Supreme Court · 2018 INSC 269 · Decided 27 March 2018
Mackintosh Burn Limited v. Sarkar and Chowdhury Enterprises Private Limited
- Court
- Supreme Court of India
- Citation
- 2018 INSC 269 · [2018] 3 S.C.R. 83
- Case number
- CIVIL APPEAL No. 3322/2018
- Decided
- 27 March 2018
- Bench
- KURIAN JOSEPH, MOHAN M. SHANTANAGOUDAR (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 58, 10F, 5
Headnote
Companies Act, 2013: s. 58 - Refusal of registration and appeal against refusal - Held: Under s. 58(2), the securities or interest of any member in a public company are freely transferable - However, u/s.58(4), it is open to the public company to refuse registration of securities for a sufficient cause - To that extent, s. 58 (4) has to be read as a limited restriction on the free transfer permitted u/s. 58(2) - Right to refuse registration of transfer on sufficient cause is a question of law and whether the cause shown for refusal is sufficient or
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