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Nagji Textiles Ltd v A.B Popat & 2 Ors
Nagji Textiles Ltd v A.B Popat & 2 Ors [2010] UGSC 31 (13 October 2010)
The Supreme Court held that the powers of attorney were validly executed by two directors of the appellant company in their capacity as directors, not merely as shareholders. The attempted revocation by one director was ineffective, as company decisions require majority action and proper procedure. There was no evidence that the revocation was communicated or registered before the sale and transfer of the suit property. Consequently, the sale and transfer effected by the 1st respondent under the powers of attorney were lawful. The allegations of fraud were not proven to the required standard,…
Source excerpt
- Powers Of Attorney
- Company Directors Authority
- Fraud In Property Transfer
- Bona Fide Purchaser
- Revocation Of Authority