https://www.taxtmi.com/caselaws?id=199820 A short defect in the notice fixing time for payment before forfeiture of shares does not render the forfeiture a nullity; it is voidable at the shareholder's instance. A claim for rectification of the register is governed by the residuary limitation period and may be in time, but equitable relief can still be refused where the shareholder's delay, acquiescence and conduct have prejudiced the company after reallotment and capital reduction. Rectification is also inappropriate where the forfeited shares have been reallotted, the transferees are not before the court, and the specific shares are no longer available; the proper remedy, if any, lies in damages or value. en-us Fri, 11 Mar 1949 00:00:00 +0530 Tue, 13 Mar 2018 16:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199820 A short defect in the notice fixing time for payment before forfeiture of shares does not render the forfeiture a nullity; it is voidable at the shareholder's instance. A claim for rectification of the register is governed by the residuary limitation period and may be in time, but equitable relief can still be refused where the shareholder's delay, acquiescence and conduct have prejudiced the company after reallotment and capital reduction. Rectification is also inappropriate where the forfeited shares have been reallotted, the transferees are not before the court, and the specific shares are no longer available; the proper remedy, if any, lies in damages or value. Case-Laws Companies Law Fri, 11 Mar 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199820