Redemption of shares: prior approval and bye law or agreement based redemption required, at face value. The substituted section 35 prescribes that shares held by authorities in clauses (c) and (d) of section 25(1) require prior approval for redemption and are redeemable only in a manner agreed with those authorities; shares held by authorities in clauses (e) to (g) of section 25(1) are redeemable pursuant to the society's bye laws or, if silent, as agreed with those authorities, and all redemptions must be at face value.
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.
Redemption of shares: prior approval and bye law or agreement based redemption required, at face value.
The substituted section 35 prescribes that shares held by authorities in clauses (c) and (d) of section 25(1) require prior approval for redemption and are redeemable only in a manner agreed with those authorities; shares held by authorities in clauses (e) to (g) of section 25(1) are redeemable pursuant to the society's bye laws or, if silent, as agreed with those authorities, and all redemptions must be at face value.
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