New Delhi, March 12 -- The Supreme Court has held that an order of the National Company Law Appellate Tribunal (NCLAT) cannot be considered illegal merely because the bench deciding the case had a majority of technical members.
A bench comprising Justices Sanjay Kumar and K. Vinod Chandran made the observation while dismissing appeals by minority investors challenging the capital reduction scheme of Bharti Telecom Limited.
Bench Composition Challenge Rejected
The appellants argued that the NCLAT bench hearing their case consisted of two technical members and one judicial member. Citing the Union of India v. Madras Bar Association (2010) Constitution Bench ruling, they argued that tribunals replacing High Courts must have a majority of...