Doctrine of ultravires
Ravi kumar
(Querist) 23 October 2012
This query is : Resolved
A PRIVATE COMPANY ENGAGED IN MANUFACTURING ACTIVITY AND UNDER LOAN LIABILITY AGAINST MORTGAGE OF LAND AND BUILDING,A DIRECTOR OF ABOVE COMPANY AUTHORIZED BY BOD
"TO NEGOTIATE FOR SALE OF LAND & BUILDING OF THE COMPANY AND SETTLE THE BANK LOAN".
THE DIRECTOR SOLD THE LAND & BUILDING ON THE BASIS OF ABOVE RESOLUTION AND FUND WAS UTILIZED BY COMPANY TO SETTLE THE BANK LOAN.
WHETHER THIS ACTIVITY OF THE DIRECTOR IS ULTRAVIOLET AND ONE OF THE DIRECTOR CAN FILE A CIVIL SUIT AGAINST THE DIRECTOR ON THE BASIS OF DOCTRINE OF ULTRAVIOLET,ALSO CREATING A PARTY TO THE PURCHASING COMPANY.
Is civil suit by a single director against a third party (purchasing co) is maintainable who has purchased the property from company is maintainable?
Devajyoti Barman
(Expert) 23 October 2012
You have repeated query the same query which is already replied .
You did not provide the answers to the the question we raised last night.
Without doing doing so do not repeat the same.
R.K Nanda
(Expert) 23 October 2012
repeated query.
