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AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether interim protection should be granted to allow the petitioner to open the public issue despite the withdrawal of the lead managers at the last moment.
Analysis: The material placed before the Court showed a prima facie case in favour of the petitioner and the balance of convenience was found to lie with it. The Court therefore considered it appropriate to permit the public issue to proceed and to allow the appointment of new lead managers.
Outcome: Interim relief granted permitting the petitioner to open and close the public issue if 90 per cent subscription was received, appoint new lead managers, and enable the issue bankers to collect subscriptions.
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