https://www.taxtmi.com/caselaws?id=292228 Corporate lien over fully paid shares, unless expressly expanded by the articles of association or contract, operates as a right of retention rather than a power of sale. Exclusion of the relevant model regulation and absence of an authorised sale procedure prevent a company from unilaterally auctioning shares to recover alleged dues. Recovery of rental arrears through shareholding also requires a valid contractual foundation, such as a lease or other written agreement. Transfer or allotment without the shareholder's consent, properly acted-upon share transfer documentation, or authority under the articles is unlawful. The stated consequence is restoration of the shareholder's holding, rectification of the register of members, and restraint on further dealing with the shares without consent. en-us Thu, 05 Mar 2020 00:00:00 +0530 Wed, 13 Nov 2024 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292228 Corporate lien over fully paid shares, unless expressly expanded by the articles of association or contract, operates as a right of retention rather than a power of sale. Exclusion of the relevant model regulation and absence of an authorised sale procedure prevent a company from unilaterally auctioning shares to recover alleged dues. Recovery of rental arrears through shareholding also requires a valid contractual foundation, such as a lease or other written agreement. Transfer or allotment without the shareholder's consent, properly acted-upon share transfer documentation, or authority under the articles is unlawful. The stated consequence is restoration of the shareholder's holding, rectification of the register of members, and restraint on further dealing with the shares without consent. Case-Laws Companies Law Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292228