Exemption under section 50CA for unquoted share transfers where Tribunal approved resolution plans follow board suspension. Rule 11UAD exempts transfers of movable property consisting of unquoted shares from the operation of section 50CA where the Tribunal has suspended the company's board on a Central Government application and appointed Government nominated directors, and where such shares are transferred pursuant to a Tribunal approved resolution plan after affording a reasonable opportunity of being heard to the jurisdictional Principal Commissioner or Commissioner.
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.
Exemption under section 50CA for unquoted share transfers where Tribunal approved resolution plans follow board suspension.
Rule 11UAD exempts transfers of movable property consisting of unquoted shares from the operation of section 50CA where the Tribunal has suspended the company's board on a Central Government application and appointed Government nominated directors, and where such shares are transferred pursuant to a Tribunal approved resolution plan after affording a reasonable opportunity of being heard to the jurisdictional Principal Commissioner or Commissioner.
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