Tuesday, 10 March 2015

SC: Lessor rightly demanded transfer fee from respondent-Co as it transferred industrial plot to fam

CL: Where respondent-companies' shareholders transferred their company/shares to new shareholders for material financial gains, without taking written consent of lessor i.e. appellant-corporation, this adversely affected aims and objectives of appellant-corporation and amounted to transfer of interest, hence, appellant-corporation rightly issued notice demanding transfer fee


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