https://www.taxtmi.com/caselaws?id=97149 A clause empowering continuing directors to fill vacancies remained operative even after the board fell below the minimum strength or quorum, because it was designed to meet that contingency. The power to co-opt, however, had to be exercised bona fide and in the interests of the company and its shareholders. On that basis, the co-option of K.N. Narayana Iyer was upheld as valid, while the co-option of K.C. Chandy was treated as invalid because the surrounding circumstances suggested it was used to strengthen management rather than serve corporate interests. en-us Fri, 04 Apr 1952 00:00:00 +0530 Sat, 14 Jan 2012 12:05:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97149 A clause empowering continuing directors to fill vacancies remained operative even after the board fell below the minimum strength or quorum, because it was designed to meet that contingency. The power to co-opt, however, had to be exercised bona fide and in the interests of the company and its shareholders. On that basis, the co-option of K.N. Narayana Iyer was upheld as valid, while the co-option of K.C. Chandy was treated as invalid because the surrounding circumstances suggested it was used to strengthen management rather than serve corporate interests. Case-Laws Companies Law Fri, 04 Apr 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97149