https://www.taxtmi.com/caselaws?id=97771 Section 209 permits compulsory acquisition of minority shares but allows the court to order otherwise; where the transferee is effectively identical in substance to the nine tenths majority (incorporated and promoted by that majority) the statutory framework contemplates an independent offeror and the court should scrutinise the transaction. Absent independent valuation evidence subjected to cross examination or an explanation of an overriding company interest, the usual deference to a large majority does not apply. The court should therefore exercise its discretion to protect the dissenting minority; the transferee is not entitled or bound to acquire on the proposed terms and the appeal is dismissed. en-us Fri, 11 Nov 1960 00:00:00 +0530 Fri, 16 Feb 2018 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97771 Section 209 permits compulsory acquisition of minority shares but allows the court to order otherwise; where the transferee is effectively identical in substance to the nine tenths majority (incorporated and promoted by that majority) the statutory framework contemplates an independent offeror and the court should scrutinise the transaction. Absent independent valuation evidence subjected to cross examination or an explanation of an overriding company interest, the usual deference to a large majority does not apply. The court should therefore exercise its discretion to protect the dissenting minority; the transferee is not entitled or bound to acquire on the proposed terms and the appeal is dismissed. Case-Laws Companies Law Fri, 11 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97771