NCLAT directs release of ₹78.36 lakh to Neetu R. Menda after dismissing IndusInd Bank’s appeal.
The National Company Law Appellate Tribunal (NCLAT), Delhi, has directed the release of ₹78.36 lakh with accrued interest to Neetu R. Menda, affirming a prior order for share allotment compensation. The appeal by IndusInd Bank was dismissed.
The dispute arose from non-allotment of shares despite compliant subscription. NCLAT upheld the principle that investors who follow due process are entitled to remedies for denial of shareholding rights.
This reaffirms investor protection norms under securities law. Companies and intermediaries must honor subscription commitments promptly to avoid compensatory orders.