https://www.taxtmi.com/caselaws?id=187902 Share transfers made without board approval and contrary to Article 9 of the articles of association were addressed by requiring respondents to offer the proportionate entitlement in the transferred shares to existing shareholders at the original price. A proposed share allotment did not create a right to a larger allocation after the other intended allottee withdrew. Allegations of underbilling, falsified accounts, fund siphoning, deficient stock and purchase records, and asset-price manipulation lacked sufficient supporting evidence. Appointment of relatives to management positions remained within management's prerogative if compliant with the Companies Act. Share transmission under a will required production of the will and no-objection certificates from other heirs. en-us Fri, 13 May 1994 00:00:00 +0530 Thu, 10 Nov 2016 16:38:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187902 Share transfers made without board approval and contrary to Article 9 of the articles of association were addressed by requiring respondents to offer the proportionate entitlement in the transferred shares to existing shareholders at the original price. A proposed share allotment did not create a right to a larger allocation after the other intended allottee withdrew. Allegations of underbilling, falsified accounts, fund siphoning, deficient stock and purchase records, and asset-price manipulation lacked sufficient supporting evidence. Appointment of relatives to management positions remained within management's prerogative if compliant with the Companies Act. Share transmission under a will required production of the will and no-objection certificates from other heirs. Case-Laws Companies Law Fri, 13 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187902