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1982 (11) TMI 115 - HIGH COURT OF KARNATAKAExtract: .......the company is not entitled to act upon the same and alter the rights of that class of shareholders. For the above reason, the aforementioned special resolution is set aside as illegal and not binding on the petitioners and other redeemable cumulative preference shareholders of the company. Petition is allowed with costs. Advocate s fee is Rs. 100.
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