Deciding validity or otherwise of Gift Deed is outside the jurisdiction of NCLT

Satori Global Limited Vs Shailja Krishna (NCLAT Delhi) NCLAT Delhi held that the NCLT has no jurisdiction to decide the validity or otherwise of the `Gift Deed’ more so when `fraud’ and `coercion’ is alleged. Facts- M/s. Satori Global Limited (The Company), was incorporated in the year 2006 and the Petitioner Ms. Shailja Krishna and her Husband Mr. Ved Krishna were the original Promoters and the only Shareholders of the said Company. The authorized Share Capital of the Company was Rs.2 Crs./- and the subscribed Paid-up Capital was Rs.3Lakhs/- as on 2006. Initially, Ms. Shailja Krishna su...