https://www.taxtmi.com/highlights?id=83057 This case pertains to the transfer of shares and the issuance of a duplicate share certificate. The key points are: The National Stock Exchange (NSE) issued a "stop transfer" direction to the transfer agent, citing default by a trading member in making payments. The petitioner challenged this direction, arguing that the shares did not constitute assets of the defaulting member. The court held that the NSE, being a stock exchange, is covered under the definition of 'State' and amenable to writ jurisdiction. The impugned communication was neither an order nor a decision under the Securities Contracts (Regulation) Act (SCRA), and the NSE failed to show authority for issuing such a direction. The court quashed the impugned communication and con..... en-us Wed, 13 Nov 2024 08:53:37 +0530 Wed, 13 Nov 2024 08:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83057 This case pertains to the transfer of shares and the issuance of a duplicate share certificate. The key points are: The National Stock Exchange (NSE) issued a "stop transfer" direction to the transfer agent, citing default by a trading member in making payments. The petitioner challenged this direction, arguing that the shares did not constitute assets of the defaulting member. The court held that the NSE, being a stock exchange, is covered under the definition of 'State' and amenable to writ jurisdiction. The impugned communication was neither an order nor a decision under the Securities Contracts (Regulation) Act (SCRA), and the NSE failed to show authority for issuing such a direction. The court quashed the impugned communication and con..... Highlights Companies Law Wed, 13 Nov 2024 08:53:37 +0530 https://www.taxtmi.com/highlights?id=83057