https://www.taxtmi.com/caselaws?id=400792 Refusal to register share transfers was found unsustainable where the original share certificates were alleged to be lost and the transferors had executed affidavits and indemnity bonds seeking duplicate certificates. The company relied mainly on non-enclosure of original certificates and on extraneous considerations connected with internal disputes, rather than on a bona fide legal basis. The register of members was treated as only prima facie evidence, and the company's power to refuse transfer under its articles had to be exercised for legitimate reasons. Registration of the share transfers and rectification of the register were therefore upheld. en-us Thu, 12 Nov 2020 00:00:00 +0530 Mon, 04 Jan 2021 14:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400792 Refusal to register share transfers was found unsustainable where the original share certificates were alleged to be lost and the transferors had executed affidavits and indemnity bonds seeking duplicate certificates. The company relied mainly on non-enclosure of original certificates and on extraneous considerations connected with internal disputes, rather than on a bona fide legal basis. The register of members was treated as only prima facie evidence, and the company's power to refuse transfer under its articles had to be exercised for legitimate reasons. Registration of the share transfers and rectification of the register were therefore upheld. Case-Laws Companies Law Thu, 12 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400792