Section 42(1) in The Delhi Vidyut Board Rules, 1997
(1)The Board shall have a first and paramount lien upon all stocks registered in the name of each holder (whether solely or jointly with others) and upon the proceeds of sale thereof for all moneys in respect of such stocks and no equitable interest shall be created except upon the footing and conditions that this rule shall have full effect, and such lien shall extend to all interest from time to time paid in respect of such stocks. Unless otherwise agreed, the registration of a transfer of stocks shall operate as a waiver of the Board's lien, if any, on such stocks.
