Doctrine Of Ultra Vires Meaning In Tamil

An act ultra vires the company cannot be ratified even by the unanimous consent of all shareholders.

Doctrine of ultra vires meaning in tamil. The doctrine of ultra vires however has its genesis in the english case of ashbury railway carriage and iron company ltd vs riche. Ltd entered into a contract with mr riche for providing finance for the construction of railway line in belgium. Its opposite an act done under proper authority is intra vires within the powers. There are three types of ultra vires acts which.

Need to translate ultra vires to tamil. Cookies help us deliver our services. Summing up the doctrine of ultra vires. It established its roots in 1875 when the directors and company of the ashbury railway carriage and iron company limited v hector riche 1874 75 l r.

Here s how you say it. Types of ultra vires acts. Doctrine of ultra vires has been developed to protect the investors and creditors of the company. Doctrine of ultra vires basic in tamil banking info at tamil.

Ultra vires translation in english tamil dictionary. The doctrine of ultra vires could not established its roots. Hence it is null and void. This doctrine prevents a company to employ the money of the investors for a purpose other than those stated in the objects clause of its memorandum.

653 as decided by the house of lords. Beyond the powers is a latin phrase used in law to describe an act which requires legal authority but is done without it. In this case the directors of the company i e ashbury railway carriage iron co. The ultra vires doctrine is a kind of insurance policy that reassures a company s shareholders and creditors that the company will not use their assets or funds for any purposes other than those that are afforded to it and specified within the ultra vires doctrine.

Doctrine of ultra vires has provides protection to the investors and creditors o the company. Indian companies act 2013. Ultra vires acts and their effects lecture 4 of 8 duration. Acts that are intra vires may equivalently be termed valid and those that are ultra vires termed invalid.

The doctrine of ultra vires applies to the memorandum of association of a company. The memorandum of association contains the permitted range of activities in its objects clause and a company cannot practice any other activity which is not defined under the scope of objectives mentioned in the memorandum any activity done out of the purview of the memorandum.