Archive · 6 Sep 2025
Saraswathi Powers Challenges NCLT Ruling on Share Transfer
Saraswathi Powers is in a legal fight.
A company called Saraswathi Powers disagrees with a court decision.
The court had said that shares of the company should not have been transferred to a woman.
Saraswathi Powers went to a higher court to complain.
They say the first court didn't listen to their side of the story.
They believe the shares were transferred correctly.
They are worried that if the court's decision stays, it will be hard to run the company.
So, they want the higher court to reverse the first court's decision.
Saraswathi Powers appealed to the NCLAT against the NCLT's decision.
The NCLT's initial ruling allowed Y.S. Jagan Mohan Reddy's request to cancel the share transfer.
The share transfer involved the transfer of shares to Y.S. Vijayamma.
Saraswathi Powers claims the NCLT did not consider their arguments.
The company fears that the cancellation could complicate its management.
- Who
- Saraswathi Powers and Industries Ltd is challenging the ruling.
- What
- Saraswathi Powers is appealing the NCLT's decision to cancel the share transfer.
- When
- The NCLAT was approached after the NCLT issued orders on July 29.
- Where
- The NCLAT bench at Chennai. NCLT in Hyderabad.
- Why
- Saraswathi Powers believes the NCLT's decision was made without considering their arguments.
- Company
- Saraswathi Powers and Industries Ltd
- Legal Body Approached
- NCLAT (National Company Law Appellate Tribunal)
- NCLT Decision Challenged
- Cancellation of share transfer
- Original NCLT Location
- Hyderabad
- Appellant's Argument
- NCLT judgment didn't consider their arguments