VASUDEV RAMCHANDRA SHELAT vs PRANLAL JAYANAND THAKAR AND ORS.

The Supreme Court held that the gift of shares by a donor, executed through a registered gift deed and accompanied by signed blank transfer forms, constituted a complete transfer of ownership despite the transfer not being registered before the donor's death. The Court emphasized that the intentions of the donor, coupled with the authority granted by the signed forms, established the donee's right to obtain the shares. The Court clarified that the provisions of the Transfer of Property Act, 1882 (Sections 6, 122, and 123) and the Indian Companies Act, 1913 (Section 28) must be interpreted harmoniously, ensuring that the rights of ownership are not fragmented between corpus and usufruct.