Question about RCD -oppression and mismanagement.
As per rule, for file petition for oppression and mismanagement against company, minimum 100 members or 1/10 th member required.
If, A is a member holding 5% shares in company.
He wants to file petition, but minimum criteria was not met.
Then he sold, each 1 share to another 99 persons and they together 100 members filed application for oppression and mismanagement , this application is tan able or not???
Sub question - if , this other 99 members filed application against act of bod done before they become member of company, is allowed?
CAclubindia
