https://www.taxtmi.com/caselaws?id=195607 A shareholder's contractual right of first refusal over specified shares in a public company was treated as an enforceable consensual arrangement and not a prohibited restraint on free transferability under section 111A of the Companies Act, 1956. The arbitral tribunal was also held to have acted within jurisdiction in fixing the valuation date, since it formed part of determining the agreed sale price. No patent illegality or perversity was found in the valuation methodology, including the expert evidence and applied discounts. The award was substantially restored, and the share purchase consideration with interest was directed to be paid. en-us Fri, 08 May 2015 00:00:00 +0530 Sat, 04 Nov 2017 21:39:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195607 A shareholder's contractual right of first refusal over specified shares in a public company was treated as an enforceable consensual arrangement and not a prohibited restraint on free transferability under section 111A of the Companies Act, 1956. The arbitral tribunal was also held to have acted within jurisdiction in fixing the valuation date, since it formed part of determining the agreed sale price. No patent illegality or perversity was found in the valuation methodology, including the expert evidence and applied discounts. The award was substantially restored, and the share purchase consideration with interest was directed to be paid. Case-Laws Indian Laws Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195607