Minority shareholders lost right to sue for invalidating resolution while share ownership transfer proceedings were pending.

The Supreme Court dismissed the minority shareholders' attempt to invalidate a company resolution because they had lost their standing to continue the action. The plaintiffs argued that their ownership rights were still intact, but the court found that a concurrent arbitration proceeding had already determined their shares had transferred to the company under Section 21(2) of Chapter 14 of the Companies Act. Consequently, the court ruled that the plaintiffs no longer possessed the necessary legal interest to pursue the invalidation claim.