https://www.taxtmi.com/caselaws?id=394479 The Appellate Tribunal ruled that preference shareholders have the standing to file for redemption under Section 55(3) of the Companies Act, 2013 and can also seek remedies through class action under Section 245. The Tribunal clarified that preference shareholders should not be left without a remedy and can invoke the Tribunal's inherent power for relief. The NCLT's decision was set aside, and the case was remitted back for reconsideration. No costs were awarded. en-us Wed, 29 Jan 2020 00:00:00 +0530 Tue, 14 Apr 2020 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394479 The Appellate Tribunal ruled that preference shareholders have the standing to file for redemption under Section 55(3) of the Companies Act, 2013 and can also seek remedies through class action under Section 245. The Tribunal clarified that preference shareholders should not be left without a remedy and can invoke the Tribunal's inherent power for relief. The NCLT's decision was set aside, and the case was remitted back for reconsideration. No costs were awarded. Case-Laws Companies Law Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394479