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NCLT Allows Waiver Of Improper Share Allotment And Irregular Appointment Of Directors
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The Hon ble NCLT recently in the matter of Harman Singh Arora and Ors. v. Axestrack Software Solutions Pvt. Ltd. & Ors. (
Company Petition No. 11/241-242/JPR/2018 ) and in Priya Choudhary and Ors. vs. Axestrack Software Solutions Pvt. Ltd. & Ors. (
Company Petition No. 279/241-242/JPR/2019 ) after taking into record the settlement agreement arrived at between the parties
inter se, allowed waiver/ exemption to the Company (
Axestrack Software Solutions Pvt. Ltd ) from the penalty(ies)
qua any inadvertent violations committed in the share(s) allotments and compounding of irregular appointment of Director(s) of the Company.