The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday declared the allotment of shares by the company in favour of the promoters void. The NCLT also pronounced the purchase of company shares by the promoters from Lodha null and void. These transactions took place way back in 1987 and 1988, respectively.source https://economictimes.indiatimes.com/industry/banking/finance/the-roys-may-lose-management-control-at-peerless/articleshow/93012725.cms
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