St. Mary'S Hotel Pvt. Ltd. And Ors vs T.O. Aleyas And Ors

The Supreme Court dismissed the special leave petitions filed by the Aleyas Group against the High Court's judgment which set aside the Resolution dated 17.04.2002 regarding the transfer of shares in St. Mary’s Hotel Private Limited. The Court upheld the findings of the Company Law Board that the transfer of 2,20,000 shares from Bobby Kuriakose to T.O. Abraham was valid, despite the High Court's broader annulment of the Resolution. The Court emphasized the lack of evidence supporting the Aleyas Group's claims and affirmed the validity of the CLB's earlier decision under Section 10F of the Companies Act, 1956.