M/S. DOVE INVESTMENTS PVT.LTD. vs M/S. GUJARAT INDUSTRIAL INV.CORPN.

The Supreme Court held that Section 108 of the Companies Act, 1956 mandates timely registration of share transfers, and failure to comply can be deemed mala fide. The Court affirmed the Company Law Board's order directing the Appellant to register the transfer of 22,93,000 shares to Respondent No.1 within 30 days, rejecting the Appellant's argument regarding the mandatory nature of the time frame. The appeals by both parties were dismissed, upholding the lower court's decision.