NCLT Bengaluru dismissed CA No. 18/2024 seeking vacation of interim order restraining share allotment due to incomplete information.
Arka Insurance Broking argued fund infusion via share issuance was needed to avoid penalties under Companies Act for unallotted shares.
The tribunal found lack of details on investment amount, board minutes, agreement, and financial statements crucial for decision.
The main oppression and mismanagement petition CP No. 71/BB/2023 remains pending with other applications listed for future hearings.