https://www.taxtmi.com/caselaws?id=102476 Listed securities already registered and acted upon cannot ordinarily be reversed through rectification proceedings after delay, because section 22A of the Securities Contracts (Regulation) Act, 1956 operates as the governing scheme for refusal of registration, notice, and reference. The Court treated the provision as a special code preserving free transferability while allowing only limited grounds to refuse registration, and held that belated attempts to undo completed transfers without compliance with that framework were not maintainable. The company was also not entitled to delete the transferees' names on the basis of alleged defects in the transfer instruments, since the transfers had been recognised and acted upon. Equitable rectification was refused because laches, acquiescence, and prejudice to settled rights weighed against relief. en-us Thu, 07 Apr 1994 00:00:00 +0530 Wed, 15 Feb 2012 10:50:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102476 Listed securities already registered and acted upon cannot ordinarily be reversed through rectification proceedings after delay, because section 22A of the Securities Contracts (Regulation) Act, 1956 operates as the governing scheme for refusal of registration, notice, and reference. The Court treated the provision as a special code preserving free transferability while allowing only limited grounds to refuse registration, and held that belated attempts to undo completed transfers without compliance with that framework were not maintainable. The company was also not entitled to delete the transferees' names on the basis of alleged defects in the transfer instruments, since the transfers had been recognised and acted upon. Equitable rectification was refused because laches, acquiescence, and prejudice to settled rights weighed against relief. Case-Laws Companies Law Thu, 07 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102476