ST. MARY'S HOTEL PVT. LTD. vs T.O. ALEYAS .

The Supreme Court dismissed the special leave petitions filed by St. Mary's Hotel Pvt. Ltd. and others, affirming the High Court's decision that set aside the Board Resolution dated 17.04.2002 regarding the transfer of shares among family members. The Court held that the High Court was justified in its findings, as the Company Law Board had previously upheld the validity of the share transfer, but the High Court's ruling extended beyond the scope of the appeal under Section 10F of the Companies Act, 1956. The judgment emphasized the importance of adhering to procedural norms in corporate governance and family shareholding disputes.