Supreme Court Upholds Company Law Board Order Directing Registration of Shares Under Companies Act, 1956 — Directors' Refusal to Transfer Shares Found Arbitrary and Mala Fide. Fiduciary Duty of Directors to Act Bona Fide in General Interest of Company Prevents Refusal Based on Collateral Motive to Maintain Control, Under Sections 111(3) and 111(5A) of Companies Act, 1956....
The Supreme Court of India dismissed appeals by special leave against an order of the Company Law Board directing the appellant company to register transfer of 3643 shares under Section 111(3) of the ...
