https://www.taxtmi.com/caselaws?id=103342 The court dismissed the appeal, upholding BPCL's refusal to register the transfer of shares from one appellant to another. It affirmed that Section 153 of the Companies Act, 1956 prohibits taking notice of trusts for registration purposes, and this provision was not diluted by Section 187C. The court clarified that SEBI regulations do not supersede the Companies Act, emphasizing that trusts cannot hold shares in their own name. The decision highlighted that shares must be held in the name of trustees without indicating they are trustees, ultimately affirming BPCL's decision and dismissing the appeal with costs. en-us Thu, 03 Oct 1996 00:00:00 +0530 Wed, 22 Feb 2012 14:31:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103342 The court dismissed the appeal, upholding BPCL's refusal to register the transfer of shares from one appellant to another. It affirmed that Section 153 of the Companies Act, 1956 prohibits taking notice of trusts for registration purposes, and this provision was not diluted by Section 187C. The court clarified that SEBI regulations do not supersede the Companies Act, emphasizing that trusts cannot hold shares in their own name. The decision highlighted that shares must be held in the name of trustees without indicating they are trustees, ultimately affirming BPCL's decision and dismissing the appeal with costs. Case-Laws Companies Law Thu, 03 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103342