https://www.taxtmi.com/caselaws?id=97134 Financier retained a lien on the company's uncalled share capital because the finance agreement expressly granted rights to call and forfeit uncalled capital on default and the agent's authority was limited to the agreement's terms; the District Judge's recognition of that lien is upheld. The agent's receipt and the financier's subsequent letter did not effect a full discharge or ratification because agency powers must be strictly construed, the agent exceeded no authorised authority for broader relinquishment, and only a limited ex gratia concession was recorded; therefore the financier's broader claim to uncalled capital remains enforceable. en-us Mon, 03 Sep 1951 00:00:00 +0530 Sat, 14 Jan 2012 11:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97134 Financier retained a lien on the company's uncalled share capital because the finance agreement expressly granted rights to call and forfeit uncalled capital on default and the agent's authority was limited to the agreement's terms; the District Judge's recognition of that lien is upheld. The agent's receipt and the financier's subsequent letter did not effect a full discharge or ratification because agency powers must be strictly construed, the agent exceeded no authorised authority for broader relinquishment, and only a limited ex gratia concession was recorded; therefore the financier's broader claim to uncalled capital remains enforceable. Case-Laws Companies Law Mon, 03 Sep 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97134