https://www.taxtmi.com/caselaws?id=96942 A company could not validly acquire its own shares through execution from its funds, so the execution sale was treated as a nullity. At the same time, the company's articles and Table A regulations supported a lien on the shares, and that lien continued so long as the underlying debt remained unpaid. Notice defects and other irregularities in the sale proceedings did not defeat the purchaser's title under the governing regulations, and the lapse of more than twelve years did not extinguish the debt or the lien. On that basis, the later sale by the company was treated as valid. en-us Mon, 15 Apr 1946 00:00:00 +0530 Fri, 13 Jan 2012 12:55:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96942 A company could not validly acquire its own shares through execution from its funds, so the execution sale was treated as a nullity. At the same time, the company's articles and Table A regulations supported a lien on the shares, and that lien continued so long as the underlying debt remained unpaid. Notice defects and other irregularities in the sale proceedings did not defeat the purchaser's title under the governing regulations, and the lapse of more than twelve years did not extinguish the debt or the lien. On that basis, the later sale by the company was treated as valid. Case-Laws Companies Law Mon, 15 Apr 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96942