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Shares of co. could be allotted to others when shareholder didn't use his pre-emptive right: NCLT

June 13, 2018[2018] 94 63 (NCLT - Hyd.)/[2018] 207 COMP CASE 317 (NCLT - Hyd.)

CL: Where petitioner and R2 were only shareholder and directors of company and they admittedly participated in board meeting in question where petitioner did not raise any objection on transfer of shares of R2 to another director and further shares of company were allotted to R2 and petitioner did not use his pre-emptive rights, same would not constitute oppression against petitioner

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