https://www.taxtmi.com/caselaws?id=384811 The Appellate Tribunal upheld the NCLT's decision, dismissing the petition due to being time-barred, not continuous acts under Sections 397 and 398, lack of binding nature of a private agreement, application of res judicata, and lack of clean hands with forum shopping. Specific directions were given for the appellants' exit, including payment of the loan balance, share price determination, and share offer to existing shareholders. The judgment stressed adherence to statutory regulations and Articles of Association, clean hands, and proper forum selection in legal proceedings. en-us Tue, 20 Aug 2019 00:00:00 +0530 Mon, 04 Nov 2019 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384811 The Appellate Tribunal upheld the NCLT's decision, dismissing the petition due to being time-barred, not continuous acts under Sections 397 and 398, lack of binding nature of a private agreement, application of res judicata, and lack of clean hands with forum shopping. Specific directions were given for the appellants' exit, including payment of the loan balance, share price determination, and share offer to existing shareholders. The judgment stressed adherence to statutory regulations and Articles of Association, clean hands, and proper forum selection in legal proceedings. Case-Laws Companies Law Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384811