https://www.taxtmi.com/caselaws?id=761569 The Bombay HC held that NSE constitutes 'State' under Article 12 and is amenable to writ jurisdiction. The court quashed NSE's stop transfer direction dated 4 October 2007, finding NSE failed to demonstrate authority for issuing such communication. The petitioner sought duplicate share certificates for shares still recorded in their name, with dividends issued but not credited due to NSE's objections. The court ruled the impugned communication was neither an 'order' nor 'decision' under Section 23L(1), making appeal provisions inapplicable. NSE's contention that shares constituted defaulting member's assets was rejected as share transfer forms demonstrated otherwise. The petition was allowed. en-us Mon, 11 Nov 2024 00:00:00 +0530 Tue, 12 Nov 2024 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761569 The Bombay HC held that NSE constitutes 'State' under Article 12 and is amenable to writ jurisdiction. The court quashed NSE's stop transfer direction dated 4 October 2007, finding NSE failed to demonstrate authority for issuing such communication. The petitioner sought duplicate share certificates for shares still recorded in their name, with dividends issued but not credited due to NSE's objections. The court ruled the impugned communication was neither an 'order' nor 'decision' under Section 23L(1), making appeal provisions inapplicable. NSE's contention that shares constituted defaulting member's assets was rejected as share transfer forms demonstrated otherwise. The petition was allowed. Case-Laws Companies Law Mon, 11 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761569