LIFE INSURANCE CORPORATION OF INDIA, ETC. vs ESCORTS LTD. & OTHERS, ETC.

The Supreme Court granted special leave and vacated the stay order issued by the Bombay High Court, allowing actions based on the requisition by L.I.C. The Court directed that no resolutions passed by the company at the extraordinary general meeting should take effect without prior directions from the Court. The appeals were disposed of while keeping them pending for further directions, and the Transfer Petition was dismissed as the matter was set for final hearing in the High Court.