Amrit Goyal v Hari Chand Goyal & 3 Ors
Amrit Goyal v Hari Chand Goyal & 3 Ors (Miscellaneous Application 649 of 2001) [2003] UGCommC 133 (25 September 2003)
The Court found that the Memorandum of Family Arrangement (MOFA) was validly executed by all parties and governed by Indian/Hindu law. Expert evidence established that such family arrangements do not require coparcenary status, registration, or stamp duty under Indian law, and that beneficial ownership of shares can pass in equity prior to formal transfer. The MOFA was acted upon by all parties, satisfying the enforceability criteria. Ugandan courts have jurisdiction to apply foreign law where chosen by the parties, and the Companies Act and liberalisation policies override any restrictions i…
Source excerpt
- Share Register Rectification
- Beneficial Ownership
- Family Arrangement
- Proper Law Of Contract
- Enforceability Of Foreign Contracts
- Company Shares Transfer