https://www.taxtmi.com/caselaws?id=312409 Interim restraint on invocation of pledged shares in section 9 proceedings should be supported by a reasoned prima facie assessment showing why the measure is warranted. A bare order restraining enforcement of contractual security rights, without recording the parties' pleas or explaining the basis for interim protection, is vulnerable to suspension. Here, the appellate court suspended the operation of the restraint orders while leaving the pending section 9 petitions to be decided afresh on merits by the Single Judge, without prejudice to those proceedings. en-us Fri, 16 Apr 2021 00:00:00 +0530 Thu, 15 Feb 2024 19:49:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312409 Interim restraint on invocation of pledged shares in section 9 proceedings should be supported by a reasoned prima facie assessment showing why the measure is warranted. A bare order restraining enforcement of contractual security rights, without recording the parties' pleas or explaining the basis for interim protection, is vulnerable to suspension. Here, the appellate court suspended the operation of the restraint orders while leaving the pending section 9 petitions to be decided afresh on merits by the Single Judge, without prejudice to those proceedings. Case-Laws Indian Laws Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312409