https://www.taxtmi.com/caselaws?id=259682 Pending BIFR proceedings under the sick-company regime may override ordinary company-law remedies, but they do not automatically make a petition under Sections 397 and 398 non-maintainable. The petitioners were required to seek BIFR approval before further prosecution of the company petition. On interim relief, a prima facie case alone was insufficient: ad-interim restraint against the proposed Vile Parle property transaction was declined because the balance of convenience was not in favour of restraint and irreparable injury was not shown, especially where the transaction already remained subject to supervisory approvals. en-us Wed, 28 Jan 2015 00:00:00 +0530 Mon, 18 May 2015 07:31:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259682 Pending BIFR proceedings under the sick-company regime may override ordinary company-law remedies, but they do not automatically make a petition under Sections 397 and 398 non-maintainable. The petitioners were required to seek BIFR approval before further prosecution of the company petition. On interim relief, a prima facie case alone was insufficient: ad-interim restraint against the proposed Vile Parle property transaction was declined because the balance of convenience was not in favour of restraint and irreparable injury was not shown, especially where the transaction already remained subject to supervisory approvals. Case-Laws Companies Law Wed, 28 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259682