https://www.taxtmi.com/caselaws?id=292324 Interim restraint may be granted to protect a company asset from transfer where a proposed dealing under a board resolution appears prima facie to breach related-party restrictions. The Tribunal applied the established tests of prima facie case, balance of convenience and irreparable prejudice, and treated protection of the asset pending adjudication as just and equitable. It also accepted that a fresh interim application remained maintainable because the earlier order had ceased to operate in changed circumstances. On that basis, dealing with the land was restrained pending decision on the Section 8 application and, if needed, until final disposal of the company petition. en-us Fri, 14 Feb 2020 00:00:00 +0530 Sat, 19 Dec 2020 06:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292324 Interim restraint may be granted to protect a company asset from transfer where a proposed dealing under a board resolution appears prima facie to breach related-party restrictions. The Tribunal applied the established tests of prima facie case, balance of convenience and irreparable prejudice, and treated protection of the asset pending adjudication as just and equitable. It also accepted that a fresh interim application remained maintainable because the earlier order had ceased to operate in changed circumstances. On that basis, dealing with the land was restrained pending decision on the Section 8 application and, if needed, until final disposal of the company petition. Case-Laws Companies Law Fri, 14 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292324