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The National Company Law Tribunal (NCLT) has urged Analjit Singh and his wife Neelu Analjit Singh to enter into settlement talks to resolve the dispute over the management and affairs of Max Ventures and Investment Holding Private Limited, the family holding company in which she owns 24.1% stake.
A two-judge bench comprising NCLT president Justice Ramalingam Sudhakar and Justice Avinash K Srivastava told counsels of both parties to hold two separate meetings on September 3 and September 9 to further the agenda of a settlement and report back to the tribunal on September 14.
Justice Sudhakar termed the issue a family dispute and not a typical company dispute while urging the two parties to enter a settlement which would allow Neelu Analjit Singh an honourable exit. He said that if no breakthrough is made on a settlement the case will continue to be heard on merits.
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