https://www.taxtmi.com/caselaws?id=21010 A shareholder of the purchaser-company has no independent locus standi to challenge a pre-emptive purchase order because the company is a separate legal person and the order affects the company's transaction, not the shareholder's personal rights. Chapter XX-C proceedings attract audi alteram partem: the intending purchaser and the transferors are entitled to notice and a reasonable opportunity of being heard before an order under section 269UD(1) is made, and an affected purchaser may challenge the order. An order made without such hearing is vitiated, so the proper course is quashing followed by remand for fresh consideration with equitable conditions. en-us Mon, 08 Mar 1993 00:00:00 +0530 Wed, 18 Nov 2009 16:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21010 A shareholder of the purchaser-company has no independent locus standi to challenge a pre-emptive purchase order because the company is a separate legal person and the order affects the company's transaction, not the shareholder's personal rights. Chapter XX-C proceedings attract audi alteram partem: the intending purchaser and the transferors are entitled to notice and a reasonable opportunity of being heard before an order under section 269UD(1) is made, and an affected purchaser may challenge the order. An order made without such hearing is vitiated, so the proper course is quashing followed by remand for fresh consideration with equitable conditions. Case-Laws Income Tax Mon, 08 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21010