AB Limited is controlled by two groups headed by C and D. Differences arose between C and D in management of AB Limited and this difference landed before the Company Law Board (CLB) for adjudication. At the intervention of CLB a settlement was reached between C and D. This settlement was incorporated in the Order of the CLB. Subsequently the settlement was not implemented. C applied to CLB for enforcing the implementation of the settlement while D applied for the recall of the order of CLB. CLB refused to enforce the settlement. Is CLB right in refusing to enforce the implementation of its order?
Monday, February 16, 2009
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