Action by Members Obligation of company to intimate
Where Refusal To Register Is Due To Technical Defects
In cases of technical defects, like improperly stamped, not duly executed etc, the Board of Director, have to intimate the transferee, within two months from the date of lodging the transfer deed in the prescribed form about the requirements of law which has to be completed or complied with for securing registration.
Where the transfer deed is time-banned, say it has not been delivered to the company within a period of 12 months from the date of endorsement by the prescribed authority, the instrument of transfer is to be revalidated.
For revalidating the instrument on application is to be made in form no. 7 C to the Registrar of Companies, along with instrument of transfer, and prescribed fees.