Companies Act — Section 21

The Board may decline to recognise any instrument of transfer unless—

21. The Board may decline to recognise any instrument of transfer unless—

(a) the instrument of transfer is in the form as prescribed in rules made under sub-section (1) of section 56;

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(b) the instrument of transfer is accompanied by the certificate of the shares to which it relates, and such other

evidence as the Board may reasonably require to show the right of the transferor to make the transfer; and

(c) the instrument of transfer is in respect of only one class of shares.

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Judgments citing Section 21

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