However, the case is yet to conclude and next hearing of the same is scheduled on February 5.
The family members of South India-focused retail chain –– Nilgiris –– had approached the CLB earlier to block the proposed Rs 35-crore rights issue by UK-based Actis-led management. The CLB in an earlier hearing had declared that there should be no allotment of shares with respect to the issue till further orders.
Sources close to the company (Actis), now claim CLB has modified the interim order and allowed Actis to allot shares to applicants.
Published 22 January 2010, 15:52 IST