https://www.taxtmi.com/caselaws?id=101193 In proceedings under sections 397 and 398 of the Companies Act, 1956, locus standi depends on the petitioner's continuing membership of the company. The Court accepted evidence of a signed share transfer form, resignation letter, board approval, and corresponding entries in the register of members and annual return, treating those statutory records as prima facie proof of transfer. As no rectification application was filed and the petitioner could not satisfactorily rebut the documents or explain the signatures, the transfer was held valid and the petitioner was found to have ceased to be a shareholder. The petition therefore failed at the threshold for want of locus standi. en-us Fri, 01 Mar 1985 00:00:00 +0530 Wed, 08 Feb 2012 18:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101193 In proceedings under sections 397 and 398 of the Companies Act, 1956, locus standi depends on the petitioner's continuing membership of the company. The Court accepted evidence of a signed share transfer form, resignation letter, board approval, and corresponding entries in the register of members and annual return, treating those statutory records as prima facie proof of transfer. As no rectification application was filed and the petitioner could not satisfactorily rebut the documents or explain the signatures, the transfer was held valid and the petitioner was found to have ceased to be a shareholder. The petition therefore failed at the threshold for want of locus standi. Case-Laws Companies Law Fri, 01 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101193