Unlawful share transfer penalties impose criminal and monetary sanctions for breaches of statutory transfer and voting restrictions. Penalties attach for acquisition or transfer of shares that contravene sections 108A to 108D: individuals who acquire shares in breach of section 108A face imprisonment and fines; bodies corporate that transfer without required intimation or in breach of section 108C are subject to fines; officers of companies in default face imprisonment and fines; contravention of Central Government orders or directions, or exercising voting rights contrary to directions, attracts heightened criminal penalties and fines, and companies giving effect to such transactions are punishable with fines while officers in default remain liable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unlawful share transfer penalties impose criminal and monetary sanctions for breaches of statutory transfer and voting restrictions.
Penalties attach for acquisition or transfer of shares that contravene sections 108A to 108D: individuals who acquire shares in breach of section 108A face imprisonment and fines; bodies corporate that transfer without required intimation or in breach of section 108C are subject to fines; officers of companies in default face imprisonment and fines; contravention of Central Government orders or directions, or exercising voting rights contrary to directions, attracts heightened criminal penalties and fines, and companies giving effect to such transactions are punishable with fines while officers in default remain liable.
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