https://www.taxtmi.com/caselaws?id=110311 The court held that the provisions of section 108, except sub-section (1), of the Companies Act, 1956, are directory and not mandatory. It upheld the Company Law Board's decision to direct the registration of the remaining pledged shares in the petitioner's name, dismissing the appeals as devoid of merits. The court emphasized the importance of substance over technical formalities and the prevention of perpetuating wrong actions. en-us Thu, 30 Dec 2004 00:00:00 +0530 Mon, 16 Apr 2012 12:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110311 The court held that the provisions of section 108, except sub-section (1), of the Companies Act, 1956, are directory and not mandatory. It upheld the Company Law Board's decision to direct the registration of the remaining pledged shares in the petitioner's name, dismissing the appeals as devoid of merits. The court emphasized the importance of substance over technical formalities and the prevention of perpetuating wrong actions. Case-Laws Companies Law Thu, 30 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110311