https://www.taxtmi.com/caselaws?id=100979 The court held in favor of the petitioners, directing the respondent company to recognize the transfer of 40 shares made in 1968. The rejection of the transfer by the Board of Directors was deemed unjustified and mala fide. The pending litigation involving the transferor's estate did not prevent the registration of the transfer. The court emphasized its jurisdiction under Section 155 of the Companies Act to rectify the register of members. Madhava Murthy's application to join the proceedings was rejected as he was not a necessary party. The respondent company was ordered to register the transfer within 30 days, with no exemplary costs awarded. en-us Tue, 30 Oct 1984 00:00:00 +0530 Wed, 08 Feb 2012 11:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100979 The court held in favor of the petitioners, directing the respondent company to recognize the transfer of 40 shares made in 1968. The rejection of the transfer by the Board of Directors was deemed unjustified and mala fide. The pending litigation involving the transferor's estate did not prevent the registration of the transfer. The court emphasized its jurisdiction under Section 155 of the Companies Act to rectify the register of members. Madhava Murthy's application to join the proceedings was rejected as he was not a necessary party. The respondent company was ordered to register the transfer within 30 days, with no exemplary costs awarded. Case-Laws Companies Law Tue, 30 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100979