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 […]
Category: OU LLB 3rd Sem – Company Law
15. CSR
Corporate Social Responsibility (CSR) – Meaning and Concept Corporate Social Responsibility (CSR) refers to the statutory and ethical obligation of companies to contribute towards social, […]
14. Transmission of Shares
Transmission of Shares – Meaning and Legal Basis Transmission of shares refers to the transfer of ownership of shares by operation of law and not […]
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 […]
13. Doctrine of Ultra Vires
Meaning and Concept The Doctrine of Ultra Vires is a fundamental principle of Company Law which states that a company cannot undertake activities beyond the […]
12. Define Articles of Association
Articles of Association – Meaning and Nature The Articles of Association (AOA) are the internal rules and regulations of a company that govern its day-to-day […]
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. Who is a Promoter
Who is a Promoter – Meaning and Legal Basis A Promoter is a person who plays a key role in the formation and establishment of […]
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, […]