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Finolex Cables: NCLAT suspends own order in Finolex Cables case after SC rap

"In view of the order of Honble Supreme Court it is imperative for us to pass an order for suspending the Judgment of this court dated 13.10.2023 till this Appellate Tribunal is duly apprised of the fact that the result of the Annual General Meeting has been declared or subject to order/direction passed by the Honble Supreme Court," said the NCLAT order.
Ashok Bhushan Deepak Chhabria National Company Law Appellate Tribunal Supreme Court Honble Supreme Court Hon Ble Supreme Court

finolex: SC allows Prakash Chhabria's plea, asks scrutiniser to declare Finolex AGM results forthwith

The Supreme Court has accepted Orbit Electricals plea challenging Finolex Cabless decision to withhold AGM results. The court ordered the scrutiniser to disclose the results immediately and stated that the NCLAT can pronounce the judgement later. Orbit Electricals holds a 30.7% stake in Finolex Cables, while Finolex Industries holds 14.51%. Prakash Chhabria, the largest shareholder of Orbit Electricals, and Deepak Chhabria, his cousin and executive chairman of Finolex Cables, are engaged in a st...
Prahlad Chhabria Deepak Chhabria Prakash Chhabria Supreme Court Finolex Industries National Company Law Appellate Tribunal

prakash chhabria: Prakash Chhabria company moves SC over Finolex cables resolution

Prakash Chhabria-led Orbit Electricals has filed an appeal in the Supreme Court challenging the non-disclosure of the voting outcome regarding the re-appointment of Deepak Chhabria as the Executive Chairman of Finolex Cables at its annual general meeting (AGM). The Supreme Court hearing is expected to take place this week. Last week, Finolex Cables did not disclose the voting results, and the National Company Law Appellate Tribunal (NCLAT) has reserved its order on the matter. Prakash Chhabria a...
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