https://www.taxtmi.com/caselaws?id=96668 Validation of acts by irregularly qualified directors under the company framework confirmed the validity of share allotments and thus established contributory liability; accordingly, objections to inclusion on the contributories list were overruled and payment orders were made. The court applied the statutory principle validating acts of persons as directors despite qualification defects, relied on company articles to support board action, treated board proceedings as confirmed by the chairman, and accepted that imperfect liquidator calculations did not negate prima facie liability. One contributory was permitted staged monthly payments; liquidator's costs to be paid from company assets and objectors to bear their own costs. en-us Fri, 18 Jan 1935 00:00:00 +0530 Tue, 10 Jan 2012 12:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96668 Validation of acts by irregularly qualified directors under the company framework confirmed the validity of share allotments and thus established contributory liability; accordingly, objections to inclusion on the contributories list were overruled and payment orders were made. The court applied the statutory principle validating acts of persons as directors despite qualification defects, relied on company articles to support board action, treated board proceedings as confirmed by the chairman, and accepted that imperfect liquidator calculations did not negate prima facie liability. One contributory was permitted staged monthly payments; liquidator's costs to be paid from company assets and objectors to bear their own costs. Case-Laws Companies Law Fri, 18 Jan 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96668