https://www.taxtmi.com/caselaws?id=278411 The appellant, Bank of Maharashtra, was found not prohibited under the Banking Regulation Act to hold 50 shares in the respondent-Sangli Bank, constituting less than 0.26% of the share capital. The board determined that the rejection of the transfer based on grounds from 1982 was unjustified for the 50 shares lodged in 1987. The respondent-Sangli Bank was directed to register the transfer within ten days, with no costs awarded. en-us Tue, 20 Aug 1991 00:00:00 +0530 Thu, 31 Jan 2019 17:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278411 The appellant, Bank of Maharashtra, was found not prohibited under the Banking Regulation Act to hold 50 shares in the respondent-Sangli Bank, constituting less than 0.26% of the share capital. The board determined that the rejection of the transfer based on grounds from 1982 was unjustified for the 50 shares lodged in 1987. The respondent-Sangli Bank was directed to register the transfer within ten days, with no costs awarded. Case-Laws Companies Law Tue, 20 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278411