https://www.taxtmi.com/caselaws?id=96916 Where a share transfer had already been registered in the company's books before dividend declaration and payment, the company remained bound to recognise the registered shareholder under its articles. A private arrangement between transferor and transferee did not alter that obligation, even if a company clerk was told of it. The possibility of income-tax rebate difficulties did not create any legal basis to fasten liability on the company or require apportionment of dividend in favour of the transferor. The company was therefore not liable to the plaintiff for dividend apportionment, and the decree against it could not stand. en-us Thu, 21 Sep 1944 00:00:00 +0630 Fri, 13 Jan 2012 11:23:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96916 Where a share transfer had already been registered in the company's books before dividend declaration and payment, the company remained bound to recognise the registered shareholder under its articles. A private arrangement between transferor and transferee did not alter that obligation, even if a company clerk was told of it. The possibility of income-tax rebate difficulties did not create any legal basis to fasten liability on the company or require apportionment of dividend in favour of the transferor. The company was therefore not liable to the plaintiff for dividend apportionment, and the decree against it could not stand. Case-Laws Companies Law Thu, 21 Sep 1944 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=96916