https://www.taxtmi.com/caselaws?id=100684 The court allowed the petition seeking rectification of the register of members under Section 155 of the Companies Act, 1956. It held that the shares could not be forfeited for losses incurred by shareholders, emphasizing that such losses are company liabilities. The court also determined that the petitioners' shares were not subject to lien for unpaid dues related to the losses. It rejected the argument to seek remedy in a civil court, stating that the matter could be decided based on a pure question of law. The court directed restoration of petitioners' names in the register without costs. en-us Fri, 03 Jun 1983 00:00:00 +0530 Fri, 03 Feb 2012 18:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100684 The court allowed the petition seeking rectification of the register of members under Section 155 of the Companies Act, 1956. It held that the shares could not be forfeited for losses incurred by shareholders, emphasizing that such losses are company liabilities. The court also determined that the petitioners' shares were not subject to lien for unpaid dues related to the losses. It rejected the argument to seek remedy in a civil court, stating that the matter could be decided based on a pure question of law. The court directed restoration of petitioners' names in the register without costs. Case-Laws Companies Law Fri, 03 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100684