Companies Act, 1973 (Act No. 61 of 1973)

Where minutes have been kept in accordance with the provisions of section 242 of the proceedings at any meeting of directors or managers of a company, the meeting shall be deemed to have been duly held and convened and all proceedings had thereat to have been duly had, and all appointments of directors, managers, officers or auditors of the company shall be deemed to be valid, until the contrary is proved.