Section 24(1)(f) in The Air Corporations Act, 1953

[Cites 0, Cited by 0] [Section 24(1)] [Section 24] [Entire Act]

Union of India - Subsection

Section 24(1)(f) in The Air Corporations Act, 1953

(f)sold or otherwise transferred any aircraft, equipment, machinery or other property of book value exceeding rupees ten thousand, and the payment, sale, disposal, acquisition, agreement or variation thereof, or other transaction or transfer, was not reasonably necessary for the purposes of the company or was made with an unreasonable lack of prudence on the part of the company, regard being had in either case to the circumstances at the time.

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Union of India - Subsection

Section 24(1)(f) in The Air Corporations Act, 1953