Lodha claims 47% in Peerless after NCLT says share allotment to Roys 'void'

It’s face-off between the Roys of Peerless General Finance & Investment Company and Parasmal Lodha after the Kolkata Bench of the National Company Law Tribunal (NCLT) termed allotment of shares to Roys in 1988 as 'void'.

Peerless Managing Director Jayanta Roy said that the order was nothing but a stage of litigation. “It is subject to challenge which we shall certainly do. We are confident that a final verdict from the higher forum will be in our favour.”

Lodha retorted, “They must understand that the delaying tricks that they have been using for 30 years in Calcutta High Court will