https://www.taxtmi.com/caselaws?id=193898 Contractual liens over shares created by company articles may secure unpaid advances and remain enforceable by sale even where the underlying debt is time-barred, because limitation bars a suit without extinguishing the debt or lien. Enforcement depends on compliance with the contractual sale power in the articles; a sale under that power is distinct from forfeiture. Requirements concerning transfer instruments and share certificates may not invalidate an enforced sale under the articles. Bona fide purchasers for value who acquire shares through a valid lien sale obtain title binding on the shareholder, absent fraud, collusion, or other established defect. en-us Mon, 18 Nov 1968 00:00:00 +0530 Thu, 30 Nov 2017 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193898 Contractual liens over shares created by company articles may secure unpaid advances and remain enforceable by sale even where the underlying debt is time-barred, because limitation bars a suit without extinguishing the debt or lien. Enforcement depends on compliance with the contractual sale power in the articles; a sale under that power is distinct from forfeiture. Requirements concerning transfer instruments and share certificates may not invalidate an enforced sale under the articles. Bona fide purchasers for value who acquire shares through a valid lien sale obtain title binding on the shareholder, absent fraud, collusion, or other established defect. Case-Laws Indian Laws Mon, 18 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193898