17-Oct-2022 12:58 PM
Funding = Sir minimum 90% should be subscribed in IPO but noi not in case of offer for sale. But if we are making IPO + OFS then 90% should be of only IPO PART. Is it correct? MCS = Sir, NCLT has exclusive power in company law matters then how in many case laws of mcs writ petition is filed before high court. And then why high court doesn't transfer such cases to nclt?
1. Yes. 90% of IPO part 2. Writ Petition is an order by a higher court to a lower court or courts including the tribunals, forums or any public authority, directing them to do something or stop them from doing something. A writ petition can be filed by any individual in the Supreme Court under article 32 or High court under article 226 of the Indian constitution when his Fundamental Rights have been violated by a government authority or body. Only Supreme court and high court have power to issue writ. Hence, in most of the cases writ petition is filed before high court. It is a discretionary power which means that the High Court may or may not issue a writ.
Answer given by Shubhamm Sir at 26-Oct-2022 11:02 PM