The doctrine of indoor management is an important principle of Company Law that protects persons dealing with a company in good faith. It is also known as the “Turquand Rule”, after the leading English case Royal British Bank v. Turquand (1856). The doctrine is based on the principle that an outsider dealing with a company is entitled to assume that all internal procedures and formalities required by the company’s Articles of Association have been properly complied with. An outsider is not expected to investigate the internal management of the company before entering into a transaction. The doctrine operates as an exception to the doctrine of constructive notice. Under constructive notice, every person dealing with a company is presumed to know the contents of its Memorandum and Articles of Association, because these documents are available for public inspection. However, constructive notice does not require an outsider to know whether the company has actually followed its internal procedures. Thus, while an outsider must know the external limitations placed upon the company, he is generally entitled to presume that internal requirements