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of <h1>Section 58 of Companies Act 2013: Appeal Rights for Refusal of Securities Transfer by Private Companies Explained.</h1> Section 58 of the Companies Act, 2013 addresses the refusal of registration of securities transfer by a private company limited by shares. If such a company refuses to register a transfer or transmission, it must notify the concerned parties within thirty days, providing reasons. Securities in a public company are freely transferable, but contractual agreements on transfers are enforceable. A transferee can appeal to the Tribunal against refusal within specified periods. The Tribunal can order the company to register the transfer or rectify the register and may impose penalties for non-compliance, including imprisonment and fines.
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