https://www.taxtmi.com/caselaws?id=795575 Tender eligibility conditions may validly assess the financial credibility of promoter directors where they bear a rational connection to a closely held bidder's commercial creditworthiness. Such conditions are not manifestly arbitrary or violative of Article 14 absent mala fides, irrationality or perversity, particularly where the bidder participated after accepting the requirement. Promoter-director status is not limited to formal corporate records; it may arise from direct or indirect control over management or policy decisions. A controlling executive's reclassification as a professional director does not negate de facto promoter status where substantive strategic, managerial, governance and financial authority continues. en-us Thu, 16 Jul 2026 00:00:00 +0530 Fri, 24 Jul 2026 08:36:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795575 Tender eligibility conditions may validly assess the financial credibility of promoter directors where they bear a rational connection to a closely held bidder's commercial creditworthiness. Such conditions are not manifestly arbitrary or violative of Article 14 absent mala fides, irrationality or perversity, particularly where the bidder participated after accepting the requirement. Promoter-director status is not limited to formal corporate records; it may arise from direct or indirect control over management or policy decisions. A controlling executive's reclassification as a professional director does not negate de facto promoter status where substantive strategic, managerial, governance and financial authority continues. Case-Laws Companies Law Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795575