https://www.taxtmi.com/caselaws?id=197303 In rectification proceedings, allegations of fraud, fabrication, and non-compliance with share transfer formalities were not proved where the petitioners had agreed to sell, received consideration, delivered signed blank transfer forms, and the transfer deeds were supported by endorsements, duplicate share certificates, and board approval. The statutory objections to the transfer and duplicate certificate process were rejected on the facts found, so invalidity of the transfer was not established. The articles of association were read as permitting transfer to another member at the fair value fixed by the transferor, and the agreed price was treated as that value. The plea that the arrangement had become infructuous involved disputed facts and contractual questions unsuitable for rectification jurisdiction, so no rectification was warranted. en-us Tue, 16 Jun 1998 00:00:00 +0530 Tue, 02 Jan 2018 11:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197303 In rectification proceedings, allegations of fraud, fabrication, and non-compliance with share transfer formalities were not proved where the petitioners had agreed to sell, received consideration, delivered signed blank transfer forms, and the transfer deeds were supported by endorsements, duplicate share certificates, and board approval. The statutory objections to the transfer and duplicate certificate process were rejected on the facts found, so invalidity of the transfer was not established. The articles of association were read as permitting transfer to another member at the fair value fixed by the transferor, and the agreed price was treated as that value. The plea that the arrangement had become infructuous involved disputed facts and contractual questions unsuitable for rectification jurisdiction, so no rectification was warranted. Case-Laws Companies Law Tue, 16 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197303