https://www.taxtmi.com/caselaws?id=409779 An interim restraint on a rights issue in an oppression and mismanagement petition under sections 241 and 242 of the Companies Act, 2013 was sought, but the Tribunal applied the settled interim-relief test of prima facie case and balance of convenience. It considered that the company was a private limited company, the loans from friends and relatives were undisputed, funding was needed for business and repayment obligations, and the petitioners had been offered participation in the rights issue on the same terms. On those facts, the company's financing requirements prevailed, so interim stay of the rights issue was refused. en-us Fri, 09 Jul 2021 00:00:00 +0530 Fri, 16 Jul 2021 08:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409779 An interim restraint on a rights issue in an oppression and mismanagement petition under sections 241 and 242 of the Companies Act, 2013 was sought, but the Tribunal applied the settled interim-relief test of prima facie case and balance of convenience. It considered that the company was a private limited company, the loans from friends and relatives were undisputed, funding was needed for business and repayment obligations, and the petitioners had been offered participation in the rights issue on the same terms. On those facts, the company's financing requirements prevailed, so interim stay of the rights issue was refused. Case-Laws Companies Law Fri, 09 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409779