https://www.taxtmi.com/caselaws?id=97404 A company's power to regulate the remuneration of its managing agent was treated as a matter of management detail, not an immutable condition of the memorandum. The Bombay HC held that section 10 of the Indian Companies Act did not prevent the company from approving extra remuneration by resolution. It further held that section 87C did not require a special resolution because the managing agent had continued under the earlier arrangement and was not freshly appointed after the Amendment Act commenced. The notice convening the meeting was also upheld, as the agenda item was not vague or legally defective, and the challenge to the resolution failed. en-us Fri, 25 Nov 1955 00:00:00 +0530 Mon, 16 Jan 2012 15:43:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97404 A company's power to regulate the remuneration of its managing agent was treated as a matter of management detail, not an immutable condition of the memorandum. The Bombay HC held that section 10 of the Indian Companies Act did not prevent the company from approving extra remuneration by resolution. It further held that section 87C did not require a special resolution because the managing agent had continued under the earlier arrangement and was not freshly appointed after the Amendment Act commenced. The notice convening the meeting was also upheld, as the agenda item was not vague or legally defective, and the challenge to the resolution failed. Case-Laws Companies Law Fri, 25 Nov 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97404