https://www.taxtmi.com/caselaws?id=272470 A company's refusal to register a share transfer was treated as unjustified where the original share certificate was unavailable and the company already knew of that fact, making insistence on the certificate unreasonable and the directors' discretion not bona fide. The transferee's evidence of a genuine transfer for valuable consideration was accepted, supporting entitlement to rectification of the share register. A declaratory suit was held maintainable because the company had denied the transferee's right to be registered as shareholder. The decree in favour of the transferee was therefore upheld and the company was bound to recognise the transfer and rectification. en-us Mon, 15 Jul 1974 00:00:00 +0530 Fri, 04 May 2018 14:21:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272470 A company's refusal to register a share transfer was treated as unjustified where the original share certificate was unavailable and the company already knew of that fact, making insistence on the certificate unreasonable and the directors' discretion not bona fide. The transferee's evidence of a genuine transfer for valuable consideration was accepted, supporting entitlement to rectification of the share register. A declaratory suit was held maintainable because the company had denied the transferee's right to be registered as shareholder. The decree in favour of the transferee was therefore upheld and the company was bound to recognise the transfer and rectification. Case-Laws Companies Law Mon, 15 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272470