Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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NCLAT dismissed the application for interim injunction, holding that the applicant failed to establish the requisite balance of convenience and the triple criteria for restraining the general body meeting scheduled for 29.10.2024. The Tribunal found preservation of share value impracticable if the underlying company is commercially stifled, and emphasized that the spirit of the IBC favors permitting related companies to continue commercial operations irrespective of control disputes. Disputes over control and unauthorized capital increase were characterized as matters for oppression and mismanagement proceedings under the Companies Act, properly within the NCLT's jurisdiction. Given these considerations, including the failure of the final limb of the test, injunctive relief was refused and the application dismissed.
NCLAT dismissed the application for interim injunction, holding that the applicant failed to establish the requisite balance of convenience and the triple criteria for restraining the general body meeting scheduled for 29.10.2024. The Tribunal found preservation of share value impracticable if the underlying company is commercially stifled, and emphasized that the spirit of the IBC favors permitting related companies to continue commercial operations irrespective of control disputes. Disputes over control and unauthorized capital increase were characterized as matters for oppression and mismanagement proceedings under the Companies Act, properly within the NCLT's jurisdiction. Given these considerations, including the failure of the final limb of the test, injunctive relief was refused and the application dismissed.
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