Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Oppression and mismanagement - reduction in shareholding - illegal transfer and allotment of shares - The NCLAT observed that, the appellants did not fully comply with the NCLAT’s order dated 16.04.2019, specifically regarding the rectification of the register of members to reflect the shareholding status as of 19.05.2010. The fresh transfer of shares on 28.11.2017 was invalidated, as it was an attempt to circumvent the Tribunal’s previous orders. The appellants were found to have engaged in acts of oppression and mismanagement, justifying the respondents’ claims. The appellants did not properly offer proportionate shares from additional allotments to the respondents, violating the Tribunal’s directives. - The Appellate Tribunal (NCLAT) upheld the NCLT’s findings that the appellants engaged in improper share transfers and failed to comply with the Tribunal’s orders.
Oppression and mismanagement - reduction in shareholding - illegal transfer and allotment of shares - The NCLAT observed that, the appellants did not fully comply with the NCLAT’s order dated 16.04.2019, specifically regarding the rectification of the register of members to reflect the shareholding status as of 19.05.2010. The fresh transfer of shares on 28.11.2017 was invalidated, as it was an attempt to circumvent the Tribunal’s previous orders. The appellants were found to have engaged in acts of oppression and mismanagement, justifying the respondents’ claims. The appellants did not properly offer proportionate shares from additional allotments to the respondents, violating the Tribunal’s directives. - The Appellate Tribunal (NCLAT) upheld the NCLT’s findings that the appellants engaged in improper share transfers and failed to comply with the Tribunal’s orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
