K’taka HC stays transfer of 2.51 cr shares of TD Power System Ltd
The High Court of Karnataka has restrained the chairman of TD Power System Ltd (TDPSL) and several others from transferring shares worth Rs 555 crore of the company.
The court passed the interim order on a petition by Vijay Ravindra Kirloskar, the chairman of city-based Kirloskar Electric Company (KEC) who founded TDPSL in 1999. Kirloskar along with the several KEC Welfare Trusts had moved the high court seeking a direction to several persons who hold 2.51 crore shares worth Rs 555 crore in the company, not to transfer or sell them in the stock market.
