https://www.taxtmi.com/caselaws?id=97716 Rectification of the register of members was held maintainable under the summary remedy where the dispute was sufficiently simple for determination. The alleged transfer of 780 shares was found invalid because no reliable proof of consideration or genuine transfer was produced, and the evidence indicated a colourable, benami and fraudulent transaction. Later transferees also failed to prove that they were bona fide purchasers for value, as the relevant documents and credible testimony were lacking. The register was therefore ordered to be rectified by removing the impugned transferees and restoring the petitioner-company's name, with consequential refund of dividends received on the shares. en-us Tue, 25 Aug 1959 00:00:00 +0530 Tue, 17 Jan 2012 17:36:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97716 Rectification of the register of members was held maintainable under the summary remedy where the dispute was sufficiently simple for determination. The alleged transfer of 780 shares was found invalid because no reliable proof of consideration or genuine transfer was produced, and the evidence indicated a colourable, benami and fraudulent transaction. Later transferees also failed to prove that they were bona fide purchasers for value, as the relevant documents and credible testimony were lacking. The register was therefore ordered to be rectified by removing the impugned transferees and restoring the petitioner-company's name, with consequential refund of dividends received on the shares. Case-Laws Companies Law Tue, 25 Aug 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97716