https://www.taxtmi.com/caselaws?id=393382 In proceedings for oppression and mismanagement, the NCLT may issue interim orders regulating the company's affairs on terms that are just and equitable. The tribunal upheld an order directing status quo for 14 days and preserving the secured creditor's rights thereafter, because the arrangement protected the parties without finally deciding whether the mortgaged property could be sold. The appellate forum found no basis to interfere, as the interim order did not prejudice substantive rights and fell within the NCLT's wide power under Section 242(4) of the Companies Act, 2013. en-us Fri, 31 Jan 2020 00:00:00 +0530 Thu, 07 May 2020 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393382 In proceedings for oppression and mismanagement, the NCLT may issue interim orders regulating the company's affairs on terms that are just and equitable. The tribunal upheld an order directing status quo for 14 days and preserving the secured creditor's rights thereafter, because the arrangement protected the parties without finally deciding whether the mortgaged property could be sold. The appellate forum found no basis to interfere, as the interim order did not prejudice substantive rights and fell within the NCLT's wide power under Section 242(4) of the Companies Act, 2013. Case-Laws Companies Law Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393382