https://www.taxtmi.com/caselaws?id=97793 Directors' resolutions effecting a call are invalid if the resolution does not fix the time for payment and no proved notice fixes it; disparate calls between shareholders require express authority and an unproduced circular cannot substitute for proved notice, so the 30 April 1953 call was invalid as to appellants who did not assent. Directors who participated in and consented to the resolution are estopped from contesting defects of notice or timing and remain liable (including interest) for unpaid calls. Proven advance or allotment payments may be credited against call liability; unproven payments are rejected. en-us Fri, 07 Apr 1961 00:00:00 +0530 Wed, 18 Jan 2012 11:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97793 Directors' resolutions effecting a call are invalid if the resolution does not fix the time for payment and no proved notice fixes it; disparate calls between shareholders require express authority and an unproduced circular cannot substitute for proved notice, so the 30 April 1953 call was invalid as to appellants who did not assent. Directors who participated in and consented to the resolution are estopped from contesting defects of notice or timing and remain liable (including interest) for unpaid calls. Proven advance or allotment payments may be credited against call liability; unproven payments are rejected. Case-Laws Companies Law Fri, 07 Apr 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97793