https://www.taxtmi.com/caselaws?id=106996 Articles of Association may restrict share transfers to existing members, require prior board approval, and permit directors to refuse registration without assigning reasons. Shares sold through court auction remain subject to the transfer mechanism and restrictions prescribed by the company's Articles. Execution procedures for delivery or transfer of shares do not expand the judgment-debtor's interest or remove pre-existing contractual restrictions. An auction purchaser therefore acquires only the rights available to the original shareholder and may not claim an unconditional right to registration where the Articles validly restrict transfers to non-members. en-us Mon, 19 Mar 2001 00:00:00 +0530 Fri, 16 Mar 2012 18:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106996 Articles of Association may restrict share transfers to existing members, require prior board approval, and permit directors to refuse registration without assigning reasons. Shares sold through court auction remain subject to the transfer mechanism and restrictions prescribed by the company's Articles. Execution procedures for delivery or transfer of shares do not expand the judgment-debtor's interest or remove pre-existing contractual restrictions. An auction purchaser therefore acquires only the rights available to the original shareholder and may not claim an unconditional right to registration where the Articles validly restrict transfers to non-members. Case-Laws Companies Law Mon, 19 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106996