https://www.taxtmi.com/caselaws?id=113794 A pre-emption clause over shares of a public company was analysed as inconsistent with the statutory policy of free transferability under section 111A read with section 9 of the Companies Act, 1956, and therefore void to that extent. The text also explains that, on the valuation issues, the arbitrator was not treated as having exceeded jurisdiction by fixing 3-5-2003 as the valuation date because the parties had proceeded on a concluded bargain and only the rate remained open. It further states that the award on valuation was supported by evidence, including the discount applied to the shares and the use of book value for certain investments, and was not vitiated by patent illegality. en-us Mon, 15 Feb 2010 00:00:00 +0530 Thu, 16 Oct 2014 09:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113794 A pre-emption clause over shares of a public company was analysed as inconsistent with the statutory policy of free transferability under section 111A read with section 9 of the Companies Act, 1956, and therefore void to that extent. The text also explains that, on the valuation issues, the arbitrator was not treated as having exceeded jurisdiction by fixing 3-5-2003 as the valuation date because the parties had proceeded on a concluded bargain and only the rate remained open. It further states that the award on valuation was supported by evidence, including the discount applied to the shares and the use of book value for certain investments, and was not vitiated by patent illegality. Case-Laws Companies Law Mon, 15 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113794