https://www.taxtmi.com/caselaws?id=110636 A proposed transfer of a stage carriage permit standing in a company's name may be open to objection by a person with a direct derivative interest, not only by the transferor and transferee. The Madras HC noted that section 82(1) of the Motor Vehicles Act, 1988 and the Tamil Nadu Motor Vehicles Rules generally contemplate notice and enquiry between the parties to the transfer, but that position is different where the permit is held by a company and the objector claims an inherited interest linked to a deceased director's substantial shareholding. Because the transfer and sale could affect company assets and the value of the share interest, the third respondent was entitled to be heard and had locus standi to object. en-us Mon, 01 Dec 2003 00:00:00 +0530 Tue, 17 Apr 2012 18:22:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110636 A proposed transfer of a stage carriage permit standing in a company's name may be open to objection by a person with a direct derivative interest, not only by the transferor and transferee. The Madras HC noted that section 82(1) of the Motor Vehicles Act, 1988 and the Tamil Nadu Motor Vehicles Rules generally contemplate notice and enquiry between the parties to the transfer, but that position is different where the permit is held by a company and the objector claims an inherited interest linked to a deceased director's substantial shareholding. Because the transfer and sale could affect company assets and the value of the share interest, the third respondent was entitled to be heard and had locus standi to object. Case-Laws Companies Law Mon, 01 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110636