https://www.taxtmi.com/caselaws?id=399667 A company's lien over fully paid-up shares, where the articles provide no sale procedure, is limited to retaining the shares and does not authorise unilateral auction or transfer to recover dues. Recovery of alleged rental arrears through shares requires a proved contractual basis, such as a lease deed or binding agreement. Any auction or allotment without shareholder consent, an authorised procedure under the articles, and compliance with statutory share-transfer requirements lacks due process. Unauthorised dealings require restoration of the affected shareholding and prohibit further transfer or sale without express consent. en-us Thu, 05 Mar 2020 00:00:00 +0530 Fri, 16 Oct 2020 12:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399667 A company's lien over fully paid-up shares, where the articles provide no sale procedure, is limited to retaining the shares and does not authorise unilateral auction or transfer to recover dues. Recovery of alleged rental arrears through shares requires a proved contractual basis, such as a lease deed or binding agreement. Any auction or allotment without shareholder consent, an authorised procedure under the articles, and compliance with statutory share-transfer requirements lacks due process. Unauthorised dealings require restoration of the affected shareholding and prohibit further transfer or sale without express consent. Case-Laws Companies Law Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399667