https://www.taxtmi.com/caselaws?id=103722 Directors of a listed public company may refuse registration of share transfers only by exercising their discretion bona fide, for proper reasons, and in the interests of the company as a whole. The refusal must rest on actual facts existing when the decision is made; speculative concerns about future acquisitions, possible statutory-threshold crossings, capital appreciation, or unsupported allegations of an ulterior purpose are insufficient. Board resolutions refusing registration without evidence that purchasers are undesirable or that the transfer would destabilise management are invalid, and the transfers must be registered. en-us Wed, 22 Jul 1998 00:00:00 +0530 Sat, 18 Aug 2018 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103722 Directors of a listed public company may refuse registration of share transfers only by exercising their discretion bona fide, for proper reasons, and in the interests of the company as a whole. The refusal must rest on actual facts existing when the decision is made; speculative concerns about future acquisitions, possible statutory-threshold crossings, capital appreciation, or unsupported allegations of an ulterior purpose are insufficient. Board resolutions refusing registration without evidence that purchasers are undesirable or that the transfer would destabilise management are invalid, and the transfers must be registered. Case-Laws Companies Law Wed, 22 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103722