https://www.taxtmi.com/caselaws?id=196194 The Board found that the petitioners had voluntarily transferred their shares, complying with legal provisions and obtaining approval from the board of directors. As a result, the petitioners were no longer shareholders, rendering the petition under section 399 of the Act not maintainable. The application by the applicants was allowed, leading to the dismissal of the petition. en-us Fri, 24 Aug 2012 00:00:00 +0530 Tue, 21 Nov 2017 16:03:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196194 The Board found that the petitioners had voluntarily transferred their shares, complying with legal provisions and obtaining approval from the board of directors. As a result, the petitioners were no longer shareholders, rendering the petition under section 399 of the Act not maintainable. The application by the applicants was allowed, leading to the dismissal of the petition. Case-Laws Companies Law Fri, 24 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196194