https://www.taxtmi.com/caselaws?id=200390 Refusal to register share transfers was found unjustified where objections based on alleged lack of internal investment authorisation and minor transfer-deed defects were treated as insubstantial, and prima facie board resolutions satisfied the statutory requirement. Defects such as stamping, occupation details, and witness particulars were not material, though refusal was sustained for 2,400 shares on technical grounds of missing witness signature and late lodgment. Returning share certificates to transferors while retaining the transfer instruments was held improper and contrary to commercial practice. Where refusal rested on alleged contravention beyond mere registration formalities, a statutory reference to the Company Law Board was required before refusal. en-us Tue, 21 May 1991 00:00:00 +0530 Tue, 27 Mar 2018 15:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200390 Refusal to register share transfers was found unjustified where objections based on alleged lack of internal investment authorisation and minor transfer-deed defects were treated as insubstantial, and prima facie board resolutions satisfied the statutory requirement. Defects such as stamping, occupation details, and witness particulars were not material, though refusal was sustained for 2,400 shares on technical grounds of missing witness signature and late lodgment. Returning share certificates to transferors while retaining the transfer instruments was held improper and contrary to commercial practice. Where refusal rested on alleged contravention beyond mere registration formalities, a statutory reference to the Company Law Board was required before refusal. Case-Laws Companies Law Tue, 21 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200390