https://www.taxtmi.com/caselaws?id=769499 The NCLAT dismissed an appeal challenging an NCLT order that disposed of a petition seeking investigation into a company's affairs under Section 213 of the Companies Act, 2013. The appellant, who was not a member of the respondent company, alleged fraudulent activities including illegal allotment of convertible debentures, unauthorized increase in share capital, and fraudulent borrowing. The NCLAT held that since the appellant lacked standing as a non-member, the petition was not maintainable under Section 213(a), particularly as ongoing arbitration proceedings between the parties suggested the petition was filed to create pressure rather than address genuine grievances. en-us Tue, 22 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769499 The NCLAT dismissed an appeal challenging an NCLT order that disposed of a petition seeking investigation into a company's affairs under Section 213 of the Companies Act, 2013. The appellant, who was not a member of the respondent company, alleged fraudulent activities including illegal allotment of convertible debentures, unauthorized increase in share capital, and fraudulent borrowing. The NCLAT held that since the appellant lacked standing as a non-member, the petition was not maintainable under Section 213(a), particularly as ongoing arbitration proceedings between the parties suggested the petition was filed to create pressure rather than address genuine grievances. Case-Laws Companies Law Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769499