https://www.taxtmi.com/caselaws?id=98058 A legal representative who obtains letters of administration and seeks registration of deceased shareholder's shares is entitled to be recognised by the company unless a lawful ground exists to refuse transmission. A rival beneficial claim under an alleged trust does not defeat the company's duty to enter the legal representative in the register where the company has no lien and no valid basis to withhold registration. Section 155 of the Companies Act, 1956 was construed broadly to cover rectification in transmission cases as well as transfer cases, and the company's inaction and adjournments constituted default and unnecessary delay in updating the register. en-us Thu, 18 Jul 1963 00:00:00 +0530 Thu, 19 Jan 2012 10:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98058 A legal representative who obtains letters of administration and seeks registration of deceased shareholder's shares is entitled to be recognised by the company unless a lawful ground exists to refuse transmission. A rival beneficial claim under an alleged trust does not defeat the company's duty to enter the legal representative in the register where the company has no lien and no valid basis to withhold registration. Section 155 of the Companies Act, 1956 was construed broadly to cover rectification in transmission cases as well as transfer cases, and the company's inaction and adjournments constituted default and unnecessary delay in updating the register. Case-Laws Companies Law Thu, 18 Jul 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98058