Company: BCAR
Filing Date: 2025-04-29
Form Type: S-1
Source: 0001829126-25-003006
Chunk: 260

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-04-29
Form: S-1
Chunk 260
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 | whether the action is likely to proceed; |

| ● | the costs of the proceedings; and |

| ● | whether an alternative remedy is available. |

Any member of a company may apply to the British
Virgin Islands Court under the Insolvency Act for the appointment of a liquidator to liquidate the company and the court may appoint a
liquidator for the company if it is of the opinion that it is just and equitable to do so.

The Companies Law provides that any shareholder
of a company is entitled to payment of the fair value of his shares upon dissenting from any of the following: (a) a merger if the company
is a constituent company, unless the company is the surviving company and the member continues to hold the same or similar shares; (b)
a consolidation if the company is a constituent company; (c) any sale, transfer, lease, exchange or other disposition of more than 50
percent in value of the assets or business of the company if not made in the usual or regular course of the business carried on by the
company but not including: (i) a disposition pursuant to an order of the court having jurisdiction in the matter, (ii) a disposition for
money on terms requiring all or substantially all net proceeds to be distributed to the members in accordance with their respective interest
within one year after the date of disposition, or (iii) a transfer pursuant to the power of the directors to transfer assets for the protection
thereof; (d) a compulsory redemption of 10 percent, or fewer of the issued shares of the company required by the holders of 90 percent,
or more of the shares of the company pursuant to the terms of the Act; and (e) a plan of arrangement, if permitted by the British Virgin
Islands Court.

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Generally any other claims against a company by
its shareholders must be based on the general laws of contract or tort applicable in the British Virgin Islands or their individual rights
as shareholders as established by a company’s memorandum and articles of association. There are common law rights for the protection
of shareholders that may be invoked, largely derived from English common law. Under the general English company law known as the rule
in Foss v. Harbottle, a court will generally refuse to interfere with the management of a company at the insistence of a minority of its
shareholders who express dissatisfaction with the conduct of the company’s affairs by the majority or the board of directors. However,
every