NCLAT upheld the NCLT’s decision to allow a minority group of IMPPA to pursue legal action. The minority members alleged financial mismanagement and irregularities within the organisation. The petition received support from 209 members, which met the required threshold under the Companies Act. IMPPA’s arguments questioning the petition’s validity were rejected by the NCLAT. This ruling enables an investigation into the alleged mismanagement within IMPPA.
Read more at The Economic Times
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