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of <h1>Clause 235: Transferee Can Acquire Shares from Dissenting Shareholders After 90% Approval in Share Transfer Scheme</h1> Clause 235 of the Companies Bill, 2011, outlines the process by which a transferee company can acquire shares from dissenting shareholders when a scheme or contract involving share transfer is approved by at least 90% of the shareholders. The transferee company can notify dissenting shareholders of its intent to acquire their shares within two months after the initial four-month approval period. If dissenting shareholders do not successfully challenge this in the Tribunal, the transferee company can proceed with the acquisition and must pay the agreed consideration. The transferor company holds these funds in trust and distributes them to entitled shareholders within sixty days.
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