Supreme Court Upholds Respondent State in Company Law Dispute Over Rectification of Share Register Under Section 38 of Indian Companies Act, 1913. Directors' refusal to register transmission of shares by operation of law was unlawful as articles only permitted refusal of transfers and discretion was exercised in bad faith....
The dispute concerned the refusal of Indian Chemical Products Ltd., a private limited company incorporated on November 29, 1947, to register the State of Orissa as holder of 7,500 shares that had devo...




