elly mwaijande vs petros majinyori 4 others 2023 tzhccomd 369 10 november 2023
The refusal by the directors of the 5th respondent to remove the petitioner's name and credentials from the company register and regulatory records after termination of employment, despite formal demand and in contravention of the articles of association, constitutes unfair prejudice under Section 233 of the Companies Act. The petitioner is entitled to reliefs including removal from records, appointment of an auditor for valuation, and payment for his shares at fair value.
Source excerpt
- Unfair prejudice
- Shareholder rights
- Directors' duties
- Removal from company register
- Use of professional credentials
- Minority shareholder protection