Report No. 86
Chapter 6
Sale to Shareholder: Section 3
I. Shareholders Entitled to Apply for Sale
6.1. Section 3-A source of trouble.-
We now proceed to section 3, which has been judicially described as a "source of trouble".1 The serious anomaly brought about by section 3(1), which we shall discuss presently,2 seems to justify this description.
1. Subbamma v. Veerayya, AIR 1932 Mad 15 (16).
2. Paras. 6.2 to 6.7, infra.
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