https://www.taxtmi.com/caselaws?id=104987 Shares of a listed public company are freely transferable, and a transferee is entitled to registration and rectification of the register when the transfer is otherwise in order. Refusal is lawful only on bona fide grounds authorised by law; arbitrary, collateral, or undeclared reasons cannot sustain it. The company's reliance on section 292 of the Companies Act, 1956 was rejected because that provision concerns board powers and does not govern share transfer, and no valid ground under section 22A(3) of the Securities Contracts (Regulation) Act, 1956 was shown. The transferee was also entitled to dividends accrued from the date of purchase as a consequential benefit, and the company could not appropriate them towards alleged third-party dues. en-us Thu, 14 Oct 1999 00:00:00 +0530 Fri, 02 Mar 2012 10:30:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104987 Shares of a listed public company are freely transferable, and a transferee is entitled to registration and rectification of the register when the transfer is otherwise in order. Refusal is lawful only on bona fide grounds authorised by law; arbitrary, collateral, or undeclared reasons cannot sustain it. The company's reliance on section 292 of the Companies Act, 1956 was rejected because that provision concerns board powers and does not govern share transfer, and no valid ground under section 22A(3) of the Securities Contracts (Regulation) Act, 1956 was shown. The transferee was also entitled to dividends accrued from the date of purchase as a consequential benefit, and the company could not appropriate them towards alleged third-party dues. Case-Laws Companies Law Thu, 14 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104987