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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 .
The project to develop India's first Constitution Park was initiated by:
Recently Vembannur Wetland Complex was declared as the Ramsar site. It is located in which State?
Cabinet approves continuation of Schemes of Ministry of Development of North Eastern Region, with an outlay of Rs.________ crore, for the balance period...
Which country has been selected as the first country under the IMO Green Voyage 2050 project to conduct a pilot project related to Green Shipping?
Consider the following in regards to the Kotak School of Sustainability :
1) It is India's first fully integrated institution dedicated to sustai...
Who has won the Bal Sahitya Puraskar 2021 for the Rajasthani language?
With whom will NPCI International Payments Ltd tie up for cross border transactions?
How Many statements about the INDUS-X Summit is/are correct?
1. The summit is organized by Innovations for Defence Excellence (iDEX) under the De...
Which of the following Russian bank launches direct payments in rupees in what would boost bilateral trade and investments in a big way in January 2023?
The Reserve Bank of India (RBI) has revoked the banking license of “Urban Co-operative Bank Limited due to severe financial irregularities and non-c...