1931 (7) TMI 16 - HC - Companies Law

Summary

The High Court in the Chancery Division granted an injunction to restrain directors from acting after verbally resigning, as per Article 34 of the company's articles of association. The court held that verbal resignation followed by acceptance by resolution was valid to terminate the directors' offices. The defendants' argument based on Article 34 was rejected, and the injunction was granted. (Case citation: 1931 (7) TMI 16 - IN THE CHANCERY DIVISION)