https://www.taxtmi.com/caselaws?id=96619 The Privy Council upheld the High Court's decision, ruling that a company's reserve fund could not be used for general purposes but was specifically designated for the protection and advantage of preference shareholders. The court emphasized the importance of interpreting company documents to uphold shareholder rights, concluding that the company did not have broad powers over the reserve fund as claimed. The appeal was dismissed, and no costs were awarded. en-us Thu, 25 May 1933 00:00:00 +0530 Mon, 09 Jan 2012 17:53:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96619 The Privy Council upheld the High Court's decision, ruling that a company's reserve fund could not be used for general purposes but was specifically designated for the protection and advantage of preference shareholders. The court emphasized the importance of interpreting company documents to uphold shareholder rights, concluding that the company did not have broad powers over the reserve fund as claimed. The appeal was dismissed, and no costs were awarded. Case-Laws Companies Law Thu, 25 May 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96619