https://www.taxtmi.com/caselaws?id=191575 Public financial institutions disposing of large share blocks are subject to scrutiny where the transaction may facilitate concentration of control in a private group, but interference requires a showing of illegality, bad faith, or disregard of public interest. The challenge to the share transfer was not granted operative relief because the shares had already been bought back by the financial institutions. On the mega debenture issue, preferential reservation under a special resolution was treated as permissible within the capital issues framework, and the consent was not shown to suffer from non-application of mind or arbitrariness. The challenge failed, and the consent order was sustained. en-us Tue, 16 Apr 1991 00:00:00 +0530 Fri, 07 Apr 2017 16:45:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191575 Public financial institutions disposing of large share blocks are subject to scrutiny where the transaction may facilitate concentration of control in a private group, but interference requires a showing of illegality, bad faith, or disregard of public interest. The challenge to the share transfer was not granted operative relief because the shares had already been bought back by the financial institutions. On the mega debenture issue, preferential reservation under a special resolution was treated as permissible within the capital issues framework, and the consent was not shown to suffer from non-application of mind or arbitrariness. The challenge failed, and the consent order was sustained. Case-Laws Indian Laws Tue, 16 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191575