NCLAT dismissed the appeal challenging interim orders regarding ...

NCLAT Upholds Interim Order u/s 242(4) to Maintain Corporate Stability Amid Family Dispute Over Trust Management.

January 27, 2025

Case Laws Companies Law AT

NCLAT dismissed the appeal challenging interim orders regarding trustee replacement and management powers. The Tribunal acknowledged severe family hostilities and non-compliance with previous orders by both parties. The contested interim order was upheld as it maintained corporate stability by preserving the legally constituted board, protected banking relationships, safeguarded company assets, and retained appellant's directorship. The order, issued u/s 242(4) of the Act, effectively prevented unauthorized takeover while protecting interests of 2500 employees and operational continuity. NCLAT found the NCLT's interim measures appropriate for regulating company conduct pending final hearing of Section 241-242 petition, maintaining status quo ante regarding management and shareholding structure.

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NCLAT dismissed the appeal challenging interim orders regarding ...

NCLAT Upholds Interim Order u/s 242(4) to Maintain Corporate Stability Amid Family Dispute Over Trust Management.

January 27, 2025

Case Laws Companies Law AT

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