Chalasani Udaya Shankar vs M/S Lexus Technologies Pvt. Ltd

The Supreme Court addressed an appeal under Section 423 of the Companies Act, 2013, concerning the rectification of the Register of Members of M/s. Lexus Technologies Pvt. Ltd. The Court held that under Sections 59 and 88 of the Act, the appellants were entitled to have their names entered in the register as they had acquired shares through valid Securities Transfer Deeds. The Court also noted that the actions of the respondents constituted oppression and mismanagement, warranting intervention under the Companies Act.