NCLT can examine fraud in oppression and mismanagement cases: Supreme Court

The Supreme Court has ruled that the NCLT has the authority to examine fraud in "oppression and mismanagement cases." The court's decision clarifies that the NCLT's power is not limited to mere procedural matters and extends to substantive issues of fraud. The ruling is a significant victory for stakeholders, as it provides them with a more effective remedy against corporate misconduct. The court also observed that the NCLT, with its specialized expertise, is the most suitable forum to handle such cases. This landmark judgment strengthens the corporate governance framework and ensures that a company's management is held accountable for its actions.