https://www.taxtmi.com/caselaws?id=287340 A company property sale based on a disputed board resolution was examined on limitation, corporate authorisation, and purchaser protection. In fraud-based allegations, limitation runs from the date of knowledge, and the petition was held not time-barred because prior knowledge was not established. The alleged board resolution authorising the sale was found to be fabricated for want of notice, attendance, or reliable proof of a valid meeting, making it non-existent in law. The purchaser could not rely on indoor management or Section 41 of the Transfer of Property Act because the circumstances required inquiry and good faith was not shown. The sale deed was therefore void and liable to cancellation, with consequential restoration directions. en-us Fri, 02 Aug 2019 00:00:00 +0530 Thu, 14 Nov 2024 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287340 A company property sale based on a disputed board resolution was examined on limitation, corporate authorisation, and purchaser protection. In fraud-based allegations, limitation runs from the date of knowledge, and the petition was held not time-barred because prior knowledge was not established. The alleged board resolution authorising the sale was found to be fabricated for want of notice, attendance, or reliable proof of a valid meeting, making it non-existent in law. The purchaser could not rely on indoor management or Section 41 of the Transfer of Property Act because the circumstances required inquiry and good faith was not shown. The sale deed was therefore void and liable to cancellation, with consequential restoration directions. Case-Laws Companies Law Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287340