https://www.taxtmi.com/caselaws?id=279273 Section 38 confers a broad discretionary power to order rectification of the Register of Members; that discretion extends to questions affecting persons with a direct and substantial interest. A mortgagee holding a specific charge on shares has a proprietary interest in the register as a guarantee to creditors and therefore is entitled to intervene and be heard before any rectification affecting those charged shares. Where the respondent obtained transfer and decree but the appellant held a prior specific charge, the court concluded the respondent's removal application should not succeed without hearing the mortgagee, and the application was dismissed. en-us Wed, 17 Mar 1920 00:00:00 +0530 Mon, 11 Mar 2019 12:06:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279273 Section 38 confers a broad discretionary power to order rectification of the Register of Members; that discretion extends to questions affecting persons with a direct and substantial interest. A mortgagee holding a specific charge on shares has a proprietary interest in the register as a guarantee to creditors and therefore is entitled to intervene and be heard before any rectification affecting those charged shares. Where the respondent obtained transfer and decree but the appellant held a prior specific charge, the court concluded the respondent's removal application should not succeed without hearing the mortgagee, and the application was dismissed. Case-Laws Indian Laws Wed, 17 Mar 1920 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279273