Director standing surety for outsider against whom prosecution was launched ‑ Whether ultra vires the company

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..... Whether ultra vires the company Recently a case came to the notice of the Government where a director of a public limited company stood surety for an outsider against whom prosecution was launched by the Government as a bailable warrant of arrest was issued by a court in this country. The matter has since been examined in detail and this Department is of the view that the action of the direc .....

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