https://www.taxtmi.com/caselaws?id=784907 Waiver of the membership and shareholding thresholds under the proviso to Section 244(1) may be granted where exceptional circumstances prima facie justify proceedings for oppression and mismanagement. The waiver-stage inquiry is limited to genuineness, exceptional circumstances and potential prejudice, without adjudicating the merits of allegations. Trust beneficiaries are not automatically barred from seeking waiver; admitted shareholding, alleged diminution of holdings and prejudice remain relevant. Res judicata does not apply automatically where the factual circumstances differ, and pending civil proceedings on trust issues do not preclude a company-law remedy. The NCLT's waiver was upheld and the appeal was dismissed. en-us Thu, 13 Nov 2025 00:00:00 +0530 Wed, 14 Jan 2026 08:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784907 Waiver of the membership and shareholding thresholds under the proviso to Section 244(1) may be granted where exceptional circumstances prima facie justify proceedings for oppression and mismanagement. The waiver-stage inquiry is limited to genuineness, exceptional circumstances and potential prejudice, without adjudicating the merits of allegations. Trust beneficiaries are not automatically barred from seeking waiver; admitted shareholding, alleged diminution of holdings and prejudice remain relevant. Res judicata does not apply automatically where the factual circumstances differ, and pending civil proceedings on trust issues do not preclude a company-law remedy. The NCLT's waiver was upheld and the appeal was dismissed. Case-Laws Companies Law Thu, 13 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784907