NCLT lacks jurisdiction to question commercial judgment once Company Board finds Proposed Scheme is against Public Policy: NCLAT [Read Order]

NCLT has no further jurisdiction to sit in appeal over the commercial wisdom of the class of person who with their eyes open have given their approval, even if, the Court is of the view that better scheme could have been framed, rules NCLAT
NCLT - NCLAT - jurisdiction - commercial judgment - National Company Law Appellate Tribunal - taxscan

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the National Company Law Tribunal has no jurisdiction to question commercial judgment once Company Board finds Proposed Scheme is against the public policy. The present Appeal has been filed by Oriental Carbon & Chemicals Limited (“Appellant” or “Demerged Company”)…

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