https://www.taxtmi.com/caselaws?id=237509 Mandatory notice to directors under section 286, exclusion of interested directors under section 300, and possession of share certificates with duly executed transfer forms under section 108 were treated as essential requirements for valid board action on allotment and transfer of shares. The text states that the impugned resolutions and consequential share transfers could not stand where these statutory safeguards were breached, and that the doctrine of indoor management did not cure the irregularities apparent on the record. It also states that derivative allotment directions in favour of a minority shareholder failed once the underlying transfer was invalid, while a prima facie false affidavit justified inquiry and a criminal complaint under section 340 CrPC. en-us Fri, 31 May 2013 00:00:00 +0530 Mon, 30 Sep 2013 06:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237509 Mandatory notice to directors under section 286, exclusion of interested directors under section 300, and possession of share certificates with duly executed transfer forms under section 108 were treated as essential requirements for valid board action on allotment and transfer of shares. The text states that the impugned resolutions and consequential share transfers could not stand where these statutory safeguards were breached, and that the doctrine of indoor management did not cure the irregularities apparent on the record. It also states that derivative allotment directions in favour of a minority shareholder failed once the underlying transfer was invalid, while a prima facie false affidavit justified inquiry and a criminal complaint under section 340 CrPC. Case-Laws Companies Law Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237509