NCLT Hyderabad Grants Interim Protection To Petitioner After EGM Allotted 2.49 Crore Shares To Respondent, Making Them Majority Shareholder

The NCLT, Hyderabad, has granted "interim protection to a petitioner" after an "extraordinary general meeting" allotted "₹24.9 crore shares to the respondent," making them the majority shareholder. The court's decision, which is a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person.