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Transfer of co's shares to group co. without any boards resolution by either co. was illegal: NCLAT

June 21, 2019[2019] 106 102 (NCL-AT)

CL: Where appellant company's shares in R-1 company were transferred to respondent group's own company without any board resolution being passed by either company, said transfer was illegal and shares were to be continued to stand in name of appellant's as if they had never been transferred

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