What are the rights of the aggrieved party against refusal to transfer the shares?


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Rights of the aggrieved party against refusal to transfer the shares:

  1. Right to make an appeal to the company law board: The transferor or the transferee has the right to make an appeal to the Company Law Board against any refusal by the company to register the transfer or against any failure on its part within two months of the receipt of the notice of such refusal. Or where no notice has been sent by the company, within four months from the date on which the instrument of transfer was delivered to the company.
  2. Right to apply to the Company Law Board for rectification of the register: The person aggrieved or any member of the company may apply to the CLB for rectification of the register if the name in register of member without any sufficient cause or default is made or unnecessary delay take place in entering in the register the fact of any person having become or erased to be a member.

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