Decision to Allot Additional Shares of Company Cannot be Overturned Merely Because Promoters Have Also Benefitted: SC

Recently, The Supreme Court ruled that decision to allot additional shares of the company cannot be overturned merely because promoters have also benefitted. The bench of Justices K.M. Joseph and B.V. Nagarathna stated that “the Directors may also benefit from a decision taken primarily with the intention to promote the interest of the Company, cannot

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