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The Companies Act 1956 does not deal with succession, nor does it override the laws of succession such as the Indian Succession Act, 1925, or the Hindu Succession Act, 1956, the apex court ruled
The Supreme Court has held that the non-obstante clause in both Section 109A(3) of the Companies Act, 1956 & Bye-law 9.11.7 of the Depositories Act, 1996, does not exclude the legal heirs from their...
The Supreme Court has held that the nomination process under the Companies Act, 1956 (pari materia Companies Act, 2013) does not override succession laws. It is beyond the scope of the company's...
Coming down heavily on National Securities Depositaries Ltd (NSDL) and the Securities and Exchange Board of India (SEBI) for transferring, without any authority of law, fungible shares pledged by Karvy Stock Broking Ltd with four banks and one non-banking finance company (NBFC),
The Appellate Tribunal criticized NSDL for transferring the pledged shares to Karvy's clients without proper legal authority.