https://www.taxtmi.com/caselaws?id=307270 The court modified the orders imposing payment conditions under Section 87 of the Companies Act, reducing the amounts to Rs. 45,000, Rs. 30,000, and Rs. 20,000 for different loan values. The court found the initially imposed conditions disproportionate to the defaults, emphasizing that conditions under Section 87 should be just and expedient. The petitioner's delay in filing forms was considered justifiable due to management changes, leading to the court rationalizing the payment amounts based on loan values and disposing of the writ petition accordingly. en-us Wed, 25 Jul 2018 00:00:00 +0530 Sat, 01 Apr 2023 08:19:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307270 The court modified the orders imposing payment conditions under Section 87 of the Companies Act, reducing the amounts to Rs. 45,000, Rs. 30,000, and Rs. 20,000 for different loan values. The court found the initially imposed conditions disproportionate to the defaults, emphasizing that conditions under Section 87 should be just and expedient. The petitioner's delay in filing forms was considered justifiable due to management changes, leading to the court rationalizing the payment amounts based on loan values and disposing of the writ petition accordingly. Case-Laws Companies Law Wed, 25 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307270