Section 31, The Companies (Amendment) Act, 2014

Section 126 of the Companies Act, 2009 is amended infollowing new sub-section– “(1) Notwithstanding anything in the articles of a company, it shall not be lawful for the company to register a transfer of shares in or debentures of the company, unless as in the case of transfer of shares the approval of which has been sought from and granted by the Commission and a proper instrument of transfer has been delivered to the company or the individual: but nothing in this section shall prejudice any power of the company to register as shareholder, any person to whom the right to any shares in the company has been transmitted by operation of law.” Registration of charges with Commission