The Court ruled in favor of appellant in a dispute over transfer of shares. City Civil Court has jurisdiction, not NCLT.

The Court ruled in favor of appellant in a dispute over transfer of shares. City Civil Court has jurisdiction, not NCLT. https://www.taxtmi.com/highlights?id=78726 The High Court addressed the jurisdictional conflict between Civil Court and NCLT/NCLAT in a dispute over share transfer/title. The plaint was rejected based on SPA's Clause 8, citing Companies Act, 2013. Court held SPA mandated arbitration but didn't exclude Civil Court jurisdiction. The objection on Arbitration Act's Section 11 appointment was premature. Companies Act sections don't bar the Civil Court from hearing share disputes. NCLT isn't suitable for individual share disputes. The order rejecting the plaint was overturned as Companies Act sections didn't apply. en-us Sat, 22 Jun 2024 08:36:00 +0530 Sat, 22 Jun 2024 08:36:00 +0530 TaxTMI RSS Generator The Court ruled in favor of appellant in a dispute over transfer of shares. City Civil Court has jurisdiction, not NCLT. https://www.taxtmi.com/highlights?id=78726 The High Court addressed the jurisdictional conflict between Civil Court and NCLT/NCLAT in a dispute over share transfer/title. The plaint was rejected based on SPA's Clause 8, citing Companies Act, 2013. Court held SPA mandated arbitration but didn't exclude Civil Court jurisdiction. The objection on Arbitration Act's Section 11 appointment was premature. Companies Act sections don't bar the Civil Court from hearing share disputes. NCLT isn't suitable for individual share disputes. The order rejecting the plaint was overturned as Companies Act sections didn't apply. Highlights Companies Law Sat, 22 Jun 2024 08:36:00 +0530 https://www.taxtmi.com/highlights?id=78726