Summary
- The NCLAT has upheld the NCLT's jurisdiction to entertain interim oppression proceedings in the Exclusive Capital Limited case, rejecting claims that the Tribunal had become functus officio after a prior order.
- The appeal was filed under Section 421(1) of the Companies Act, 2013, challenging the NCLT's order that restrained the company from holding its Annual General Meetings.
- The Tribunal emphasized that interim orders do not strip a court of its authority and noted ongoing judicial supervision over the company's affairs.
- This ruling reinforces the NCLT's powers to issue protective measures in corporate governance disputes, potentially impacting future cases involving similar jurisdictional questions.
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