https://www.taxtmi.com/caselaws?id=98689 The court upheld the validity of the share allotment to the appellant-firm, ruling that the allotment was authorized based on the underwriting agreement and the partners' awareness. The court considered the underwriting agreement as an application for shares, obligating the firm to pay the allotment money, which was in line with the company's articles of association. Additionally, the court supported the liquidator's claim for interest, affirming the decision and ordering the appellant-firm to cover the costs. en-us Tue, 25 Nov 1969 00:00:00 +0530 Sat, 21 Jan 2012 16:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98689 The court upheld the validity of the share allotment to the appellant-firm, ruling that the allotment was authorized based on the underwriting agreement and the partners' awareness. The court considered the underwriting agreement as an application for shares, obligating the firm to pay the allotment money, which was in line with the company's articles of association. Additionally, the court supported the liquidator's claim for interest, affirming the decision and ordering the appellant-firm to cover the costs. Case-Laws Companies Law Tue, 25 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98689