https://www.taxtmi.com/caselaws?id=97491 Section 19 of the Displaced Persons (Debts Adjustment) Act, 1951 protects shares held by a displaced person on 15 August 1947, and the relevant date qualifies the holding of the shares rather than the date of the call. Where transfer forms had been signed but the transferee was not entered in the company's register, the company was entitled to rely on its register of members and treat the registered shareholder as liable for calls and any resulting forfeiture. The transferor may hold beneficially in trust as between transferor and transferee, but the company is not bound by an unregistered interest. On that basis, a person whose name remained on the register on the relevant date was treated as the holder and entitled to statutory protection; forfeiture against him was invalid. en-us Mon, 17 Sep 1956 00:00:00 +0530 Tue, 17 Jan 2012 10:18:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97491 Section 19 of the Displaced Persons (Debts Adjustment) Act, 1951 protects shares held by a displaced person on 15 August 1947, and the relevant date qualifies the holding of the shares rather than the date of the call. Where transfer forms had been signed but the transferee was not entered in the company's register, the company was entitled to rely on its register of members and treat the registered shareholder as liable for calls and any resulting forfeiture. The transferor may hold beneficially in trust as between transferor and transferee, but the company is not bound by an unregistered interest. On that basis, a person whose name remained on the register on the relevant date was treated as the holder and entitled to statutory protection; forfeiture against him was invalid. Case-Laws Companies Law Mon, 17 Sep 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97491