NCLAT upholds NCLT Mumbai's order granting waiver under Section 244(1)(b) of Companies Act 2013 to respondents.
Tribunal finds company petition maintainable as 209 consenting members met 1/5th threshold of 977 eligible voting members.
Appellant's objections on waiver application timing and consent validity were rejected based on election circular evidence.
Appeal dismissed, allowing oppression and mismanagement petition under Sections 241-242 to proceed on merits.