https://www.taxtmi.com/caselaws?id=349415 Settlement terms require the petitioners to transfer their entire shareholding to a respondent or its nominees against agreed consideration, with simultaneous delivery of share certificates, executed transfer forms and regulatory compliance for endorsement. On the effective date, defined by acceptance of the settlement and disposal of the transfer petition, specified directors cease to hold office and the petitioners relinquish all interests and future claims in the company, subject to surviving tax indemnities, representations and warranties. The parties also agree to amend the articles, observe one-year non-compete and non-solicitation restrictions, mutually release claims, refrain from disparagement, and submit disputes to Bengaluru courts. The compromise was recorded and the petition disposed of on the settlement terms. en-us Thu, 31 Aug 2017 00:00:00 +0530 Fri, 13 Oct 2017 09:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349415 Settlement terms require the petitioners to transfer their entire shareholding to a respondent or its nominees against agreed consideration, with simultaneous delivery of share certificates, executed transfer forms and regulatory compliance for endorsement. On the effective date, defined by acceptance of the settlement and disposal of the transfer petition, specified directors cease to hold office and the petitioners relinquish all interests and future claims in the company, subject to surviving tax indemnities, representations and warranties. The parties also agree to amend the articles, observe one-year non-compete and non-solicitation restrictions, mutually release claims, refrain from disparagement, and submit disputes to Bengaluru courts. The compromise was recorded and the petition disposed of on the settlement terms. Case-Laws Companies Law Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349415