dhirajlal walji ladwa 2 others vs jitesh jayantilal ladwa another 2023 tzhccomd 376 17 november 2023
The Petitioners remain lawful members and directors of the 2nd Respondent as the purported transfer of shares and resignation were invalid for non-compliance with the company's MEMARTS, lack of proper board resolutions, and evidence of undue influence. The 1st Respondent's conduct in excluding Petitioners from management, misappropriating funds, and operating company accounts without board authorization was unfairly prejudicial to the Petitioners and the company. Reliefs are granted to restore proper corporate governance and protect the Petitioners' rights.
Source excerpt
- Unfair prejudice
- Shareholder rights
- Directors' duties
- Transfer of shares
- Company meetings
- Corporate mismanagement