https://www.taxtmi.com/caselaws?id=192472 Policy-holders could not use the policies or the articles of association to control the company's funds, and intervention was limited to cases of dissipation, waste, or diversion from the trust's proper objects. The decisive issue was whether the proposed building on the Mount Road site exceeded the original investment power in Article 116. The Court held that it did not: the word "purchase" was construed broadly enough to include acquisition by construction of a new building, and the project was not shown to be speculative or wasteful. The policy-holders were therefore not entitled to an injunction. en-us Wed, 19 Oct 1955 00:00:00 +0530 Fri, 02 Jun 2017 14:39:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192472 Policy-holders could not use the policies or the articles of association to control the company's funds, and intervention was limited to cases of dissipation, waste, or diversion from the trust's proper objects. The decisive issue was whether the proposed building on the Mount Road site exceeded the original investment power in Article 116. The Court held that it did not: the word "purchase" was construed broadly enough to include acquisition by construction of a new building, and the project was not shown to be speculative or wasteful. The policy-holders were therefore not entitled to an injunction. Case-Laws Companies Law Wed, 19 Oct 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192472