https://www.taxtmi.com/caselaws?id=408448 The Tribunal reported that the transfer of some shares by nominee directors was prima facie valid because no specific restraint was shown, allegations of collusion and fraud were unsupported at the interim stage, and the issue required full adjudication. It also held that, under the shareholding agreement's arbitration clause, the wider inter se disputes were referable to arbitration under Section 8 of the Arbitration and Conciliation Act, 1996, while the share transfer and rights issue disputes stayed outside arbitration. The sale of rights issues to raise funds was treated as prima facie valid in view of the company's financial distress and urgency, with final consideration left open. en-us Thu, 13 May 2021 00:00:00 +0530 Fri, 11 Jun 2021 08:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408448 The Tribunal reported that the transfer of some shares by nominee directors was prima facie valid because no specific restraint was shown, allegations of collusion and fraud were unsupported at the interim stage, and the issue required full adjudication. It also held that, under the shareholding agreement's arbitration clause, the wider inter se disputes were referable to arbitration under Section 8 of the Arbitration and Conciliation Act, 1996, while the share transfer and rights issue disputes stayed outside arbitration. The sale of rights issues to raise funds was treated as prima facie valid in view of the company's financial distress and urgency, with final consideration left open. Case-Laws Companies Law Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408448