https://www.taxtmi.com/caselaws?id=387938 In oppression and mismanagement proceedings under the Companies Act, 2013, the commentary states that the Tribunal may grant interim relief under Section 242(4) to regulate company affairs on just and equitable terms. It explains that where a closely held company faces repeated insolvency threats, a bona fide Board decision to sell non-core assets and deploy proceeds to meet liabilities and revive operations should not be displaced by the Tribunal's own commercial assessment. The stated rationale is that such interim measures may protect the company's functioning and prevent the relief sought from being frustrated by creditor-driven insolvency action. en-us Tue, 02 Jul 2019 00:00:00 +0530 Tue, 05 Nov 2019 15:34:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387938 In oppression and mismanagement proceedings under the Companies Act, 2013, the commentary states that the Tribunal may grant interim relief under Section 242(4) to regulate company affairs on just and equitable terms. It explains that where a closely held company faces repeated insolvency threats, a bona fide Board decision to sell non-core assets and deploy proceeds to meet liabilities and revive operations should not be displaced by the Tribunal's own commercial assessment. The stated rationale is that such interim measures may protect the company's functioning and prevent the relief sought from being frustrated by creditor-driven insolvency action. Case-Laws Companies Law Tue, 02 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387938