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of <h1>Appeal dismissed: interim injunction denied to stall 29.10.2024 general body meeting; balance of convenience and triple test unmet</h1> <h3>Glas Trust Company LLC Versus Shailendra Ajmera & Ors.</h3> SC refused to interfere with NCLAT's order denying an interim injunction to stall the general body meeting scheduled for 29.10.2024, finding the balance ... Grant of interim injunction - balance of convenience - establishment of the triple criteria necessary for stalling the General body meeting on 29.10.2024 or not - alleged breach of order - it was held by NCLAT that 'This tribunal is therefore, is cautious, not tread into areas which is earmarked for the consideration of the NCLT under the Companies Act. In effect, the last of the triple criteria is also against grant of an order of injunction.' HELD THAT:- It is not inclined to interfere with the impugned order passed by the National Company Law Appellate Tribunal (NCLAT), it is made clear that the observations made by the Tribunal are intended for the purpose of disposing of I.A. No. 1514 of 2025 and they will not have any bearing on the final disposal of the appeal before the Tribunal. Appeal dismissed. The court declined to disturb the impugned order(s) of the National Company Law Appellate Tribunal (NCLAT), observing that 'the observations made by the Tribunal are intended for the purpose of disposing of I.A. No. 1514 of 2025 and they will not have any bearing on the final disposal of the appeal(s) before the Tribunal.' Accordingly, 'the present civil appeals stand dismissed.' The decision expressly limits the precedential or substantive effect of the Tribunal's interim observations to the specific interlocutory application noted, preserving the scope for full adjudication on merits at the Tribunal stage. All pending interlocutory application(s), if any, were disposed of. The order thus resolves the appeals without adjudicating the substantive issues underlying the NCLAT proceedings and confines the impact of interim observations to their stated purpose.
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