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1949 (12) TMI 27 - HIGH COURT OF MADRASExtract: .......g with cases like Re Smith and Fawcelt Limited 1942 1 All E.R. 542, in which the material article was in the following wide terms, namely mdash The directors may at any time in their absolute and uncontrolled discretion refuse to register any transfer of shares. In the result the appeal fails and is dismissed with costs of the plaintiff-respondent.
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