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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Rights Issue - allegation of Right Issue is for a mala fide purpose and is the modus operandi to siphon further funds from the first Respondent Company - The inter-corporate loans were genuine and observe that if the debt due is not paid, there was a possibility that the Lenders could have taken coercive action for the recovery of their dues, the prayer sought for by the Respondents seeking Additional Capital by going for Rights Issue, is justified. - AT
Rights Issue - allegation of Right Issue is for a mala fide purpose and is the modus operandi to siphon further funds from the first Respondent Company - The inter-corporate loans were genuine and observe that if the debt due is not paid, there was a possibility that the Lenders could have taken coercive action for the recovery of their dues, the prayer sought for by the Respondents seeking Additional Capital by going for Rights Issue, is justified. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
