M/S. Vadivel Sizing And Weaving Mills ... vs M/S. Fenner (India) Limited on 20 December, 2012
In the decision of the this Court reorted in M/s. Sakthi Finance Limited vs. K. Selvaraj) 2011 SCD 707 Madras it was held that there is no explanation forthcoming as to who the authorised signatory was and what for was the authorisation and by whom. There was also no resolution passed by the Board nor there was any other document produced in evidence to show that the person who has signed the said document as authorised signatory really had authorisation to execute the said document. Therefore, this Court confirmed the order of acquittal passed by the lower Appellate Court. In para No.9, it was held as follows:-