https://www.taxtmi.com/caselaws?id=110948 A wholly owned subsidiary used as the vehicle for a parent company's investment may, on the facts, be treated with the parent as a single economic unit, so the subsidiary's contractual obligations can bind the holding company. The pre-emption clause in the shareholders' agreement was treated as a qualified right of first refusal, not an absolute restraint on the proposed sale structure, and it did not require sale on terms chosen by the pre-emptor. Waiver was inferred where the applicant, with full knowledge of its rights, participated in the bidding process and acted inconsistently with the asserted pre-emptive right, so interim relief was refused. en-us Fri, 12 Aug 2005 00:00:00 +0530 Thu, 19 Apr 2012 12:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110948 A wholly owned subsidiary used as the vehicle for a parent company's investment may, on the facts, be treated with the parent as a single economic unit, so the subsidiary's contractual obligations can bind the holding company. The pre-emption clause in the shareholders' agreement was treated as a qualified right of first refusal, not an absolute restraint on the proposed sale structure, and it did not require sale on terms chosen by the pre-emptor. Waiver was inferred where the applicant, with full knowledge of its rights, participated in the bidding process and acted inconsistently with the asserted pre-emptive right, so interim relief was refused. Case-Laws Companies Law Fri, 12 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110948