https://www.taxtmi.com/caselaws?id=102446 Board authority to refuse registration or transmission of shares was not treated as extinguished merely because two months had elapsed, since no deeming consequence was identified and delay could instead bear on the assessment of good faith. Articles permitting directors to decline transfers or transmissions, together with the statutory refusal-and-appeal framework, supported that authority. An amendment to the articles operative when transmission was sought was treated as valid absent irregularity or lack of bona fides. Directors' discretion remained subject to the requirement to act honestly, commercially and in the company's interests; a refusal supported by proper commercial reasons was not regarded as arbitrary, wrongful or mala fide. en-us Tue, 15 Feb 1994 00:00:00 +0530 Sat, 18 Aug 2018 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102446 Board authority to refuse registration or transmission of shares was not treated as extinguished merely because two months had elapsed, since no deeming consequence was identified and delay could instead bear on the assessment of good faith. Articles permitting directors to decline transfers or transmissions, together with the statutory refusal-and-appeal framework, supported that authority. An amendment to the articles operative when transmission was sought was treated as valid absent irregularity or lack of bona fides. Directors' discretion remained subject to the requirement to act honestly, commercially and in the company's interests; a refusal supported by proper commercial reasons was not regarded as arbitrary, wrongful or mala fide. Case-Laws Companies Law Tue, 15 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102446