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This verdict spotlights the vital powers of the NCLT under Sections 397 and 398 of the Companies Act, 1956 to decisively intervene in cases of oppression and mismanagement, and reinforcing that technicalities must not deprive affected members of true justice. The Court restored NCLT’s order because procedural irregularities and fraud cannot be shielded by narrow jurisdictional views. #CompanyLaw #NCLT #SupremeCourt
This verdict spotlights the vital powers of the NCLT under Sections 397 and 398 of the Companies Act, 1956 to decisively intervene in cases of oppression and mismanagement, and reinforcing that technicalities must not deprive affected members of true justice. The Court restored NCLT’s order because procedural irregularities and fraud cannot be shielded by narrow jurisdictional views. #CompanyLaw #NCLT #SupremeCourt