AIR 1935 LAHORE 464

Lahore High Court

Hon'ble Judge(s): Tek Chand , J

Companies Act (7 of 1913) , S.86— Directors themselves not paying allotment money on their shares - Allotment of shares by them as directors to others is valid. An allotment of shares by directors is valid even though the directors themselves have not paid the allotment money on the shares held by them and such objection is not open after liquidation:(Para 464C2)