https://www.taxtmi.com/caselaws?id=414705 A requisitioned extraordinary general meeting need not be compelled where the proposed resolutions are incapable of lawful implementation. The Court held that it could examine, in advance, whether shareholder resolutions would necessarily cause statutory non-compliance and could restrain further action on the requisition notice. It found that removing the managing director without replacement would breach the Companies Act, that directly nominating independent directors bypassed the statutory appointment framework, and that the proposed board changes could conflict with SEBI regulatory requirements, including takeover implications. The civil court's jurisdiction was not barred by Section 430 because the relief was directed against the party proceeding on the requisition notice, not against the tribunal. en-us Tue, 26 Oct 2021 00:00:00 +0530 Mon, 15 Nov 2021 13:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414705 A requisitioned extraordinary general meeting need not be compelled where the proposed resolutions are incapable of lawful implementation. The Court held that it could examine, in advance, whether shareholder resolutions would necessarily cause statutory non-compliance and could restrain further action on the requisition notice. It found that removing the managing director without replacement would breach the Companies Act, that directly nominating independent directors bypassed the statutory appointment framework, and that the proposed board changes could conflict with SEBI regulatory requirements, including takeover implications. The civil court's jurisdiction was not barred by Section 430 because the relief was directed against the party proceeding on the requisition notice, not against the tribunal. Case-Laws Law of Competition Tue, 26 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414705