10-mark question · Part C · Company Law

X company had no money to pay directors' fees. The directors thereupon paid into the company's bank account the amount remaining unpaid on their shares and retook the amount as fees. Does this give discharge to the directors' liability to pay on their shares?

Appeared in

• Company Law · April/May 2022 Mapped paper Download
• Company Law · January/February 2017 Mapped paper Download

Mapped topics

• Kinds of shares and transfer — Unit III
• Appointment, duties and independent directors — Unit IV
• Company, partnership, HUF and LLP distinguished — Unit I

Mapped case laws