https://www.taxtmi.com/caselaws?id=98194 An interested director cannot vote on a matter in which he has a personal interest, and his presence cannot be counted for quorum for that transaction; however, the resulting resolution is irregular and voidable at the company's instance, not void, and may be affirmed by the company. The article also states that a loan may be proved by debit and credit entries in the company's books, even without the physical passing of cash, where the entries and a promissory note show a completed advance. A plea of illegality was not examined because it had not been properly raised below. en-us Thu, 15 Apr 1965 00:00:00 +0530 Wed, 24 Jun 2015 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98194 An interested director cannot vote on a matter in which he has a personal interest, and his presence cannot be counted for quorum for that transaction; however, the resulting resolution is irregular and voidable at the company's instance, not void, and may be affirmed by the company. The article also states that a loan may be proved by debit and credit entries in the company's books, even without the physical passing of cash, where the entries and a promissory note show a completed advance. A plea of illegality was not examined because it had not been properly raised below. Case-Laws Companies Law Thu, 15 Apr 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98194