https://www.taxtmi.com/caselaws?id=758326 The SC allowed the appeal and set aside judgments of both NCLT and NCLAT in a matter concerning rectification of share register and allegations of oppression and mismanagement. The Court held that NCLT's Acting President failed to properly verify assertions and examine material evidence regarding disputed share transfers, despite receiving interim directions. Both tribunals summarily dismissed the petition without considering documentary evidence or calling for further evidence to determine whether fraud allegations were substantiated. The Court emphasized that Section 59 powers require earnest examination of facts, material and evidence on preponderance of probabilities standard. en-us Mon, 09 Sep 2024 00:00:00 +0530 Wed, 11 Sep 2024 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758326 The SC allowed the appeal and set aside judgments of both NCLT and NCLAT in a matter concerning rectification of share register and allegations of oppression and mismanagement. The Court held that NCLT's Acting President failed to properly verify assertions and examine material evidence regarding disputed share transfers, despite receiving interim directions. Both tribunals summarily dismissed the petition without considering documentary evidence or calling for further evidence to determine whether fraud allegations were substantiated. The Court emphasized that Section 59 powers require earnest examination of facts, material and evidence on preponderance of probabilities standard. Case-Laws Companies Law Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758326