https://www.taxtmi.com/caselaws?id=96615 A binding allotment of shares arises only when the allotment is not merely made but also communicated to the applicant. On the facts, the alleged intimation letter was not proved to have been sent, and the company's conduct did not show that the applicant had received notice before demanding repayment. Because communication was not established, the applicant could revoke the offer and recover the money paid for the proposed shares. The decree against the company was therefore set aside, and relief was granted for recovery of the amount with costs. en-us Tue, 09 May 1933 00:00:00 +0530 Mon, 09 Jan 2012 17:37:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96615 A binding allotment of shares arises only when the allotment is not merely made but also communicated to the applicant. On the facts, the alleged intimation letter was not proved to have been sent, and the company's conduct did not show that the applicant had received notice before demanding repayment. Because communication was not established, the applicant could revoke the offer and recover the money paid for the proposed shares. The decree against the company was therefore set aside, and relief was granted for recovery of the amount with costs. Case-Laws Companies Law Tue, 09 May 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96615