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Company Shares. In the course of proceedings between the parties, a preliminary issue arose for consideration namely, whether an alleged transfer a single issue share in the first claimant company (HCL) from the second claimant to the first defendant had been valid and-or effective so as to transfer the legal title and-or beneficial interest in the said share of HCL to the first defendant and who was the legal and-or beneficial owner of that share. The Chancery Division held that, on the facts, the transfer had been effective to the extent that the share remained in the legal ownership of the second claimant, who held the legal interest in the share for the first defendant beneficially.
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