https://www.taxtmi.com/caselaws?id=101716 Under section 155 of the Companies Act, 1956, the company court cannot compel disclosure of reasons for refusing registration of a share transfer because section 111(5A) gave that power expressly to the Central Government on appeal, and no similar authority was conferred on the court. Where the articles of association give the board absolute discretion to refuse registration without assigning reasons, judicial interference is justified only on positive proof of mala fide, arbitrariness, caprice, oppression or action contrary to the company's interests. Mere allegations, or selective acceptance of other transfers, are insufficient to establish abuse of power. en-us Fri, 10 Apr 1987 00:00:00 +0530 Fri, 10 Feb 2012 17:48:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101716 Under section 155 of the Companies Act, 1956, the company court cannot compel disclosure of reasons for refusing registration of a share transfer because section 111(5A) gave that power expressly to the Central Government on appeal, and no similar authority was conferred on the court. Where the articles of association give the board absolute discretion to refuse registration without assigning reasons, judicial interference is justified only on positive proof of mala fide, arbitrariness, caprice, oppression or action contrary to the company's interests. Mere allegations, or selective acceptance of other transfers, are insufficient to establish abuse of power. Case-Laws Companies Law Fri, 10 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101716