Question
From which famous case law the rule of “Majority shall
prevail” was inferred?Solution
The principle of the ‘Majority Rule’ was recognized in the landmark case of Foss v Harbottle (1843). As a general principle laid down in Foss v Harbottle, where it is alleged that a wrong has been done to the company then proper claimant in such an action is the company itself; as the company is a legal entity having its own separate identity apart from its members. Where the company is competent to settle the alleged wrong itself or, the company is competent to ratify or condone an irregularity by its own internal procedure, then no individual member may bring action Shareholders individually do not have the right to institute a suit against the wrongdoer of the company .
Who launched the e-SEHAT app for digital healthcare in Jammu and Kashmir?
Which of the following module RBI is planning to move to Daksh platform?
Recently Pakistan has successfully conducted the test flight of which ballistic missile?
Which city in Maharashtra will have a 75-feet tall 'Statue of Knowledge' dedicated to Dr B. R. Ambedkar, and how much money has been sanctioned for the ...
Which company has entered into a joint venture agreement with Kowa Holdings for the sales and marketing of green ammonia & green hydrogen produced and s...
The Ministry of Skill Development launched the Skill India Digital (SID) platform that aims to skill nearly 260 million students in school and higher ed...
Which of the following statements about the IEPFA and DBS Bank MoU is/are correct?
1. DBS Bank will disseminate safety messages through its digit...
Which country will host the Women’s Hockey Asia Cup in September 2025?
In the Asia-Pacific region, what is the expected annual capital damage by 2070 due to extreme weather events such as floods and storms?
Who is the author of the book “Forks in the Road: My Days at RBI and Beyond” ?