https://www.taxtmi.com/caselaws?id=436642 The Court held that preference shares should be included in net worth calculation as they form part of paid-up share capital, contrary to the Respondent's exclusion method. The Respondent's decision to declare the Petitioner ineligible for the tender process based on this erroneous calculation was deemed arbitrary. The Court directed the Respondent to reconsider the Petitioner's eligibility by including preference shares in the net worth calculation. Consequently, the writ petition was allowed in favor of the Petitioner. en-us Tue, 21 Mar 2023 00:00:00 +0530 Tue, 18 Apr 2023 08:39:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436642 The Court held that preference shares should be included in net worth calculation as they form part of paid-up share capital, contrary to the Respondent's exclusion method. The Respondent's decision to declare the Petitioner ineligible for the tender process based on this erroneous calculation was deemed arbitrary. The Court directed the Respondent to reconsider the Petitioner's eligibility by including preference shares in the net worth calculation. Consequently, the writ petition was allowed in favor of the Petitioner. Case-Laws Companies Law Tue, 21 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436642