https://www.taxtmi.com/caselaws?id=768462 NCLAT dismissed an appeal challenging NCLT's waiver of eligibility criteria under Section 244(1)(b) of Companies Act, 2013. Four members filed oppression and mismanagement petition against a Section 8 sports club, with 90 additional members raising similar concerns. NCLAT held that NCLT properly exercised discretion in granting waiver, considering public interest nature of sports promotion activities, differences between members, and absence of prior proceedings on these allegations. The tribunal found exceptional circumstances justified waiver, allowing the main petition to proceed on merits. en-us Sun, 02 Mar 2025 00:00:00 +0530 Tue, 08 Apr 2025 08:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768462 NCLAT dismissed an appeal challenging NCLT's waiver of eligibility criteria under Section 244(1)(b) of Companies Act, 2013. Four members filed oppression and mismanagement petition against a Section 8 sports club, with 90 additional members raising similar concerns. NCLAT held that NCLT properly exercised discretion in granting waiver, considering public interest nature of sports promotion activities, differences between members, and absence of prior proceedings on these allegations. The tribunal found exceptional circumstances justified waiver, allowing the main petition to proceed on merits. Case-Laws IBC Sun, 02 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768462