https://www.taxtmi.com/caselaws?id=103228 The Supreme Court clarified that preparatory steps for collaboration could proceed despite an interlocutory order by the Company Law Board, which only restricted the issuance of shares without shareholder approval. The High Court's partial stay on the Board's order was deemed unnecessary as it did not impede preparatory actions. The Court emphasized the importance of shareholder approval for issuing shares and allowed the respondents to continue with preparatory steps. The writ petition before the High Court was withdrawn, and the special leave petition was disposed of, lifting the stay order. en-us Fri, 15 Jul 1994 00:00:00 +0530 Mon, 09 Sep 2013 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103228 The Supreme Court clarified that preparatory steps for collaboration could proceed despite an interlocutory order by the Company Law Board, which only restricted the issuance of shares without shareholder approval. The High Court's partial stay on the Board's order was deemed unnecessary as it did not impede preparatory actions. The Court emphasized the importance of shareholder approval for issuing shares and allowed the respondents to continue with preparatory steps. The writ petition before the High Court was withdrawn, and the special leave petition was disposed of, lifting the stay order. Case-Laws Companies Law Fri, 15 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103228