Supreme Court of India

Smt. Claude-lila Parulekar v. M/s. Sakal Papers Pvt. Ltd. and Ors.

Neutral citation

Reported as [2005] 2 S.C.R. 1063

Bench Ruma Pal and P. Venkatarama Reddi JJ.

Decided 18 March 2005

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

3 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that the ends of justice would be met by directing that the appellant should be compensated with an amount of Rs. 3 crores to be paid by the company to the appellant in full and final settlement of the B appellant's claims in respect of the 3417 and 93 shares.

Judgment, page 49

From the headnote

Companies Act, 1956-Sections 36, 108, 155 and 188: Company Shares-Transfer, issue and allotment of-Joint shares and shares of two of the shareholders-Transfer of-By 3 of the 4 shareholders- To third party skipping the hierarchy of purchasers of shares provided under Artir:les of Association of Company-Despite acceptance of offer made to first category of purchasers-Validity of transfer-By virtue of the transfer of shares, third party got majority of shares-Issue of increased share capital by the third party-Without compliance of Articles of Association and Section 188 of the Act-Allotment of

Authorities it was built on

1966 Gomathinayagam Pillai and Ors. v. Pallaniswami Nadar cited by 12
1998 Ammonia Supplies Corporation (p) Ltd. v. Modern Plastic Containers Pvt. Ltd. and Ors. cited by 5
1970 Naresh Chandra Sanyal v. Calcutta Stock Exchange Association Ltd. cited by 1

Where later benches applied it

2026 Pannalal Bhansali v. Bharti Telecom Limited referred to
2012 Supreme Court Bar Association & Ors v. B.D. Kaushik referred to
2011 Chatterjee Petrochem (i) Pvt. Ltd. v. Haldia Petrochemicals Ltd. & Ors. referred to

Of those, 3 referred to

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