No Cause For Such Refusal

No cause for such refusal, the expression 'no cause for such refusal' within the meaning of clause (4) must mean no good cause for refusal. Therefore when an application is filed by a shareholder for an order directing the company to grant conversion of partly paid-up shares into fully paid-up shares and the company sets up some cause declining to carry out the conversion the Tribunal is authorised to adjudicate whether the cause set up by the company is a cause reasonably justifying refusal to comply with the requisition, Oriental Bank of Commerce v. Harcharn Das Loomba, AIR 1963 SC 1707 (1709): (1964) 2 SCR 231. [Displaced Persons Debts Adjustment Act, 1951, s. 19(4)]