https://www.taxtmi.com/caselaws?id=335147 Outcome: The National Company Law Tribunal (NCLT) dismissed the respondent's application challenging the maintainability of petitions under section 73(4) of the Companies Act, 2013. The Tribunal clarified that all deposits, regardless of when they were made, fall under the purview of the new Act. It affirmed the NCLT's jurisdiction to address grievances of depositors and rejected the argument that depositors should seek relief in Civil Courts. The respondents undertook to sell assets for repayment of dues to depositors, and concerns regarding directors fleeing the country were acknowledged, with actions initiated by the Registrar of Companies (RoC) to investigate alleged financial misconduct. en-us Thu, 06 Oct 2016 00:00:00 +0530 Sat, 26 Nov 2016 10:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335147 Outcome: The National Company Law Tribunal (NCLT) dismissed the respondent's application challenging the maintainability of petitions under section 73(4) of the Companies Act, 2013. The Tribunal clarified that all deposits, regardless of when they were made, fall under the purview of the new Act. It affirmed the NCLT's jurisdiction to address grievances of depositors and rejected the argument that depositors should seek relief in Civil Courts. The respondents undertook to sell assets for repayment of dues to depositors, and concerns regarding directors fleeing the country were acknowledged, with actions initiated by the Registrar of Companies (RoC) to investigate alleged financial misconduct. Case-Laws Companies Law Thu, 06 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335147