Section 7 Application: Clarifying Director's Borrowing Powers and Mortgage Execution Under Insolvency and Bankruptcy Code.

CIRP - Legality of admitting Section 7 Application - Existence of Financial Debt - Scope of Article of association - Delegation of power to Directors / Borrowing Powers of Directors. - If the Articles, have a provision which ‘prohibited the Directors’, from ‘delegating their power’, to ‘Borrow Monies’, does not prevent them from ‘empowering one of the Directors’, to execute a ‘Mortgage Deed’. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X