https://www.taxtmi.com/caselaws?id=103003 Dispute concerned validity of executor transfers, a fresh allotment of shares, and entitlement to relief to rectify the members register or unwind allotment. The HC held that transfers by executors were effective where will and trust instruments authorised majority action and transfer forms were valid; auditor-certified valuation under the company's pre-emption rules was binding absent proof of fraud or collusion, so collateral attack failed. The fresh issue, though procedurally irregular in notice, was effectively ratified by members and could not be unwound via the statutory remedy where majority rights were exercised and restoration proved impractical. Failure to satisfy a deposit condition precluded equitable relief. en-us Thu, 02 May 1991 00:00:00 +0530 Mon, 11 May 2020 09:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103003 Dispute concerned validity of executor transfers, a fresh allotment of shares, and entitlement to relief to rectify the members register or unwind allotment. The HC held that transfers by executors were effective where will and trust instruments authorised majority action and transfer forms were valid; auditor-certified valuation under the company's pre-emption rules was binding absent proof of fraud or collusion, so collateral attack failed. The fresh issue, though procedurally irregular in notice, was effectively ratified by members and could not be unwound via the statutory remedy where majority rights were exercised and restoration proved impractical. Failure to satisfy a deposit condition precluded equitable relief. Case-Laws Companies Law Thu, 02 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103003