https://www.taxtmi.com/caselaws?id=763268 The compromise order confined the party's role to negotiations and transactions relating to sale of the scheduled properties, and the liberty reserved under that order extended only to implementation of the settlement and removal of impediments. A miscellaneous application seeking supersession of the board, appointment of an administrator and control over bank accounts went beyond that limited liberty and, in substance, amounted to a review, recall or modification of the final compromise order. The direction requiring the applicant's involvement in all affairs of the company was likewise inconsistent with the settlement. The impugned directions were therefore held unsustainable and the offending portion was quashed. en-us Fri, 13 Dec 2024 00:00:00 +0530 Tue, 17 Dec 2024 08:42:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763268 The compromise order confined the party's role to negotiations and transactions relating to sale of the scheduled properties, and the liberty reserved under that order extended only to implementation of the settlement and removal of impediments. A miscellaneous application seeking supersession of the board, appointment of an administrator and control over bank accounts went beyond that limited liberty and, in substance, amounted to a review, recall or modification of the final compromise order. The direction requiring the applicant's involvement in all affairs of the company was likewise inconsistent with the settlement. The impugned directions were therefore held unsustainable and the offending portion was quashed. Case-Laws Companies Law Fri, 13 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763268