Osim International has again won in a two-year-long legal battle with The Wellness Group, with the Court of Appeal ordering the latter to pay for the additional legal costs.
In April, the Singapore High Court had dismissed claims against Osim by The Wellness Group and its chairman and founder, Manoj Murjani, for oppressive conduct and conspiracy to injure in relation to the lifestyle firm's shares in TWG Tea.
The Wellness Group then brought it to the Court of Appeal.
According to a press release from Osim yesterday, the Court of Appeal said a rights issue, which The Wellness Group had complained about, was reasonably considered by the directors and that there were reasons justifying the raising of capital.
The court found no basis for complaints that the pricing of the rights was done unfairly to dilute the minority.
This article was first published on November 01, 2016.
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