https://www.taxtmi.com/caselaws?id=172251 Unanimous consent among directors may satisfy a statutory restriction on directors dealing with their company where no express board resolution is required, particularly where such dealings are contemplated by the articles and established practice. A general resolution authorising future member transactions does not itself constitute a contract or arrangement in which directors have an immediate personal interest. A prohibition on entering new futures in gur does not invalidate pre-existing outstanding futures without clear language to that effect. Settlement payments made as prudent commercial responses to market conditions do not establish fraud, misapplication of funds, or just and equitable grounds for winding up. Bona fide disputed debts requiring resolution in civil proceedings do not demonstrate inability to pay debts. en-us Wed, 07 May 1958 00:00:00 +0530 Mon, 17 Aug 2015 16:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172251 Unanimous consent among directors may satisfy a statutory restriction on directors dealing with their company where no express board resolution is required, particularly where such dealings are contemplated by the articles and established practice. A general resolution authorising future member transactions does not itself constitute a contract or arrangement in which directors have an immediate personal interest. A prohibition on entering new futures in gur does not invalidate pre-existing outstanding futures without clear language to that effect. Settlement payments made as prudent commercial responses to market conditions do not establish fraud, misapplication of funds, or just and equitable grounds for winding up. Bona fide disputed debts requiring resolution in civil proceedings do not demonstrate inability to pay debts. Case-Laws Indian Laws Wed, 07 May 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172251