Section 17 in Orissa State Financial Corporation General Regulations, 1957
17. Power to refuse recognition of instrument of transfer.
(1)The Board may decline to recognise any instrument of transfer unless-(a)a sum of rupees two is paid to the Corporation in respect thereof, which sum shall not in any event be refunded;(b)the instrument of transfer is accompanied by the certificate of the shares to which it relates, and(c)the parties furnish such other evidence as the Board may reasonably require in support of the transfer.(2)Upon receipt by the Board of an instrument of transfer with a request to register the transfer the Board shall make such enquiry as it may consider necessary to satisfy itself regarding the right of the transferor to make the transfer and the qualifications of the transferee to be registered as a shareholder.
