https://www.taxtmi.com/caselaws?id=97197 Section 86F was construed as a remedial safeguard against conflicts between a director's duty and personal interest, so consent under the provision must relate to the particular contract or proposed contracts and be given with knowledge of the material facts. A general authorisation allowing a director to contract with the company was treated as insufficient because it would effectively waive the statutory disability and defeat the provision's purpose. The analysis also states that the section operates independently of the disclosure regime under section 91A, and practical difficulty cannot justify a construction inconsistent with the legislative object. en-us Mon, 22 Sep 1952 00:00:00 +0530 Sat, 14 Jan 2012 13:04:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97197 Section 86F was construed as a remedial safeguard against conflicts between a director's duty and personal interest, so consent under the provision must relate to the particular contract or proposed contracts and be given with knowledge of the material facts. A general authorisation allowing a director to contract with the company was treated as insufficient because it would effectively waive the statutory disability and defeat the provision's purpose. The analysis also states that the section operates independently of the disclosure regime under section 91A, and practical difficulty cannot justify a construction inconsistent with the legislative object. Case-Laws Companies Law Mon, 22 Sep 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97197