NCLAT dismisses plea against conversion of public co. to private Co as it wasn’t in contravention of the Act

CL : Where appellant a shareholder of respondent company, filed instant appeal against order passed by Tribunal whereby prayer of respondent to change its status from public to private company was accepted, in view of fact that there was nothing on record to suggest that conversion would not be in interest of company and it was in contravention of any of provisions of Act, instant appeal was to be dismissed

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