G. Viswanatha Iyer, J,

1. These petitions were heard together and are considered and disposed of by this common order as the question involved in all these cases is the same, namely the legality of the decision of the respondent bank in refusing registration of the transfers of shares of the banking company to the respective petitioners. The reason given for refusal is the same in all the cases. The facts in B.C.P. No. 2/75 are stated hereunder and the facts in the other cases are not mentioned since it will be practically a duplication of the facts in B.C.P. No. 2/75 with only minor changes in the number of shares transferred to the respective petitioners therein. The authorised share capital of the respondent banking company is Rs. 50,00,000 divided into 50,000 equity shares of Rs. 100 each. The issued and subscribed share capital of the company is Rs. 36,47,700 consisting of 36,477 equity shares of Rs. 100 each on which Rs. 50 per share has been called up. The 2nd respondent held 210 equity shares in the company. The petitioner purchased the said shares on 22nd January 1975 for a consideration of Rs. 10,000 and forwarded the share transfer deed duly executed by the transf