Power to refuse registration of transfer of shares in the Company to outsiders - We find the reason...

Power to refuse registration of transfer of shares in the Company to outsiders - We find the reason recorded by the Company to refuse to record transfers is based on reasonable apprehensions recorded in the letters sent to Petitioner. We do not wish to impose our wisdom on that of the Board of Directors which cannot be said to be arbitrary on lacking in bona fides .....

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