https://www.taxtmi.com/caselaws?id=106996 The court affirmed that restrictions in Article 7 of the Articles of Association remain valid even in a court auction sale. The company was justified in refusing transfer and registration of shares bought at auction, as the sale did not override existing transfer restrictions. The appellate court corrected the trial judge's error in failing to differentiate between rights in a court sale and company discretion. The appeal was dismissed without costs. en-us Mon, 19 Mar 2001 00:00:00 +0530 Fri, 16 Mar 2012 18:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106996 The court affirmed that restrictions in Article 7 of the Articles of Association remain valid even in a court auction sale. The company was justified in refusing transfer and registration of shares bought at auction, as the sale did not override existing transfer restrictions. The appellate court corrected the trial judge's error in failing to differentiate between rights in a court sale and company discretion. The appeal was dismissed without costs. Case-Laws Companies Law Mon, 19 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106996