https://www.taxtmi.com/caselaws?id=198387 The Court allowed the appeal, converting the decree against the Managing Director to the personal liability of the promoter based on his involvement in ordering the building work before the company's registration. The judgment emphasized the promoter's personal liability principle until the company assumes the liability with consent, relying on English law principles due to the absence of specific Indian case law. The Court underscored the promoter's duties and the fairness in holding them personally liable to protect third-party interests. en-us Fri, 24 Apr 1959 00:00:00 +0530 Tue, 30 Jan 2018 12:18:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198387 The Court allowed the appeal, converting the decree against the Managing Director to the personal liability of the promoter based on his involvement in ordering the building work before the company's registration. The judgment emphasized the promoter's personal liability principle until the company assumes the liability with consent, relying on English law principles due to the absence of specific Indian case law. The Court underscored the promoter's duties and the fairness in holding them personally liable to protect third-party interests. Case-Laws Companies Law Fri, 24 Apr 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198387