NCLT should not interfere with commercial wisdom of company’s stakeholders: NCLAT

Oriental Carbon & Chemicals Ltd Vs OCCL Ltd (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) Delhi recently delivered a significant ruling in the case of Oriental Carbon & Chemicals Ltd (OCCL) vs OCCL Ltd. This judgment addresses the jurisdiction of the National Company Law Tribunal (NCLT) concerning commercial decisions made by a company’s board of directors. Specifically, the NCLAT ruled that once a company board determines a scheme is in the public interest and complies with statutory requirements, the NCLT does not have the authority to alter commercially agr...