https://www.taxtmi.com/caselaws?id=97198 An allottee who repudiated an allotment within the statutory meeting period but failed to institute prompt legal proceedings cannot obtain rectification of the share register or list of contributories after the company enters liquidation; repudiation under section 102(1) is voidable at the applicant's instance but must be followed by timely legal action, and once winding up commences courts protect third party and creditor rights and will not permit rescission unless the allotment was void ab initio or proceedings were begun before or promptly after commencement of winding up. en-us Thu, 25 Sep 1952 00:00:00 +0530 Sat, 14 Jan 2012 13:07:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97198 An allottee who repudiated an allotment within the statutory meeting period but failed to institute prompt legal proceedings cannot obtain rectification of the share register or list of contributories after the company enters liquidation; repudiation under section 102(1) is voidable at the applicant's instance but must be followed by timely legal action, and once winding up commences courts protect third party and creditor rights and will not permit rescission unless the allotment was void ab initio or proceedings were begun before or promptly after commencement of winding up. Case-Laws Companies Law Thu, 25 Sep 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97198