. Miss N.J., a minor, applied for registration in her naml’

Problem 1. Miss N.J., a minor, applied for registration in her naml’ of 10,000 fully paid-up equity shares in the company through her rathel’ and natural

guardian Sh. A.KJ., The appellant had bought these shares from one

Shri “M.KJ. The transfel”Or Shl’i. M.KJ. and the trnnsferee, the minor Miss”

N.J. through her father and natural guardian Sh. A.KJ. executed the necessary tmnsfer deed which was presented to the company for regish’ation of the

transfer of shares. Can the Board of Dh-ectors refuse to register the transfer of shares on the plea that the transferee is a minor?

Solution. No. The Company Law Board in its decision in Nandita Jaill Vs. Benllet Coleman alld Co. Ltd. has observed that registration of a transfer of

shares in the name of a minor, acting through hisher guardian especially where the shares are fully paid-up cannot be refused on the ground of the

transferee being a minor.