https://www.taxtmi.com/caselaws?id=398770 A ratified joint venture agreement was treated as binding, and its board quorum requirement was applied to invalidate a meeting called without the required nominee participation. The resulting notice convening the extraordinary general meeting was quashed as contrary to the agreed quorum framework and the statutory scheme for board action. At the same time, the company was permitted to raise funds through a lawful process before a duly constituted board, because the materials showed financial need and no sufficient basis existed for a status quo order over shareholding. en-us Fri, 28 Feb 2020 00:00:00 +0530 Wed, 23 Sep 2020 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398770 A ratified joint venture agreement was treated as binding, and its board quorum requirement was applied to invalidate a meeting called without the required nominee participation. The resulting notice convening the extraordinary general meeting was quashed as contrary to the agreed quorum framework and the statutory scheme for board action. At the same time, the company was permitted to raise funds through a lawful process before a duly constituted board, because the materials showed financial need and no sufficient basis existed for a status quo order over shareholding. Case-Laws Companies Law Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398770