A Ltd. Company was entitled under its articles of association to borrow money on bonds authorised by a general resolution at a general meeting. Without seeking such authorisation the company raised a loan by issuing bonds signed by two of its directors. Is the Company liable to repay the loans? Would it make any difference if the lenders knew of the irregularity before making advances?
By Mayank ShekharPublished on 23 Feb 2023 11:19 AM GMT
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