NEW DELHI : The National Company Law Appellate Tribunal (NCLAT) has directed leading real estate player DLF Ltd to register transfer of 60,000 shares to the legal heirs of one of its deceased shareholders and has imposed a cost of Rs5 lakh for "harassing the poor investors". "We note that the appellant (DLF) is a listed company in real estate and is very well aware of legal formalities. We also note that the respondents are entitled for 60,000 shares as per entitlement on payment of consideration." Following this scheme, Kaura family was entitled for 60,000 shares on convertible debentures issued on right basis. Rejecting DLF's submission, the NCLAT said DLF never informed the respondents that they have not approached them within the limitation period.

Source: Mint January 19, 2020 12:22 UTC