https://www.taxtmi.com/caselaws?id=194380 Section 113 of the Companies Act, 1956 required a company, after transfer of shares, to deliver share certificates duly transferred in favour of the transferee. The provision did not impose any further duty to issue or re-issue the certificates in marketable lots, and the penal consequence under Section 113(2) had to be strictly construed. On that reading, no additional obligation could be implied beyond the express wording of Section 113(1). The prosecution was therefore unsustainable, and the summoning order was liable to be quashed insofar as it concerned the petitioner. en-us Thu, 10 Jan 2008 00:00:00 +0530 Wed, 06 Sep 2017 13:23:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194380 Section 113 of the Companies Act, 1956 required a company, after transfer of shares, to deliver share certificates duly transferred in favour of the transferee. The provision did not impose any further duty to issue or re-issue the certificates in marketable lots, and the penal consequence under Section 113(2) had to be strictly construed. On that reading, no additional obligation could be implied beyond the express wording of Section 113(1). The prosecution was therefore unsustainable, and the summoning order was liable to be quashed insofar as it concerned the petitioner. Case-Laws Indian Laws Thu, 10 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194380