explained the expression "ratification" as
under:-
"29. The expression "ratification" means
"the making valid of an act already done ... From the aforesaid, it is clear that ratifies / ratification
means making valid of an act already done. Thus, even
though the Company utilized the proceeds
held to be void ab initio and no amount of ratification could validate the order. The case pertains to the realm of disciplinary proceedings ... subsequent power of attorney. It was held that the ratification was valid and relates back to the date of original act.
8. The resolution dated
explained the expression
"ratification" as under :-
8
"29. The expression "ratification" means "the making
valid of an act already ... ratification
assumes an invalid act which is retrospectively validated.
30. The expression "ratification" was succinctly
defined by the English Court
explained the expression "ratification" as under :-
"29. The expression "ratification" means "the
making valid of an act already done ... ratification assumes an invalid act which
is retrospectively validated."
"30. The expression "ratification" was succinctly
defined by the English Court
PFUTP Regulations').
4. The AO also found that the ratification done by the company
on September 15, 2018 ratifying the purpose of repayment ... held on September 15, 2018 and, consequently, the ratification
done in the AGM was not valid. The AO after taking into
consideration the various factors
PFUTP Regulations').
4. The AO also found that the ratification done by the company
on September 15, 2018 ratifying the purpose of repayment ... held on September 15, 2018 and, consequently, the ratification
done in the AGM was not valid. The AO after taking into
consideration the various factors
special resolution and the actual utilization of the funds
pursuant to the ratification. In support of their submission, the learned
10
counsel placed reliance upon ... Company, the acts and
deeds done by the Company becomes valid and authorized
and therefore there was no variation of the utilization of
the proceeds
In Re: Investigation Into Initial ... vs Unknown on 27 April, 2006
ORDER
G. Anantharaman, Member
Rajkumar Saraf & Anr. Vs. Sebi vs Sebi on 8 November, 2023
BEFORE THE SECURITIES
Rajkumar Saraf & Anr. Vs. Sebi vs Sebi on 8 November, 2023
BEFORE THE SECURITIES
