https://www.taxtmi.com/caselaws?id=96759 A power of attorney must be strictly construed, and authority to deal with shares does not extend to renouncing entitlement to newly issued shares and nominating another person unless that power is clearly conferred. The document treated "surrender of shares" as referring to already issued shares, not refusal of fresh allotment rights. It also explains that where a share offer reserves to directors the right to reject a nominee, that reservation forms part of the offer itself; a nominee acquires no enforceable right to allotment if rejected. On the stated facts, the renunciation, nomination, and claim to allotment all failed. en-us Thu, 20 Jan 1938 00:00:00 +0530 Tue, 10 Jan 2012 18:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96759 A power of attorney must be strictly construed, and authority to deal with shares does not extend to renouncing entitlement to newly issued shares and nominating another person unless that power is clearly conferred. The document treated "surrender of shares" as referring to already issued shares, not refusal of fresh allotment rights. It also explains that where a share offer reserves to directors the right to reject a nominee, that reservation forms part of the offer itself; a nominee acquires no enforceable right to allotment if rejected. On the stated facts, the renunciation, nomination, and claim to allotment all failed. Case-Laws Companies Law Thu, 20 Jan 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96759