The National Company Law Tribunal Mumbai Bench-I bench of Justice V.G. Bisht (Retd.)and Prabhat Kumar held that allotment of the shares at a concessional price is an oppressive act qua existing members to whom no such allotment has been made. The bench held that the allotment of the share value at a face value, which is less than its book value is not in accordance with the provision...
