https://www.taxtmi.com/caselaws?id=96765 A statutory requirement to hold a general meeting once in every year was not satisfied by an adjourned meeting carried into the next year, because the adjourned sitting remained the same meeting and did not count as a separate annual meeting. The company's default under Section 76(1) was therefore upheld. Personal liability of officers, however, depended on proof that they were knowingly parties to the default; where they had taken and acted on legal advice, that requisite knowledge was not established. Their convictions were set aside and any fines collected were ordered to be refunded. en-us Fri, 18 Mar 1938 00:00:00 +0530 Tue, 10 Jan 2012 18:23:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96765 A statutory requirement to hold a general meeting once in every year was not satisfied by an adjourned meeting carried into the next year, because the adjourned sitting remained the same meeting and did not count as a separate annual meeting. The company's default under Section 76(1) was therefore upheld. Personal liability of officers, however, depended on proof that they were knowingly parties to the default; where they had taken and acted on legal advice, that requisite knowledge was not established. Their convictions were set aside and any fines collected were ordered to be refunded. Case-Laws Companies Law Fri, 18 Mar 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96765