TMI Blog2017 (5) TMI 1274X X X X Extracts X X X X X X X X Extracts X X X X ..... r share holder in the company w.e.f. 26.12.2013. Hence, the Petitioner cannot continue with this Petition after cancellation of his shares by R1 company. In view of the facts, circumstances and case law stated above, the Company Petition is hereby dismissed. - T.C.P. No. 119 of 2016, And C.P. No. 42 of 2013 - - - Dated:- 11-4-2017 - MR. ANANTHA PADMANABHA SWAMY, AND CH. MOHD SHARIEF TARIQ, JJ. For The Represented : Mr. P. Neethi Kumar, Counsel For The Represented : Mr. A. K. Mylsamy, Senior Counsel Ch. Mohd Sharief Tariq, Judicial Member :-(ORAL) Under consideration is the Company Petition filed by the Petitioner Mr. S. Suresh. There are two Respondents in the Petition, the first Respondent is M/s. Avon Institute of Mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lien, if any, on a share shall extend to all dividends payable thereon. 3. The Counsel for the Respondents submitted that the Petitioner had to pay a sum of ₹ 62,90,623/- which was illegally and in an unauthorised manner withdrawn from time to time by the Petitioner from the Company's bank accounts. It has further been submitted by the Counsel for the Respondents that lien notices dated 6.11.2013 and 22.11.2013 have been sent to the Petitioner's registered address, as was contained in the record of the 1st Respondent Company. The lien notices have been returned undelivered with endorsement door locked . The Counsel for the Respondents has produced the original covers returned and the same are taken on record. 4. It i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... done by the company by exercising its lien as provided in the Articles of Association. The Articles of Association is a constitutional document of the company and is also a binding instrument on the shareholders and the company has all the rights to take action against the shareholder as per the Articles of Association by exercising the lien on the shares of the Petitioner. In this connection we may make a reference to the ruling given by the Hon'ble High Court of Calcutta in Albert Judah Judah v. Rampada Gupta AIR 1959 Cal. 715, wherein it has been held that the company was entitled to enforce its legal right to enforce the lien by selling the shares, and the court has no power to question the right of the company to exercise its lega ..... X X X X Extracts X X X X X X X X Extracts X X X X
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