https://www.taxtmi.com/caselaws?id=97495 Directors holding absolute discretion under the articles of association may refuse registration of a share transfer, provided they act bona fide in the company's interests; courts will not reassess that discretion without proof of fraud, dishonesty, bad faith, or an improper purpose. Evidence concerning an unused draft letter, prior transactions and alleged director influence did not establish mala fides, so the challenge failed. A share transfer instrument must also be duly stamped and executed before registration. An unstamped deed cannot be registered, and subsequent payment arrangements do not cure that statutory defect. Injunctive relief requires pleadings establishing actual or threatened invasion of legal rights; without them, no injunction is available. en-us Wed, 05 Dec 1956 00:00:00 +0530 Tue, 17 Jan 2012 10:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97495 Directors holding absolute discretion under the articles of association may refuse registration of a share transfer, provided they act bona fide in the company's interests; courts will not reassess that discretion without proof of fraud, dishonesty, bad faith, or an improper purpose. Evidence concerning an unused draft letter, prior transactions and alleged director influence did not establish mala fides, so the challenge failed. A share transfer instrument must also be duly stamped and executed before registration. An unstamped deed cannot be registered, and subsequent payment arrangements do not cure that statutory defect. Injunctive relief requires pleadings establishing actual or threatened invasion of legal rights; without them, no injunction is available. Case-Laws Companies Law Wed, 05 Dec 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97495