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NCLAT directs DLF to register transfer of 60,000 shares to investor’s legal heirs

January 20, 2020[2020] 113 363 (NCL-AT)

COMPANY LAWS : NCLAT directs appellant real estate player to register transfer of 60,000 shares to legal heirs of one of its deceased shareholders which were due to them on right basis by appellant company and has also imposed a cost of Rs5 lakh for harassing poor investors

• It was found that appellant was a listed company in real estate and was very well aware of legal formalities. By insisting affidavit and indemnity bond again and again inspite of Letter of Administration for succession having been submitted by respondent clearly established that appellants were harassing poor investors.

• (Satya Bhushan Kaura v. DLF Ltd. Order of NCLT in CA No. 06 of 2014 with CP No. 17/58/2013 dated 11-12-2018 (See Annex) - affirmed).

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