Oppression and mismanagement - Jurisdiction of NCLT to decide ...
Insolvency and Bankruptcy
August 29, 2022
Oppression and mismanagement - Jurisdiction of NCLT to decide the issue - Principle of natural justice - the remedy provided under the Companies Act, 241 and 242 is a specific statutory remedy which has to be decided by the Tribunal in accordance with law. The issues which has been raised in Application under Section 241 and 242 are issues which are not arbitrable and the Adjudicating Authority committed error in allowing Section 8 Application filed by the Respondent No. 1. We thus find the Order dated 31st May, 2021 unsustainable due to this reason. - AT
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