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    Liquidation waterfall under insolvency law prevails over state tax claims, barring treatment of tax dues as secured debt.
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      Companies Law

      Waiver under Section 244 for a company limited by guarantee was...

      Section 244 waiver threshold upheld where prima facie oppression, mismanagement, and articles violations supported the petition.

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      Companies LawMay 9, 2026Case LawsAT
      Waiver under Section 244 for a company limited by guarantee was considered on the basis of prima facie oppression and mismanagement, exceptional circumstances, and alleged violation of the Articles of Association. The Appellate Tribunal accepted that at the waiver stage a detailed merits review was unnecessary and that concise reasons were sufficient if relevant factors were considered. It found that the order had addressed the club's affairs, the alleged illegal termination and suspension of a member during pending proceedings, the convening of the EOGM, and broader mismanagement allegations. The challenge was treated as affecting members' rights and club governance, and the withdrawal of 49 members did not defeat waiver at that stage.

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      ActsIncome Tax