1935 (7) TMI 17

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....ectric Supply Company and applied for sanction to their transfer on the 22nd and 23rd June and 4th and 29th July, 1933. His applications came up before a meeting of the directors on the 5th August, 1933, and were accepted. In the meantime, the company had declared a bonus of Rs. 2/- on each share on the 29th July, and this was paid out to the members whose names appeared on the books of the compan....

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....e directors which took place after the first three applications had been received. This was on the 15th July. Apparently the papers came up before the Chairman on that date, but he called for further particulars with the result that the applications were not laid before the other directors until the next meeting. Counsel for petitioners has cited a number of authorities to show that the failure to....