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Transmission of shares of deceased to his widow without considering other legal heirs was illegal: NCLAT

February 7, 2019[2019] 101 taxmann.com 474 (NCL-AT)
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CL: Where respondent directors of a company alleged illegal transmission of shares of deceased director to his widow ignoring other heirs; illegally change in designation of appellant 2 from MD to Chairman, in view of fact that appellants failed to produce any documents effecting said transmission, also no notice was issued to shareholders for holding meeting for approval of appellant 2 as Chairman, NCLT was justified in directing company to enter names of all legal heirs of deceased and, to remove appellant 2 from post of Chairman

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