https://www.taxtmi.com/caselaws?id=197082 Interim relief in a company petition may be refused where the applicants' entitlement to continue as shareholders and directors is seriously disputed, the balance consideration under the memorandum of understanding remains unpaid, and the interim prayers are not ancillary to the main reliefs. The Tribunal noted that the parties' rights depended on staged payment, transfer of shares and definitive agreements, while the respondents relied on a default arrangement under which shares would revert. It also considered the pending arbitration reference and held that the applicants had not shown a sufficient basis for interim protection. Interim relief was therefore declined and the application dismissed. en-us Thu, 14 Sep 2017 00:00:00 +0530 Mon, 25 Dec 2017 15:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197082 Interim relief in a company petition may be refused where the applicants' entitlement to continue as shareholders and directors is seriously disputed, the balance consideration under the memorandum of understanding remains unpaid, and the interim prayers are not ancillary to the main reliefs. The Tribunal noted that the parties' rights depended on staged payment, transfer of shares and definitive agreements, while the respondents relied on a default arrangement under which shares would revert. It also considered the pending arbitration reference and held that the applicants had not shown a sufficient basis for interim protection. Interim relief was therefore declined and the application dismissed. Case-Laws Companies Law Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197082