Tax tribunal holds that section 56 would not apply in the absence of any disproportionate allotment of shares to existing shareholders

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On 17 December 2018, the Hon’ble Bombay High Court (Court), in Ravi Arya & Ors v. Palm View Overseas Limited & Ors, passed an important order in relation to an antiarbitration injunction sought by the Plaintiffs in the matter, against an arbitral proceeding seated in Mumbai. The Court held that a challenge to the constitution […]

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