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2009 (7) TMI 787 - HC - Companies LawWhether the interim relief granted by the Board during the pendency of the main petition without recording any tangible reason and more so objectively analysing the objection raised by the opposite party, can stand the test of judicial scrutiny and be said to be an order suffering from the vice of material irregularity ? Held that:- It would be a different matter if the Board were to consider all relevant aspects for grant or non-grant of interim relief such as prima facie case, balance of convenience and irreparable loss and record its opinion one way or the other on the contentious issues. In the circumstances, the only option available to this Court is to set aside the impugned order and to relegate the parties for reconsideration of the application on its own merits in accordance with law. Besides, the appellants contend that the grievance of the appellants that the information has been pressed by the petitioners so as to misuse the same as they have been set up by the competitor builders, has been lightly brushed aside without examining the same on its own merits. Even this direction will have to be reconsidered by the Board and record a clear opinion as to the justification for issuing such direction against the appellant-company. The appropriate course is to set aside the impugned decision and instead relegate the parties before the Board for reconsideration of Application
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