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2019 (12) TMI 1357 - Tri - Insolvency and BankruptcyCondonation of delay in filing petition - Registration of transfer of shares - making entries in the Register of members and register of share transferred and thereafter return the share certificates to the Petitioners - HELD THAT:- Reliance placed in the case of AKAL SPRING LIMITED & ORS. VERSUS AMREX MARKETING PRIVATE LIMITED [2019 (11) TMI 1131 - NATIONAL COMPANY LAW] where it was held that It cannot be gain said that ‘Right to refuse’ registration of transfer of shares, ‘Sufficient Cause’ is question of law and the cause shown for refusal is sufficient or otherwise in a given case, can also be a ‘mixed question of law’ and fact. Besides this, a refusal may be on the basis of ‘Breach of Law’ or any other ‘Sufficient Cause’. The application for condonation of delay permitting the parties to argue their respective versions on merits. Let the matter be listed for hearing on the main petition C.P. No. 295/KB/2017 on 23.01.2020.
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