https://www.taxtmi.com/caselaws?id=100044 Share transfers and allotments governed by a company's articles must comply with prescribed unanimity and procedural requirements. Transfers of certain shareholders' shares were substantively valid but defectively registered because unanimous board approval was absent; a non-resident's transfer failed for lack of a transfer deed and unresolved legal impediments, while another transfer remained undisturbed. An additional share allotment was invalid because a director entitled to notice was excluded and unanimity was lacking. Removal of a permanent director under the Companies Act, 1956 required a duly convened meeting with proper notice; insufficient proof of notice rendered the removal void. Consequential measures included shareholding adjustments, a buy-out option, and independent board supervision. en-us Wed, 07 Jan 1981 00:00:00 +0530 Tue, 31 Jan 2012 10:38:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100044 Share transfers and allotments governed by a company's articles must comply with prescribed unanimity and procedural requirements. Transfers of certain shareholders' shares were substantively valid but defectively registered because unanimous board approval was absent; a non-resident's transfer failed for lack of a transfer deed and unresolved legal impediments, while another transfer remained undisturbed. An additional share allotment was invalid because a director entitled to notice was excluded and unanimity was lacking. Removal of a permanent director under the Companies Act, 1956 required a duly convened meeting with proper notice; insufficient proof of notice rendered the removal void. Consequential measures included shareholding adjustments, a buy-out option, and independent board supervision. Case-Laws Companies Law Wed, 07 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100044