Supreme Court of India
Vinod Krishan Khanna & Ors. v. Amritsar Swadeshi Woollen Mills Private Limited
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What the Court ordered
In the result, Civil Appeal No. 5087/2019 [Item No. 5], Civil Appeal No. 8907/2019 [Item No. 5.2] and Civil Appeal No. 8912/2019 [Item No. 5.3] are allowed to the extent indicated by this judgment.
Judgment, page 8
From the headnote
Companies Act, 1956 – ss.397 and 398 – Company Petition filed by Appellants in 2007 against Respondent-company and its’ eight directors before Company Law Board (CLB) – Appellants, who had 14.62% of the paid-up share capital of Respondent-company, agreed to sell their shares and go out of Respondent-company – Independent valuer, appointed by CLB, determined fair price of the shares to be Rs. 10.35 each – National Company Law Tribunal (NCLT), in 2018, directed Respondents to hand over purchase consideration to Appellants @ Rs.10.35 per share alongwith simple interest @9% per annum – Appeal…
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