https://www.taxtmi.com/caselaws?id=759012 NCLAT dismissed appeal challenging NCLT order directing company to purchase appellant's shares under Section 242(2)(b) of Companies Act, 2013 in oppression and mismanagement case. Tribunal held NCLT properly exercised statutory power to order share purchase, noting respondent couldn't sell shares in open market being private company. NCLAT found no illegality in impugned order, observing it would help smooth company operations and end shareholder controversy. Appeal dismissed with tribunal citing SC precedent allowing relief for substantial justice between parties. en-us Thu, 19 Sep 2024 00:00:00 +0530 Sat, 21 Sep 2024 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759012 NCLAT dismissed appeal challenging NCLT order directing company to purchase appellant's shares under Section 242(2)(b) of Companies Act, 2013 in oppression and mismanagement case. Tribunal held NCLT properly exercised statutory power to order share purchase, noting respondent couldn't sell shares in open market being private company. NCLAT found no illegality in impugned order, observing it would help smooth company operations and end shareholder controversy. Appeal dismissed with tribunal citing SC precedent allowing relief for substantial justice between parties. Case-Laws Companies Law Thu, 19 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759012