https://www.taxtmi.com/caselaws?id=757710 NCLAT ruled that amendments to Articles 59 and 60 made in 2014 were not entrenched articles under Companies Act 2013, as they lacked unanimous member approval required for entrenchment. The tribunal held that subsequent amendments and deletions in 2019 were validly done through special resolution, not requiring all members' agreement. NCLAT confirmed that Section 113 nominees must exercise powers per board decisions unless given discretion. The court upheld the 2019 meeting approval and directed NCLT to expeditiously decide the pending company petition within six months. en-us Wed, 28 Aug 2024 00:00:00 +0530 Thu, 29 Aug 2024 12:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757710 NCLAT ruled that amendments to Articles 59 and 60 made in 2014 were not entrenched articles under Companies Act 2013, as they lacked unanimous member approval required for entrenchment. The tribunal held that subsequent amendments and deletions in 2019 were validly done through special resolution, not requiring all members' agreement. NCLAT confirmed that Section 113 nominees must exercise powers per board decisions unless given discretion. The court upheld the 2019 meeting approval and directed NCLT to expeditiously decide the pending company petition within six months. Case-Laws Insolvency and Bankruptcy Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757710