393. Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc
Any failure by a company to comply with the provisions of this Chapter shall not
affect the validity of any contract, dealing or transaction entered into by the company or its
liability to be sued in respect thereof, but the company shall not be entitled to bring any suit,
claim any set-off, make any counter-claim or institute any legal proceeding in respect of any
such contract, dealing or transaction, until the company has complied with the provisions of
this Act applicable to it.