<h1>Tribunal Cancels Illegal Share Transfers Under Section 43, Restores Shares to Former Chief Minister and Spouse</h1> The National Company Law Tribunal (NCLT) Hyderabad bench allowed a petition filed by a former state Chief Minister seeking to cancel the transfer of shares in a private power company from him and his spouse to his sister and mother. The petitioner requested the tribunal to annul the share transfers and reinstate his and his spouse's names as shareholders. The tribunal ruled in favor of the petitioner, deeming the transfers illegal. The sister's legal counsel indicated an intention to appeal the decision to a higher tribunal or court. The shares in dispute represent significant ownership stakes held by the petitioner, his spouse, and mother, with the remainder held by a private realty firm. The dispute arose following a deterioration in familial relations between the petitioner and his sister, who currently leads a political party in the state.