https://www.taxtmi.com/caselaws?id=102320 An agreement for transfer of controlling shares in an unlisted public company is treated as a share transaction, not as a sale of the company's undertaking, so section 293(1)(a) is not attracted merely because control changes hands. A contract to make an inter-corporate investment is not void at the agreement stage simply because the actual investment will require statutory resolution or approval under section 372. The arrangement was also found sufficiently certain, and the presence of refund and interest clauses did not exclude specific performance. Private treaty transfers of shares in unlisted public companies were held outside the mischief targeted by the Securities Contracts (Regulation) Act, 1956. en-us Fri, 06 Dec 1991 00:00:00 +0530 Tue, 14 Feb 2012 14:47:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102320 An agreement for transfer of controlling shares in an unlisted public company is treated as a share transaction, not as a sale of the company's undertaking, so section 293(1)(a) is not attracted merely because control changes hands. A contract to make an inter-corporate investment is not void at the agreement stage simply because the actual investment will require statutory resolution or approval under section 372. The arrangement was also found sufficiently certain, and the presence of refund and interest clauses did not exclude specific performance. Private treaty transfers of shares in unlisted public companies were held outside the mischief targeted by the Securities Contracts (Regulation) Act, 1956. Case-Laws Companies Law Fri, 06 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102320