https://www.taxtmi.com/caselaws?id=103364 A purchaser of shares may maintain a complaint for non-transfer where she has paid consideration and forwarded the shares for transfer, because a restrictive reading that limits complaints to an already-registered shareholder would defeat the object of the Companies Act. The complaint and supporting statement naming a person as managing director were also sufficient for cognizance and issuance of summons, since the Magistrate could proceed on the prima facie material without a detailed trial at that stage. The challenge under section 482 of the Code therefore failed, and the summoning order remained undisturbed. en-us Fri, 22 Nov 1996 00:00:00 +0530 Wed, 22 Feb 2012 15:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103364 A purchaser of shares may maintain a complaint for non-transfer where she has paid consideration and forwarded the shares for transfer, because a restrictive reading that limits complaints to an already-registered shareholder would defeat the object of the Companies Act. The complaint and supporting statement naming a person as managing director were also sufficient for cognizance and issuance of summons, since the Magistrate could proceed on the prima facie material without a detailed trial at that stage. The challenge under section 482 of the Code therefore failed, and the summoning order remained undisturbed. Case-Laws Companies Law Fri, 22 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103364