https://www.taxtmi.com/caselaws?id=789163 Costs imposed on a litigant for alleged dereliction by counsel in proceedings under Sections 241 and 242 of the Companies Act, 2013 were set aside because the tribunal found no reasoned basis to fasten the default on the party. The appellate tribunal held that a party should not suffer for slackness or dereliction on the part of counsel unless the order records adequate reasons supporting such liability. It also noted that the quantum of costs lacked sufficient reasoning. The company petition was otherwise left to proceed expeditiously before the tribunal. en-us Tue, 10 Mar 2026 00:00:00 +0530 Sat, 04 Apr 2026 08:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789163 Costs imposed on a litigant for alleged dereliction by counsel in proceedings under Sections 241 and 242 of the Companies Act, 2013 were set aside because the tribunal found no reasoned basis to fasten the default on the party. The appellate tribunal held that a party should not suffer for slackness or dereliction on the part of counsel unless the order records adequate reasons supporting such liability. It also noted that the quantum of costs lacked sufficient reasoning. The company petition was otherwise left to proceed expeditiously before the tribunal. Case-Laws Companies Law Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789163