Section 25 in The Central Warehousing Corporation Rules, 1963
25. Corporation to have lien on shares.
- The Corporation shall have a first lien on all shares registered in the name of each shareholder and on the proceeds of the sale thereof for its debts, liabilities and engagements, solely or jointly, with any other person to or with the Corporation, whether the period for payment, fulfilment or discharge thereof shall have actually arrived or not; and such lien shall extend to all dividends declared from time to time in respect of such shares, Unless otherwise agreed, the registration of a s transfer of shares shall separate as a waiver of the Corporation's lien, if any, on such shares.
