Family Dispute: Articles of Association Prevail Over Unsigned MOU in Shareholding Rights, Subject to Companies Act Rules.

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....Family dispute over management of a Company - It cannot be disputed that the Company’s Article of Associations (AoA) is more powerful than the MOU and that too not signed MOU by all members of the Company/ family partition shareholding right. - If, there is overlapping provision between the Companies Act will prevail over the AOA. Accordingly, AoA will prevail over MOU, unless the MOU is legally binding and are appropriately incorporated in the AoA through the Amendment as prescribed under the Companies Act for the amendment of AoA. - AT....