NCLAT directs Vadilal Enterprises, Vadilal Int'l to keep boards status quo

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NCLAT directs Vadilal Enterprises, Vadilal Int'l to keep boards status quo - Business Standard

Quick Summary:

Passing an interim order, a two-member NCLAT bench said it has already listed the appeal for final hearing on September 26, 2024, over a dispute of the Vadilal Gandhi family, hence any change in the board structure would further complicate the issues.

"Considering the fact that on August 6, 2024, we have already passed an order not to precipitate the matter and hence the removal of a director and an appointment of a new one would further complicate the issues involved when we have already set the appeal for final hearing the matter being listed on September 26, 2024," the NCLAT said.

The appellate tribunal NCLAT has directed Vadilal Enterprises and Vadilal International to maintain the status quo of the structure of their boards until further orders.