https://www.taxtmi.com/caselaws?id=97320 The judgment confirmed the validity of a resolution passed at a meeting of "B" ordinary shareholders for the reduction of the company's capital. The court held that despite a shareholder leaving before the resolution was passed, the initial quorum requirement under Article 52 was met when the meeting proceeded to business. The judge emphasized interpreting the articles in line with their intended purpose, distinguishing a prior Scottish case on quorum requirements. Ultimately, the resolution was deemed valid based on the specific language of the company's articles of association. en-us Mon, 29 Nov 1954 00:00:00 +0530 Mon, 16 Jan 2012 12:44:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97320 The judgment confirmed the validity of a resolution passed at a meeting of "B" ordinary shareholders for the reduction of the company's capital. The court held that despite a shareholder leaving before the resolution was passed, the initial quorum requirement under Article 52 was met when the meeting proceeded to business. The judge emphasized interpreting the articles in line with their intended purpose, distinguishing a prior Scottish case on quorum requirements. Ultimately, the resolution was deemed valid based on the specific language of the company's articles of association. Case-Laws Companies Law Mon, 29 Nov 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97320