https://www.taxtmi.com/caselaws?id=96685 Where a purchaser applied for share transfer but was not entered on the company register on the bonus record date, the court found no legal principle obliging the company to pay the bonus to an unregistered transferee; slight administrative delay in sanctioning transfers was not held to create liability in damages. The court considered authorities on delay and rectification of the register under Section 38 but identified no authority converting procedural delay into a substantive right to bonus or a basis for damages. The petitioner's claims for the bonus and for damages were therefore rejected, and the Small Cause Court's finding that payments to registered members were proper was left undisturbed. en-us Mon, 08 Jul 1935 00:00:00 +0530 Tue, 10 Jan 2012 12:57:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96685 Where a purchaser applied for share transfer but was not entered on the company register on the bonus record date, the court found no legal principle obliging the company to pay the bonus to an unregistered transferee; slight administrative delay in sanctioning transfers was not held to create liability in damages. The court considered authorities on delay and rectification of the register under Section 38 but identified no authority converting procedural delay into a substantive right to bonus or a basis for damages. The petitioner's claims for the bonus and for damages were therefore rejected, and the Small Cause Court's finding that payments to registered members were proper was left undisturbed. Case-Laws Companies Law Mon, 08 Jul 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96685