Section 348 CAMA 2020
Section 348 Companies and Allied Matters Act is about Evidence of shareholders’ approval not decisive. It is under Chapter 13 (Protection of minority against illegal and oppressive conduct action by or against the company) of the Act.
An application made or an action brought or intervened in under section 6 shall not be stayed or dismissed by reason only that it is shown that an alleged breach of a right or a duty owed to the company has been or maybe approved by the shareholders of such company, but evidence of approval by the shareholders may be taken into account by the Court in making an order under section 347.
