https://www.taxtmi.com/caselaws?id=289730 Company articles prescribing execution by the Managing Director, Secretary and Working Director controlled the validity of a mortgage bond. A bond signed only by the Secretary and Working Director did not comply with that mandatory mode of execution and was not binding on the company. Constructive notice of the articles prevented the lender from relying on a general recital of authority in the bond, particularly because the execution defect was apparent on its face. The protection available to outsiders dealing in good faith did not apply to a patent irregularity. The mortgage was therefore unenforceable against the company. en-us Tue, 16 Jan 1934 00:00:00 +0530 Tue, 18 Aug 2020 15:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289730 Company articles prescribing execution by the Managing Director, Secretary and Working Director controlled the validity of a mortgage bond. A bond signed only by the Secretary and Working Director did not comply with that mandatory mode of execution and was not binding on the company. Constructive notice of the articles prevented the lender from relying on a general recital of authority in the bond, particularly because the execution defect was apparent on its face. The protection available to outsiders dealing in good faith did not apply to a patent irregularity. The mortgage was therefore unenforceable against the company. Case-Laws Companies Law Tue, 16 Jan 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289730