Mackintosh Burn Ltd. vs Sarkar And Chowdhury Enterprises Pvt ...

The Supreme Court upheld the Company Law Board's order directing the registration of shares purchased by the respondent, rejecting the appellant's claims that the transfer would violate the SEBI Act and the Substantial Acquisition of Shares and Takeover Regulations. The Court emphasized that the shares in question were not listed and that the acquisition would not alter the control of the respondent company. The Court held that the refusal to register the shares was unjustified and ordered compliance with the registration directive.