Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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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