https://www.taxtmi.com/caselaws?id=752676 NCLAT Principal Bench dismissed appeal challenging execution order in oppression and mismanagement case. Company made illegal share transfer on 24.5.2010 which was previously set aside by Tribunal and NCLAT, with directions to restore status quo from 19.5.2010. Despite clear orders, appellants attempted fresh transfer dated 28.11.2017 to retransfer shares back to appellant company. NCLAT held no valid justification existed for fresh transfer after 12-year legal battle where respondents had won. Execution order dated 03.06.2022 contained no error. Appeal dismissed, confirming respondents' restored shareholding position. en-us Mon, 06 May 2024 00:00:00 +0530 Wed, 15 May 2024 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752676 NCLAT Principal Bench dismissed appeal challenging execution order in oppression and mismanagement case. Company made illegal share transfer on 24.5.2010 which was previously set aside by Tribunal and NCLAT, with directions to restore status quo from 19.5.2010. Despite clear orders, appellants attempted fresh transfer dated 28.11.2017 to retransfer shares back to appellant company. NCLAT held no valid justification existed for fresh transfer after 12-year legal battle where respondents had won. Execution order dated 03.06.2022 contained no error. Appeal dismissed, confirming respondents' restored shareholding position. Case-Laws Companies Law Mon, 06 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752676