Case Facts
Who sued whom?
Kotla Venkataswamy sued Chinta Ramamurthy
What do we call a person appointed to manage the affairs of a company
Director
If the Board acts beyond its legal powers, what is the basic legal issue?
Ultra vires
How much was the mortgage bond worth?
Rs. 1000
What is the term for acting within the powers of a company?
Intra vires
A company gives property as security for repayment of a debt. What security is created?
Mortgage
Whose signature was missing from the mortgage bond?
The Managing Director's
Which doctrine prevents outsiders from claiming ignorance of a company's publicly available constitutional documents?
Doctrine of Constructive Notice
A company enters into a transaction without obtaining a required internal approval. The Board later formally accepts it. What is that acceptance called?
Ratification
What exact provision in the Articles governed the execution of the document?
Article 15
What principle was relevant when the mortgage bond was not executed in accordance with the Articles?
Strict Compliance
A director uses company property for a personal transaction without permission. Whose duty may have been breached?
Fiduciary Duty
What internal document did the court examine to determine whether the mortgage bond was properly executed?
Articles of Association
What principle protects outsiders from having to know about internal irregularities?
Indoor Management
A company follows its internal rules but violates the Companies Act. Which prevails?
Statute