The Board of Directors (BoDs) of ABC plc. decides in its 315th Board Meeting held on 25.06.2022 to enter into a contract whereby a Director of the said company shall acquire certain assets from the company for consideration other than cash, without seeking approval of the company in its AGM. Some shareholders of the company raise objection against the decision taken by the BoDs. Examine the validity of the Board’s decision and state whether the objection of the shareholders is valid or not.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Validity of Boards Decision and Shareho... View the full answer