https://www.taxtmi.com/caselaws?id=278412 The Company Law Board ruled in favor of the petitioner, a company seeking the transfer of 5,100 equity shares, against the respondent company's refusal. The Board held that the reasons provided for rejection, including alleged ulterior motives and business rivalry, did not constitute sufficient cause under Section 111A of the Companies Act, 1956. Emphasizing the importance of free transferability of shares, the Board directed the respondent to register the shares in favor of the petitioner within a specified timeframe, without awarding costs to either party. en-us Thu, 13 Sep 2001 00:00:00 +0530 Thu, 31 Jan 2019 17:57:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278412 The Company Law Board ruled in favor of the petitioner, a company seeking the transfer of 5,100 equity shares, against the respondent company's refusal. The Board held that the reasons provided for rejection, including alleged ulterior motives and business rivalry, did not constitute sufficient cause under Section 111A of the Companies Act, 1956. Emphasizing the importance of free transferability of shares, the Board directed the respondent to register the shares in favor of the petitioner within a specified timeframe, without awarding costs to either party. Case-Laws Companies Law Thu, 13 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278412