https://www.taxtmi.com/caselaws?id=96722 A charge was treated as valid where advances were made on the faith of a prior corporate resolution authorising borrowing on the company's assets, even though the charge deed was executed after the advances were completed. The transaction was not regarded as fraudulent under section 231 of the Companies Act because there was no evidence of intent to defeat creditors or collusive delay to mislead them. The company's capacity to borrow was also upheld, as the Registrar's certificate under section 103(2) was treated as conclusive and creditors were entitled to rely on it without investigating internal non-compliance by directors. en-us Tue, 06 Oct 1936 00:00:00 +0530 Tue, 10 Jan 2012 15:54:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96722 A charge was treated as valid where advances were made on the faith of a prior corporate resolution authorising borrowing on the company's assets, even though the charge deed was executed after the advances were completed. The transaction was not regarded as fraudulent under section 231 of the Companies Act because there was no evidence of intent to defeat creditors or collusive delay to mislead them. The company's capacity to borrow was also upheld, as the Registrar's certificate under section 103(2) was treated as conclusive and creditors were entitled to rely on it without investigating internal non-compliance by directors. Case-Laws Companies Law Tue, 06 Oct 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96722