Jagdishchandra Champaklal Parekh vs Deccan Paper Mills Co. Ltd. And Ors. on 31 January, 1991
He also referred to the decision of the Karnataka High Court in M.M. Anandaram v. Mysore Lachia Setty and Sons Pvt. Ltd. [1985] 58 Comp Cas 162 wherein it was observed by the court that (at page 168) "under Sections 108 and 110 of the Companies Act, both the transferor and the transferee could seek the registration of transfer subject to the conditions and restraints imposed in those sections. Therefore, the rights of the transferee of a share did not depend on the conduct of the transferor, who might seek to register the transfer or might not. Once the transferor had signed the instrument of transfer and it was duly stamped, the title in the share or shares passed on to the transferee".