Home Case Index All Cases Companies Law Companies Law + AT Companies Law - 2020 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 526 - AT - Companies LawOppression and Mismanagement - purchase of mortgaged property at a higher rate - HELD THAT:- It is not necessary for the NCLT to give a finding whether as per agreement of mortgaged, the Respondent No.5- ‘J.M. Financial Services’ can sell the mortgaged property or not. Such finding can be given only after examining the allegations and counter allegations of the oppression and mismanagement levelled against the Respondent Nos. 2 to 4. The impugned order is not in any manner detrimental to the Respondent No.1 Company as well as the Appellants’ interest. Sub-section (4) of Section 242 of the Companies Act, 2013 provides that the Tribunal may, on the application of any party to the proceeding, make any interim order which it thinks fit for regulating the conduct of the company’s affairs upon such terms and conditions as appear to it to be just and equitable - the NCLT has a vast power to pass interim order for regulating the conduct of the company’s affairs and it should be just and equitable. Appeal dismissed - decided against appellant.
|