https://www.taxtmi.com/caselaws?id=292694 Where shares have been sold but the transferor remains on the register, the registered holder is treated in equity as holding not only dividends and voting rights but also rights arising from a new issue for the purchaser, provided a proper requisition is made and the purchaser gives indemnity. The transferor must then apply for the additional shares for the beneficiary while the offer remains open, and a partial acceptance does not exhaust the remaining entitlement. By contrast, a company offering new shares to existing shareholders need not recognise a trust in favour of a receiver, and a receiver cannot obtain allotment or rectification in his own name where no valid application by the shareholder was made in time. en-us Mon, 07 Mar 1949 00:00:00 +0530 Tue, 05 Jan 2021 10:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292694 Where shares have been sold but the transferor remains on the register, the registered holder is treated in equity as holding not only dividends and voting rights but also rights arising from a new issue for the purchaser, provided a proper requisition is made and the purchaser gives indemnity. The transferor must then apply for the additional shares for the beneficiary while the offer remains open, and a partial acceptance does not exhaust the remaining entitlement. By contrast, a company offering new shares to existing shareholders need not recognise a trust in favour of a receiver, and a receiver cannot obtain allotment or rectification in his own name where no valid application by the shareholder was made in time. Case-Laws Companies Law Mon, 07 Mar 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292694