Indian Law Required for Property Transfer Despite UK Insolvency Court's Decision, Says Company Law Board.

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....Transfer of shares - What the Company Law Board has omitted to see is the fact that despite the procedure adopted by the Insolvency Court in England being in accordance with the Insolvency Laws of United Kingdom, the transfer was in respect of a property that was subject to the Indian Law. Therefore, the Indian law had to be applied, for the purpose of statutory recognition of such a transfer. - HC....