https://www.taxtmi.com/caselaws?id=365560 Section 111A of the Companies Act, 1956 preserves free transferability of shares, and refusal to register transfer is sustainable only on bona fide, legally supportable sufficient cause. The company's reliance on a disputed pledge, pending civil proceedings, liquidation issues and an objection under the Multi State Cooperative Societies Act did not by itself justify denial where the transfer deeds and share certificates were duly presented and no illegality in the transfer documents was shown. A company also has no legal basis to retain the original share certificates after refusing transfer and returning only the transfer deeds. The transfer was directed to be registered on resubmission of duly acknowledged deeds. en-us Wed, 25 Jul 2018 00:00:00 +0530 Mon, 20 Aug 2018 07:53:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365560 Section 111A of the Companies Act, 1956 preserves free transferability of shares, and refusal to register transfer is sustainable only on bona fide, legally supportable sufficient cause. The company's reliance on a disputed pledge, pending civil proceedings, liquidation issues and an objection under the Multi State Cooperative Societies Act did not by itself justify denial where the transfer deeds and share certificates were duly presented and no illegality in the transfer documents was shown. A company also has no legal basis to retain the original share certificates after refusing transfer and returning only the transfer deeds. The transfer was directed to be registered on resubmission of duly acknowledged deeds. Case-Laws Companies Law Wed, 25 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365560