https://www.taxtmi.com/caselaws?id=110968 The High Court upheld the decision that the Company Law Board (CLB) could not enforce the Memorandum of Understanding (MoU) between the parties, ruling that specific performance lay within the jurisdiction of a civil court. The court also determined that the CLB lacked the authority to review its orders in substantive matters, setting aside a modified order regarding the release of personal guarantees. The valuation date for the shares was confirmed as March 31, 2002, rejecting a later date proposed by one party. The Jain group was directed to replace the Goyal group's personal guarantees within one month. en-us Tue, 23 Aug 2005 00:00:00 +0530 Thu, 19 Apr 2012 14:06:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110968 The High Court upheld the decision that the Company Law Board (CLB) could not enforce the Memorandum of Understanding (MoU) between the parties, ruling that specific performance lay within the jurisdiction of a civil court. The court also determined that the CLB lacked the authority to review its orders in substantive matters, setting aside a modified order regarding the release of personal guarantees. The valuation date for the shares was confirmed as March 31, 2002, rejecting a later date proposed by one party. The Jain group was directed to replace the Goyal group's personal guarantees within one month. Case-Laws Companies Law Tue, 23 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110968