https://www.taxtmi.com/caselaws?id=97905 An unpaid vendor who remains the registered legal owner after a specifically enforceable contract of sale retains the prima facie right to exercise voting rights unless an express contractual restriction or evidence of fraud defeats that position; equity treats the purchaser as beneficial owner while the vendor retains a vendor's lien or charge as security, making the vendor's position analogous to a mortgagee on the register. Applying those principles, the unpaid vendors were entitled to challenge the omission of notice of the annual general meeting and their claim on that issue was allowed. en-us Wed, 20 Dec 1961 00:00:00 +0530 Wed, 18 Jan 2012 15:23:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97905 An unpaid vendor who remains the registered legal owner after a specifically enforceable contract of sale retains the prima facie right to exercise voting rights unless an express contractual restriction or evidence of fraud defeats that position; equity treats the purchaser as beneficial owner while the vendor retains a vendor's lien or charge as security, making the vendor's position analogous to a mortgagee on the register. Applying those principles, the unpaid vendors were entitled to challenge the omission of notice of the annual general meeting and their claim on that issue was allowed. Case-Laws Companies Law Wed, 20 Dec 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97905