Supposing a company does something not stated in MOA should that be accounted in the books.
Is it Ultra vires the MOA
What is the impact of the same with reference to Companies Act
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Companies Act Query
Replies (1)
Any thing done beyond what is stated in MOA is ultra vires. The ultra vires act is void and unenforceable by company. Directors are personally liable for the ultra vires act to the third party.
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