https://www.taxtmi.com/caselaws?id=102346 Interlocutory restraints on a company's debenture issue were found too broad where the underlying shareholder suits and writ petitions remained pending, so the appellate court interfered with those orders rather than decide the merits. The Court noted the company's need to raise and deploy funds, the support of a substantial shareholder majority and financial institutions, and the limited scope of the minority challenge, making the blanket restraint inappropriate. However, judicial control was preserved over the disputed use of proceeds for certain unsecured loans, which was left for determination in the pending suit. The earlier limited permission to use the debenture proceeds was restored with modification. en-us Thu, 21 Jan 1993 00:00:00 +0530 Thu, 12 Sep 2013 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102346 Interlocutory restraints on a company's debenture issue were found too broad where the underlying shareholder suits and writ petitions remained pending, so the appellate court interfered with those orders rather than decide the merits. The Court noted the company's need to raise and deploy funds, the support of a substantial shareholder majority and financial institutions, and the limited scope of the minority challenge, making the blanket restraint inappropriate. However, judicial control was preserved over the disputed use of proceeds for certain unsecured loans, which was left for determination in the pending suit. The earlier limited permission to use the debenture proceeds was restored with modification. Case-Laws Companies Law Thu, 21 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102346