UNI workers victory

IN Media Watch Briefs | 23/01/2008

The company law board has held as null and void the share transfer from United News of India to Media West owned by Subhash Chandra. In its 41-page order, the CLB said: "It is an admitted fact that in the UNI, notwithstanding that there is no restriction on the number of shares that a member can hold, there has never been a single majority in the nearly 40 years of UNI’s existence and, therefore, creation of an absolute majority now is definitely a deviation from the long standing practice."

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