High Court of Karnataka Allows Petition of Allottee in KIADB Act Case — Condition Requiring Prior Permission for Share Transfer Declared Ultra Vires. The Court held that the Karnataka Industrial Areas Development Board cannot impose restrictions on transfer of shares of an allottee company as such power is not conferred by the Karnataka Industrial Areas Development Act, 1966.
12 Jan 2024The petitioner, M/s. Kamalalayaa Real Estates LLP, a limited liability partnership firm, was allotted land by the Karnataka Industrial Areas Developme...
