Supreme Court of India
Luxmi Tea Company Limited v. Pradip Kumar Sarkar
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In the result, we find no substance in this appeal and it is accord ingly dismissed with costs assessed at Rs.2,.
Judgment, page 11
From the headnote
Companies Act, 1956: Section 108---Share Transfer-Considera tion-Power of Company to examine correctness-Company-Whe ther can refuse registration of transfer of shares if transfer deeds are not properly stamped. Section 111(2)/Article 42 of Articles of Association-Expression "Or otherwise"-Scope of-Whether recognises existence of inherem power to refuse registration of shares. Company Law-Share Transfer-Board of Directors-Whether has inherent power to refuse registration of transfer of shares-Resi duary, implied or incidental power of corporate existence-Whether include power of refusal to
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