Company officials said: ``The UB group is yet to lodge these shares for transfer. As of now, we do not know when and from whom these shares were purchased, or who are presently holding them.''

The official stand is: ``It is eventually the boards decision to allow or disallow transfer of these shares. The board will take a formal view when the shares are lodged for transfer.''

As per the Companies Act, the Shaw Wallace board reserves the right to block share transfer if it view the purchase by any UB group company, or other companies acting in concert, as hostile.

The UB group, which has bid Rs 250 crore for three Shaw Wallace brands, has said it has purchased around 10,000 shares of Shaw Wallace to strengthen its bid.

The shares amount to aroundhalf a per cent of the company's equity, while single largest shareholder and chairman Manu Chhabria holds over 39 per cent.

The Vijay Mallya-controlled UB group has offered to buy Royal Challenge, a leader in the premium IMFL segment, Director's Special, the highest selling brand in the low-end whiskey category, and Haywards, one of the leading national beer brands.

Shaw Wallace is currently grappling with a Rs 300 crore outstanding debt liability, and its last repayment plan to creditors have been turned down by the Calcutta High Court. It now has to submit a fresh repayment plan.

The UB group, in what is being viewed as a move to finish off its arch rival for good, has come in with an offer submitted with the high court to buy three brands for Rs 250 crore which could go towards repaying all creditors.

Shaw Wallace, in its defence, has the difficult task of convincing the court that it will be able to repay its creditors on its own. While it plans to sell all its existing non-core businesses, it isalso looking at selling fixed assets to raise funds.