https://www.taxtmi.com/caselaws?id=258391 A completed share transfer supported by consideration, bank entries, endorsed certificates and register entries was treated as effective despite alleged non-compliance with transfer formalities, and rectification of the register was rejected. The note also states that a petition for oppression and mismanagement was not maintainable where the claimant was no longer a member at the filing date and had delayed the action despite earlier knowledge of the transfer. Separate reliance was placed on lack of clean hands: inconsistent pleadings, retention of the transfer consideration, and non-disclosure of material facts were treated as inequitable conduct, causing the composite petition to fail in entirety. en-us Thu, 30 Oct 2014 00:00:00 +0530 Wed, 08 Apr 2015 08:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258391 A completed share transfer supported by consideration, bank entries, endorsed certificates and register entries was treated as effective despite alleged non-compliance with transfer formalities, and rectification of the register was rejected. The note also states that a petition for oppression and mismanagement was not maintainable where the claimant was no longer a member at the filing date and had delayed the action despite earlier knowledge of the transfer. Separate reliance was placed on lack of clean hands: inconsistent pleadings, retention of the transfer consideration, and non-disclosure of material facts were treated as inequitable conduct, causing the composite petition to fail in entirety. Case-Laws Companies Law Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258391