https://www.taxtmi.com/caselaws?id=407033 Waiver of the eligibility threshold under section 244(1)(a) of the Companies Act, 2013 is discretionary and available only in exceptional circumstances. Where applicants do not hold not less than one-tenth of the issued share capital, the statutory threshold is not met unless waiver is specifically justified on the material placed. The Tribunal examined the meaning of issued share capital and the waiver principles relied upon, but found no exceptional circumstances warranting relief. Its observations on oppression and mismanagement were limited to the waiver question and did not determine the merits of any proposed petition under sections 241 and 242. The waiver request was rejected and the application was held not maintainable. en-us Thu, 08 Apr 2021 00:00:00 +0530 Thu, 29 Apr 2021 10:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407033 Waiver of the eligibility threshold under section 244(1)(a) of the Companies Act, 2013 is discretionary and available only in exceptional circumstances. Where applicants do not hold not less than one-tenth of the issued share capital, the statutory threshold is not met unless waiver is specifically justified on the material placed. The Tribunal examined the meaning of issued share capital and the waiver principles relied upon, but found no exceptional circumstances warranting relief. Its observations on oppression and mismanagement were limited to the waiver question and did not determine the merits of any proposed petition under sections 241 and 242. The waiver request was rejected and the application was held not maintainable. Case-Laws Companies Law Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407033