Regarding law suggested answers

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Answers given in the suggested answers are not always right.Mistakes may happen. So the answer for the que." K Ltd was in the process of incorporation ........." given in the suggested answers was wrong acc. to me. Company is liable for the supplier of furniture and the liability of promoters comes to an end as and when the contract is adopted by company as per sec 19 and sec 15 of special relief act. provided that such a contract is warranted by the terms of incorporation of companyand it has communicated its acceptance.As the que. is silent it is assumed that it is warranted by terms of incorporation and the company has comminucated its acceptance. The same was given in Institutes study material,Munish bhandari's book. Solutions released by gurukripa has given the same that the company is liable. Almost everyone has written the same answer(all my frnds has written the same) This is just my view and hope it is the right answer.Don't worry. If anyone could prove I was wrong, you are always welcomed.I'll never mind and I'll correct mistake. Thank you,
Replies (2)
yes abhilash,according to me .co. Is liable but there is confusion .even in practice manual,the answer is :promoter is liable
Acc. to companies Act the promoter is liable.But taking into consideration the specific relief act the company is liable.


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