Shashi Prakash Khemka (deceased) through legal representatives, filed an appeal against NEPC Micon (now called NEPC India Ltd.) and others. The dispute concerns the transfer of shares. The Company Law Board initially addressed the matter, but the Madras High Court reversed its decision, leading the appellants to pursue a civil suit. The appellants argue that the share transfer issue requires adjudication. The Supreme Court considered the impact of amendments to the Companies Act, particularly Section 430, which limits civil court jurisdiction in matters under the NCLT's purview. The cause of action arose before the enactment of these amendments. The appellants were granted permission to file a fresh petition before the NCLT within two months.

Shashi Prakash Khemka (deceased) through legal representatives, filed an appeal against NEPC Micon (now called NEPC India Ltd.) and others. The dispute concerns the transfer of shares. The Company Law Board initially addressed the matter, but the Madras High Court reversed its decision, leading the appellants to pursue a civil suit. The appellants argue that the share transfer issue requires adjudication. The Supreme Court considered the impact of amendments to the Companies Act, particularly Section 430, which limits civil court jurisdiction in matters under the NCLT's purview. The cause of action arose before the enactment of these amendments. The appellants were granted permission to file a fresh petition before the NCLT within two months.