Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
The principal issue was whether shareholders have standing to file appeals under Section 61 of the IBC and to seek remedies under Section 65 for alleged malicious proceedings. Relying on a Larger Bench precedent that shareholders possess only limited rights tied to equity investment and no independent statutory right to maintain appeals under Section 61, the Tribunal held shareholders cannot independently challenge approval of a resolution plan; consequently the appeals were dismissed as not maintainable. The Section 65 relief claimed by shareholders likewise failed for want of locus standi, and related interlocutory applications were closed. - NCLAT
The principal issue was whether shareholders have standing to file appeals under Section 61 of the IBC and to seek remedies under Section 65 for alleged malicious proceedings. Relying on a Larger Bench precedent that shareholders possess only limited rights tied to equity investment and no independent statutory right to maintain appeals under Section 61, the Tribunal held shareholders cannot independently challenge approval of a resolution plan; consequently the appeals were dismissed as not maintainable. The Section 65 relief claimed by shareholders likewise failed for want of locus standi, and related interlocutory applications were closed. - NCLAT
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