https://www.taxtmi.com/caselaws?id=372777 The Appellate Tribunal upheld the Board of Directors' decision of Synthite Industries to refuse registration of share transfers to outsiders, finding that the Board acted within its rights to protect the company's interests. The Tribunal determined that the refusal was justified based on concerns of competition and potential hostile takeover, supported by the company's Articles of Association, specifically Article 24. Consequently, the appeals were allowed, and the orders directing registration of the share transfers were set aside. en-us Tue, 06 Nov 2018 00:00:00 +0530 Tue, 22 Jan 2019 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372777 The Appellate Tribunal upheld the Board of Directors' decision of Synthite Industries to refuse registration of share transfers to outsiders, finding that the Board acted within its rights to protect the company's interests. The Tribunal determined that the refusal was justified based on concerns of competition and potential hostile takeover, supported by the company's Articles of Association, specifically Article 24. Consequently, the appeals were allowed, and the orders directing registration of the share transfers were set aside. Case-Laws Companies Law Tue, 06 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372777