https://www.taxtmi.com/caselaws?id=399852 The Tribunal allowed the Applicants to proceed with a rights issue under Section 62 of the Companies Act, 2013, by modifying the order dated 07.12.2006 passed by the Company Law Board. This modification was deemed necessary to raise additional capital to discharge the company's debts and protect its assets. The relaxation of the order was limited to the purpose of raising capital, and the status quo on the shareholding pattern would be maintained post the rights issue. Persons acquiring shares through the rights issue were restricted from exercising additional voting rights until further orders or the disposal of the main petition. en-us Mon, 10 Feb 2020 00:00:00 +0530 Wed, 21 Oct 2020 09:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399852 The Tribunal allowed the Applicants to proceed with a rights issue under Section 62 of the Companies Act, 2013, by modifying the order dated 07.12.2006 passed by the Company Law Board. This modification was deemed necessary to raise additional capital to discharge the company's debts and protect its assets. The relaxation of the order was limited to the purpose of raising capital, and the status quo on the shareholding pattern would be maintained post the rights issue. Persons acquiring shares through the rights issue were restricted from exercising additional voting rights until further orders or the disposal of the main petition. Case-Laws Companies Law Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399852