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1994 (9) TMI 367 - Board - Companies LawExtract: .......tion 153 is still on the statute book and because of its mandatory nature, we have no option but to confirm the decision taken by the board of directors to refuse registration of the impugned shares and accordingly, we confirm the said act of the company. 16. The references are accordingly answered, and thus stand disposed of. No order as to costs.
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