VINOD KUMAR vs M/S. SINGMALON EQUIPMENT PVT. LTD..

The Supreme Court set aside the orders of the Company Law Board dated 05.05.2003 and the High Court dated 16.06.2005, remanding the matter for reconsideration due to changed circumstances affecting the valuation date for shares. The Court held that the appellant is entitled to raise issues regarding salary and perquisites before the Board, emphasizing the need for a fresh decision based on current facts. The appeals were allowed in part, leaving open all contentions for the Board's consideration.