https://www.taxtmi.com/caselaws?id=780179 NCLAT allowed the appeal, set aside the impugned NCLT orders, and held that there was an irretrievable deadlock between equal shareholder groups warranting exercise of powers under s.241/242. The Tribunal found the interim restraint orders overbroad and noted the FSA remained unenforceable as its effective date was never reached. NCLAT directed regulation of the company's affairs under s.242: existing directors to continue, with one additional independent/professional director appointed as Chairman-Managing Director to break the deadlock and restore effective management. en-us Fri, 19 Sep 2025 00:00:00 +0530 Sat, 25 Oct 2025 09:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780179 NCLAT allowed the appeal, set aside the impugned NCLT orders, and held that there was an irretrievable deadlock between equal shareholder groups warranting exercise of powers under s.241/242. The Tribunal found the interim restraint orders overbroad and noted the FSA remained unenforceable as its effective date was never reached. NCLAT directed regulation of the company's affairs under s.242: existing directors to continue, with one additional independent/professional director appointed as Chairman-Managing Director to break the deadlock and restore effective management. Case-Laws Companies Law Fri, 19 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780179