This article discusses the landmark case of Gambotto v WCP Ltd in Australian Corporations Law. It provides an overview of the facts, issues, rules, and application of the case. The article also discusses the two-limbed test established by the High Court judges and its impact on corporate governance. The case encouraged corporate governance and helped in reforming the legislation. The two-limbed test established in the case is used by the courts for the determination of the validity of the amendment of constitution or article of any company for expropriation of the shares of any shareholder.