https://www.taxtmi.com/caselaws?id=103389 The Supreme Court dismissed the appeals regarding the transfer of shares by Mrs. Surjeet Malhan and Mr. B.K. Malhan to the appellant. The Court held that without express authorization and consideration, the transfers were void under the Contract Act. The lack of specific authority for the transfers rendered them invalid, leading to the rejection of the appeals. The Court upheld the Division Bench's decision in favor of the respondents, emphasizing the requirement of prior written resolution for share transfers, resulting in the dismissal of the appeals without costs. en-us Mon, 03 Feb 1997 00:00:00 +0530 Sat, 18 Mar 2017 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103389 The Supreme Court dismissed the appeals regarding the transfer of shares by Mrs. Surjeet Malhan and Mr. B.K. Malhan to the appellant. The Court held that without express authorization and consideration, the transfers were void under the Contract Act. The lack of specific authority for the transfers rendered them invalid, leading to the rejection of the appeals. The Court upheld the Division Bench's decision in favor of the respondents, emphasizing the requirement of prior written resolution for share transfers, resulting in the dismissal of the appeals without costs. Case-Laws Companies Law Mon, 03 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103389