Remember | Register | Forgot Password?
Bookmark This Page   RSS Feeds  Follow On Twitter

 

Search for Lawyers          
    

Home > Experts > Legal Documents > Mou and share transfer



Please Wait ..

Mou and share transfer (Legal Documents)

Report Abuse
This query is : Resolved


Author : Sumit Khandelwal

Posted On 05 February 2012 at 17:42

Sir,

I had takeover the private limited company by following companies act,1956 and also articles of association of the company. And during the takeover process I had entered on MOU with the party and major part of the MOU was "to pay all outstanding dues of bank on the company during takeover process".

Party has transferred all their shares on my name but the bank is still remaining and and bank is not aware with the MOU. In the starting one of the share holder of the company had wrote to bank that the company is being take over by me and in this process I will pay all dues and meanwhile they will transfer all the shares on my name.

Now, I have big concerned that is bank is not aware with the MOU and party has lodged a suit in Company Law Board, Delhi to revoke the share transfer that was done on the base of MOU.

As bank is still remain/pending and shares has been transferred , and hence the liability which I had to pay is not paid my me and only focus made by me on share transfer , then in this case will the share transfer get null and void?

Please reply,




Expert : prabhakar singh

Posted On 07 February 2012 at 07:01

“SORRY, Can't reply THESE TYPE OF QUERY having Repetitions, Academic, contains SMS Language, Commercial, Vague and Imaginary query.”



Previous

Next

You need to be the querist or approved Lawyersclubindia expert to take part in this query .


Click here to login ( Members Login ) now







Similar Queries :










Quick Links



Browse By Category



Subscribe to Experts Feed
Enter your email to receive Experts Updates:







web analytics