M/S. HARINAGAR SUGAR MILLS LTD. vs SHYAM SUNDAR JHUNJHUNWALA AND OTHERS

The Supreme Court held that the Central Government, when exercising powers under Section 111(3) of the Companies Act, 1956, acts as a tribunal and is required to act judicially, thus allowing an appeal under Article 136 of the Constitution. The Court clarified that the decision must be based on objective tests rather than subjective satisfaction, ensuring that the rights of parties in disputes over share transfers are determined according to law. The appeal against the Central Government's decision to register share transfers was deemed competent, affirming the necessity for judicial reasoning in such administrative decisions.