Thursday, March 5, 2020

Shareholder ceased to be a member of co. to maintain application u/s 241 if its shares were auctioned and transferred

COMPANY LAW : Where shares of petitioner in R1 company were auctioned and transferred to successive bidder as per recovery order passed for default of R1 in repayment of loan, petitioner ceased to be a member of company by virtue of auction of his shares; therefore petition filed by petitioner under section 241 was not maintainable

from www.taxmann.com Latest Case Laws https://ift.tt/2uQPlB8
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