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As per Articles of Association of the company the directors can...

This question belongs to Commerce Legal Aspects Of Business
Legal Aspects of Business
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As per Articles of Association of the company the directors can borrow up to Rs. 10,000 without getting approval from the general meeting. The directors have lend Rs. 50,000 to the company without any approval of the general meeting and took debentures. The company would be liable for:

Answer & Solution
Correct Answer: Option C
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