https://www.taxtmi.com/caselaws?id=775275 Interlocutory relief concerning sale of company assets was refined under injunction principles to balance the plaintiffs' control of the company with protection of the defendants' claimed interest. The court accepted a prima facie concern that sale at circle rate could still involve unaccounted cash payments and prejudice the defendants if they ultimately succeeded. It therefore declined a complete status quo restraint, but modified the consent arrangement so any sale must be at prevailing market value, consideration must pass only through banking channels, and a Local Commissioner-cum-Observer may be appointed to assess market value at the time of sale. en-us Mon, 21 Jul 2025 00:00:00 +0530 Wed, 23 Jul 2025 08:29:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775275 Interlocutory relief concerning sale of company assets was refined under injunction principles to balance the plaintiffs' control of the company with protection of the defendants' claimed interest. The court accepted a prima facie concern that sale at circle rate could still involve unaccounted cash payments and prejudice the defendants if they ultimately succeeded. It therefore declined a complete status quo restraint, but modified the consent arrangement so any sale must be at prevailing market value, consideration must pass only through banking channels, and a Local Commissioner-cum-Observer may be appointed to assess market value at the time of sale. Case-Laws Companies Law Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775275