Facts of the Case In this case, a private limited company was owned entirely by a husband and wife, who were the sole shareholders and […]
Category: OU LLB 3rd Sem – Company Law [Case Laws]
15. The directors of a company bought shares from ‘A’. They disclose to him that negotiations were conducted for the sale of all the company’s shares at higher price than they were to pay to “A”. A sued to have the sale set aside will he succeed.
Facts of the Case The directors of a company purchased shares from ‘A’. Before completing the transaction, they disclosed that the company’s shares were being […]
14. A company was authorised by its Articles to purchase its own shares. W sold his shares to the company and before the price was paid, the company went into liquidation. Is W entitled to prove in the liquidation for the price of the shares.
Facts of the Case A company, authorised under its Articles of Association to purchase its own shares, agreed to buy shares from a shareholder, W. […]
13. ‘X’ company lends to Y company on a mortgage of its assets. The procedure laid down in the Articles for such transactions is not complied with. The directors of the two companies are the same. Is the mortgage binding upon ‘Y’ company.
Facts of the Case ‘X’ Company lent money to ‘Y’ Company against a mortgage of Y’s assets. However, the procedure prescribed in Y Company’s Articles […]
12. ‘A’ had subscribed memorandum of a company for 100 shares. The company was duly registered but ultimately he took only 10 shares. The company was wound up what is the extent of ‘A’s liability. Explain.
Facts of the Case ‘A’ subscribed to the memorandum of a company for 100 shares at the time of its registration. The company was duly […]
11. A circus company borrowed a sum of money on the security of all its assets including machinery. What kind of charge is created by the circus company? Examine.
Facts of the Case A circus company, engaged in entertainment and commercial activities, required financial assistance for its business operations. To meet its financial needs, […]
10. Mr ‘P’ who was a minor, registered his name as a share holder. After attaining majority, he received dividend from the company. Subsequently the company went into liquidation. ‘P’ denies his liability? Decide.
Facts of the Case Mr. ‘P’, while he was still a minor, applied for and got his name registered as a shareholder in a company. […]
9. ‘X’ was a transferee of a share certificate issued under the seal of the defendant company. The certificate was issued by the company’s secretary, who affixed the seal of the company and forged the signatures of the three directors. Advise ‘X’ on legal action.
Facts of the Case ‘X’ purchased shares of a company in good faith and became a transferee of a share certificate issued under the official […]
8. ‘X’, who is a member of Vivek Ltd., a Public Company has very recently become an insolvent. Can the insolvent ‘X’ continue as a member of the company?
Facts of the Case ‘X’ is a shareholder and registered member of Vivek Ltd., a Public Limited Company incorporated under the Companies Act, 2013. Recently, […]
7. Ramu, who is a member of Alex Ltd., is of unsound mind. Can the shareholder of unsound mind exercise his voting rights of his membership in the said company? Give your advice.
Facts of the Case Ramu is a registered shareholder and member of Alex Ltd., a company incorporated under the Companies Act, 2013. Due to mental […]