https://www.taxtmi.com/caselaws?id=293471 The High Court held that a petition under section 463(2) of the Companies Act seeking relief from disqualification under Section 164(2)(a) is not maintainable once disqualification has taken effect. The court found that the petitioners' fear of prosecution was not a reasonable basis for the petition as the disqualification was already in force, and no show cause notice had been issued. The court dismissed the petitions, emphasizing that the NCLT had directed the Company to file pending documents and that there was no current need to exercise discretionary jurisdiction under section 463(2) of the Companies Act. en-us Fri, 25 Oct 2019 00:00:00 +0530 Thu, 11 Feb 2021 20:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293471 The High Court held that a petition under section 463(2) of the Companies Act seeking relief from disqualification under Section 164(2)(a) is not maintainable once disqualification has taken effect. The court found that the petitioners' fear of prosecution was not a reasonable basis for the petition as the disqualification was already in force, and no show cause notice had been issued. The court dismissed the petitions, emphasizing that the NCLT had directed the Company to file pending documents and that there was no current need to exercise discretionary jurisdiction under section 463(2) of the Companies Act. Case-Laws Companies Law Fri, 25 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293471