Nadarajah V. H. Don Carolis & Sons, Ltd.,

1936 Present : Akbar and Koch JJ.

NADARAJAH v. H. DON CAROLIS & SONS, LTD.

156-D. C. (Inty.) Colombo.

Joint stock company-Application to register shares-Shares sold in execution of mortgage decree-Right of Directors to register sale-Appeal- Security for costs.

Where the articles of association of a joint stock company gave a discretion to the directors to refuse to register a transfer of shares by a shareholder, who is indebted to the company,-

Held, that the directors were not entitled to refuse to register a transfer consequent on a forced sale of the shares.

Qucere, whether in appeal governed by section 110 of the Joint Stock Companies' Ordinance the appellant is bound to give security for respondents' costs ?

Where the appellant has given security in cash but has failed to give notice of security to the respondent the Supreme Court may grant relief under section 2 of Ordinance No. 42 of 1921.

APPEAL from an order of the District Judge of Colombo.

N. K. Choksy (with him D. W. Fernando), for respondent, appellant.

H. V. Perera, for petitioner, respondent.

Cur. adv. vult.

June 15, 1936. AKBAR J.-

This is an ap

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