https://www.taxtmi.com/caselaws?id=200382 Pre-emptive transfer restrictions in articles require individual shareholder consent before shares may be transferred to an outsider or nominee; board attendance or representative participation does not constitute waiver. Transmission of a deceased shareholder's shares requires the executor's assent where no specific legacy exists, and any subsequent transfer remains subject to the articles' transfer controls. Transactions structured to bypass those restrictions or foreign equity-dilution conditions may demonstrate lack of probity. In a closely held company with shareholder deadlock resembling a partnership arrangement, relief for oppression may include annulment of impugned resolutions, realignment of shareholding, management directions and a fresh general meeting. en-us Wed, 13 Oct 1982 00:00:00 +0530 Tue, 27 Mar 2018 14:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200382 Pre-emptive transfer restrictions in articles require individual shareholder consent before shares may be transferred to an outsider or nominee; board attendance or representative participation does not constitute waiver. Transmission of a deceased shareholder's shares requires the executor's assent where no specific legacy exists, and any subsequent transfer remains subject to the articles' transfer controls. Transactions structured to bypass those restrictions or foreign equity-dilution conditions may demonstrate lack of probity. In a closely held company with shareholder deadlock resembling a partnership arrangement, relief for oppression may include annulment of impugned resolutions, realignment of shareholding, management directions and a fresh general meeting. Case-Laws Companies Law Wed, 13 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200382