Exit offer requirement for dissenting shareholders when promoters change company objects, except where no controlling shareholders exist. Promoters or shareholders in control must provide an exit offer to dissenting shareholders when there is a change in the company's objects or a variation in contractual terms related to objects disclosed in the offer document, to be effected in the prescribed company law manner; the requirement does not apply where no identifiable promoters or controlling shareholders exist.
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.
Exit offer requirement for dissenting shareholders when promoters change company objects, except where no controlling shareholders exist.
Promoters or shareholders in control must provide an exit offer to dissenting shareholders when there is a change in the company's objects or a variation in contractual terms related to objects disclosed in the offer document, to be effected in the prescribed company law manner; the requirement does not apply where no identifiable promoters or controlling shareholders exist.
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