https://www.taxtmi.com/caselaws?id=394337 The Tribunal upheld the Liquidator's power to remove and replace Nominee Directors, derived from the Articles of Association and Joint Sector Agreement. It clarified that the Appellants were reappointed as Nominees, not individual Directors. Emphasizing compliance with the Articles of Association, it confirmed the Liquidator's authority under the Companies Act, 2013. The Tribunal held that the rights attached to shares held by the Corporate Debtor in another company are part of the liquidation estate. Appeals were dismissed, affirming the Liquidator's powers and the importance of upholding agreements and laws in liquidation proceedings. en-us Fri, 20 Mar 2020 00:00:00 +0530 Thu, 09 Apr 2020 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394337 The Tribunal upheld the Liquidator's power to remove and replace Nominee Directors, derived from the Articles of Association and Joint Sector Agreement. It clarified that the Appellants were reappointed as Nominees, not individual Directors. Emphasizing compliance with the Articles of Association, it confirmed the Liquidator's authority under the Companies Act, 2013. The Tribunal held that the rights attached to shares held by the Corporate Debtor in another company are part of the liquidation estate. Appeals were dismissed, affirming the Liquidator's powers and the importance of upholding agreements and laws in liquidation proceedings. Case-Laws Companies Law Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394337