Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Class actions under Section 245 are maintainable in respect of transactions pleaded as past, continuing or systematically orchestrated where concealment prevents shareholder knowledge or authorisation; the Tribunal held such allegations justify admission. The Tribunal construed Section 245(1)(g) and residuary clause (h) to permit reliefs against the company, its directors and third parties, including damages or compensation aimed at restoring the company and consequential shareholder loss. The NCLT properly applied Section 245(4) factors (good faith and locus to pursue) and relevant NCLT Rules on threshold shareholding, joinder impracticability and common questions, and admission on the prima facie record was upheld.
Class actions under Section 245 are maintainable in respect of transactions pleaded as past, continuing or systematically orchestrated where concealment prevents shareholder knowledge or authorisation; the Tribunal held such allegations justify admission. The Tribunal construed Section 245(1)(g) and residuary clause (h) to permit reliefs against the company, its directors and third parties, including damages or compensation aimed at restoring the company and consequential shareholder loss. The NCLT properly applied Section 245(4) factors (good faith and locus to pursue) and relevant NCLT Rules on threshold shareholding, joinder impracticability and common questions, and admission on the prima facie record was upheld.
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