Just a moment...

Top
Help
AI OCR

Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page

Try Now
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

NCLT jurisdiction over alleged company deposits survives probate pendency, with claimant-beneficiaries able to seek estate protection.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....NCLAT held that proceedings concerning an alleged company deposit under Sections 73(4) and 74(1) of the Companies Act, 2013 could be examined by the NCLT on their own merits despite pending probate proceedings, because the tribunal had jurisdiction over whether the deposit was made, the amount due, and its proper safekeeping. The earlier appellate order was confined to substitution of the deceased petitioner and did not bar adjudication of the deposit dispute. It further held that claimant-beneficiaries may prosecute limited protective proceedings for preservation of the estate before probate is granted, and that Section 213 of the Indian Succession Act does not bar such protective relief.....