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Upholding the ‘right of refusal’ April 04, 2021 A general understanding of the ‘Right of first refusal’ and the power of the Board to refuse registration of transfer could be gained from the decision of the Company Law Board in Satyanarayana Rathi Vs Annamalayar Textiles (P) Ltd, (1999)   -  Getty Images A general understanding of the ‘Right of first refusal’ and the power of the Board to refuse registration of transfer could be gained from the decision of the Company Law Board in Satyanarayana Rathi Vs Annamalayar Textiles (P) Ltd, (1999)   -  Getty Images× Restrictions imposed by its Articles of Association binds a company more than other agreements with members

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