Rulings
NCLT: Permits fresh issue of preference shares for existing shares’ redemption, notes heavy losses & liquidity crunch
NCLT: Expert-report not ‘evidence of fact’ without oral corroboration; Distinguishes from ‘witness of fact’
SC: Dismisses Sec 397/398 petition; Strikes down share-conversion with ‘self-serving objective’, terms bonus-issue as ‘sham’
HC: Sanctions Sistema-RCom scheme, rejects RD’s ‘bald objection’ on valuation, Interprets ‘material facts’ disclosure
SC: Refuses interference with HC’s review order on validity of share transfer, dismisses SLP
SC: Directs Govt. to probe IFCI’s business conduct for financial irregularity, upholds public-interest
NCLT: Directs RIL to rectify its Members’ Register by removing pawnee’s name on full-repayment
NCLT: Allows Liaison Office to align its FY with Holding Co. for streamlining consolidation
NCLT: Disposes compounding application for incomplete disclosure of Investments under Schedule VI
NCLT: Levies compounding fees for delay in holding AGM by 57-days due to server crash
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