The APL, for example, cannot jump steps to directly take (decisions) or pre-empt business decisions in respect of the entities not under their direct control, the judges said.
The bench, however, clarified that as and when any major decision is required to be taken regarding transactions/transfers of the shares themselves, the APL mandatorily has to approach the testamentary court for necessary orders.
“Also, the APL itself, being the repository of interest of the estate as the representative of the testamentary court, shall have to take appropriate directions and orders from the testamentary court prior to initiating or contesting any litigation. However, day-to-day decisions at every stage of such litigation need not be sought from the court, which would be an unnecessary burden on the court and would put an unwarranted spanner in the wheels of the APL,” the Court observed.
Source: Barandbench
