Shareholder's name rightly struck off as transfer of shares in lieu of consideration hadn't proved t

CL : Where petitioner-shareholder had received sale consideration in respect of shares transferred in favour of respondents, petitioner was party to such sale transaction and had failed to prove that impugned transfer of shares was invalid, ineffective, void and ultra vires and, therefore, petititoner's name was removed from register of members of company for sufficient cause and she being not a shareholder/member on date of filing of petition under sections 397 and 398 was not eligible to file