Despite family settlement, transfer of share must be in accordance with law

Company Law Board, Mumbai Bench Perennial Trading (P.) Ltd. V/s. Pankaj Extrusions Ltd. CP NO. 11 OF 2009 OCTOBER 27, 2011 ORDER 1. The present petition is filed under section 11(4)(a)(ii) of the Companies Act, 1956 (‘the Act’) seeking directions to the respondent-company to cancel the transfer entries in the name of R3 for 7,81,500 shares and restore the said shares to the petitioners in their respective ledger folios and make suitable entries in the register of members. 2. Shri M.S. Bhardwaj, learned counsel, appeared on behalf of the petitioner submitted the bri...