https://www.taxtmi.com/caselaws?id=97923 The court found that the defendants' proposals to pay compensation were ultra vires and unjustified under relevant case law principles. The payments were deemed gratuitous and not in the company's best interest, motivated by generosity towards employees rather than shareholder interests. The court held that majority shareholder ratification was not permissible, following established legal precedents. en-us Wed, 06 Jun 1962 00:00:00 +0530 Wed, 18 Jan 2012 15:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97923 The court found that the defendants' proposals to pay compensation were ultra vires and unjustified under relevant case law principles. The payments were deemed gratuitous and not in the company's best interest, motivated by generosity towards employees rather than shareholder interests. The court held that majority shareholder ratification was not permissible, following established legal precedents. Case-Laws Companies Law Wed, 06 Jun 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97923