Legal Question in Civil Litigation in
Our's is a Public Limited Company limited by shares. We are having a plot of industrial land in Haryana State and passed a resolution in our AGM, to sell it.
One or two shareholders who happen to be brothers of the Managing Director of the Company keep visiting the site of industrial plot and threaten it's guards to forcibly enter the premises.
Now that some buyers have come forward to buy the land, these persons have filed a Caviate in the Court of Tehsildar, to create doubts in mind of the buyer, as if the land is under dispute.
Besides very small share holding by above persons the Company has not taken any loan from them. The property is otherwise free of encumbrances of any nature.
Can the Caviate still hold good and is it legal?
2 Answers from Attorneys
no, such caveat has no meaning and these shareholders cannot stop the sale once the resolution in respect of sale has already been approved
caveat is valid upto 90 days and it by itself is not litigation.
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