https://www.taxtmi.com/caselaws?id=302237 Where a civil suit and a company petition turned on the same foundational dispute over whether a transaction was a sale of shares or a pledge/financing arrangement, Section 10 of the Code of Civil Procedure was held applicable because both forums would examine the same memorandum of understanding and agreement. On that basis, the company petition was stayed under Regulation 44 of the Company Law Board Regulations to avoid conflicting findings and protect the ends of justice. The Board for Industrial and Financial Reconstruction order restricting disposal and encumbrance of assets and shares was not treated as an absolute bar to the company proceedings. en-us Fri, 11 Sep 2009 00:00:00 +0530 Thu, 12 May 2022 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302237 Where a civil suit and a company petition turned on the same foundational dispute over whether a transaction was a sale of shares or a pledge/financing arrangement, Section 10 of the Code of Civil Procedure was held applicable because both forums would examine the same memorandum of understanding and agreement. On that basis, the company petition was stayed under Regulation 44 of the Company Law Board Regulations to avoid conflicting findings and protect the ends of justice. The Board for Industrial and Financial Reconstruction order restricting disposal and encumbrance of assets and shares was not treated as an absolute bar to the company proceedings. Case-Laws Companies Law Fri, 11 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302237