A disqualified Director of a Pvt Ltd Company sold the company land to one of his relatives (for book entry only) misrepresenting as a Director for X Crores and the relative in turn sold the land to a Contractor for the same amount, officially, but there was an additional alleged cash Deal in Crores, over and above the X Crores officially paid.
The Shareholders of the company appealed to the High Court to set aside the illegal sale, return the money and restore the land back to the company.
Question: Will the Contractor have any right to appeal against the High Court Order to set aside the second sale also, just bcoz the first sale was illegal. What are his rights? Any Apex Court case laws could be useful. Thanks for your time and opinion.
