https://www.taxtmi.com/caselaws?id=112813 The appeal challenging an interim order passed by the Company Law Board under the Companies Act, 1956 is allowed. The impugned order restraining the allotment of shares to the appellant is set aside. The judgment criticizes the CLB for not considering the appellant's rights and emphasizes the petitioner's dishonest conduct, leading to severe prejudice to the innocent third party appellant who invested Rs. 1,640 crores. The court highlights the importance of adhering to legal principles in interlocutory applications and finds the petitioner failed to establish a prima facie case, resulting in the appeal's success. en-us Wed, 25 Feb 2009 00:00:00 +0530 Mon, 17 Nov 2014 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112813 The appeal challenging an interim order passed by the Company Law Board under the Companies Act, 1956 is allowed. The impugned order restraining the allotment of shares to the appellant is set aside. The judgment criticizes the CLB for not considering the appellant's rights and emphasizes the petitioner's dishonest conduct, leading to severe prejudice to the innocent third party appellant who invested Rs. 1,640 crores. The court highlights the importance of adhering to legal principles in interlocutory applications and finds the petitioner failed to establish a prima facie case, resulting in the appeal's success. Case-Laws Companies Law Wed, 25 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112813