Compulsory acquisition of minority shares permitted after supermajority approval; dissenting shareholders may apply to the Tribunal within one month. Where a transferee company's offer has been approved by holders of not less than nine-tenths in value of the shares, the transferee intends to acquire the specified shares held by the addressee at the price paid to the approving shareholders. The notice states that a dissenting shareholder may apply to the Tribunal within one month; absent such an application or a contrary Tribunal order, the transferee is entitled and bound to acquire those shares on the stated terms.
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.
Compulsory acquisition of minority shares permitted after supermajority approval; dissenting shareholders may apply to the Tribunal within one month.
Where a transferee company's offer has been approved by holders of not less than nine-tenths in value of the shares, the transferee intends to acquire the specified shares held by the addressee at the price paid to the approving shareholders. The notice states that a dissenting shareholder may apply to the Tribunal within one month; absent such an application or a contrary Tribunal order, the transferee is entitled and bound to acquire those shares on the stated terms.
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