https://www.taxtmi.com/caselaws?id=98325 A resolution proposing two or more directors by a single motion that is void ab initio under the statute cannot form the basis of penal liability under the residuary penal provision. The note clarifies that Section 263(2) treats such resolutions as never having existed, leaving no contravention to be punished under the residuary penalty; penal provisions must be strictly construed and ambiguities resolved in favour of the accused. Consequent acquittal of persons moving the single resolution is therefore upheld and the appeal against acquittal dismissed. en-us Fri, 25 Feb 1966 00:00:00 +0530 Fri, 20 Jan 2012 11:43:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98325 A resolution proposing two or more directors by a single motion that is void ab initio under the statute cannot form the basis of penal liability under the residuary penal provision. The note clarifies that Section 263(2) treats such resolutions as never having existed, leaving no contravention to be punished under the residuary penalty; penal provisions must be strictly construed and ambiguities resolved in favour of the accused. Consequent acquittal of persons moving the single resolution is therefore upheld and the appeal against acquittal dismissed. Case-Laws Companies Law Fri, 25 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98325