• Corporate & Commercial Law Briefs

    S. Gopakumar Nair & Anr. Vs. OBO Betttermann India Private Limited & Anr. [NCLAT Judgement – 09.07.2019]

    Decided by the Hon’ble National Company Law Appellate Tribunal, New Delhi (Company Appeal (AT) No. 272/2018 – Decided on 09.07.2019) (Coram – Justice A.I.S. Cheema and Mr. Balvinder Singh)   [Highlights: The provision of purchase of minority shareholding under Section 236 of the Companies Act, 2013 is only applicable to cases of an amalgamation, share exchange, conversion of securities or for other similar reasons, and not every case where 90% or more shareholding in a company is acquired. Second, valuation of shares for the purchase of minority shareholding under Section 236(2) must be done by a “registered valuer” and cannot be replaced by that of a chartered accountant]   Facts…