https://www.taxtmi.com/caselaws?id=384032 The Appellate Tribunal upheld the Tribunal's interpretation of Articles 7 and 8, concluding that the transfer of shares among existing members did not violate the AOA. The appeal was dismissed for lack of merit, as the transfer did not constitute oppression or mismanagement. The Tribunal clarified that Article 7 applies to transfers to outsiders, while Article 8 allows transfers among existing members without Board approval, thus not triggering preemptive rights under Article 7. The balance of power due to share transfers among existing members was deemed outside the scope of these Articles. en-us Wed, 03 Jul 2019 00:00:00 +0530 Mon, 05 Aug 2019 07:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384032 The Appellate Tribunal upheld the Tribunal's interpretation of Articles 7 and 8, concluding that the transfer of shares among existing members did not violate the AOA. The appeal was dismissed for lack of merit, as the transfer did not constitute oppression or mismanagement. The Tribunal clarified that Article 7 applies to transfers to outsiders, while Article 8 allows transfers among existing members without Board approval, thus not triggering preemptive rights under Article 7. The balance of power due to share transfers among existing members was deemed outside the scope of these Articles. Case-Laws Companies Law Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384032