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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

Qualified directors request lawful inspection for a legitimate purpose. Officers refuse solely because a board resolution instructs refusal. No statutory defense is established. Officers argue the resolution immunizes every director who voted for it. Which Section 73 rule is relevant?

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Board resolutions always extinguish statutory access. All absent directors are automatically liable. Where refusal is pursuant to board resolution or order, the section imposes the specified liability on directors or trustees who voted for refusal. The resolution converts private records into State secrets.

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