LL.B. (Three Years) Sem 3 Company Law Nov 2013 Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q.1 Answer in not more than two sentences 20 Marks

1. (a) What is investment company?
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2. (b) What is 'red-herring' prospectus?
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3. (c) Who is alternate director?
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4. (d) State any two requisites of valid meeting.
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5. (e) What is fixed and floating charge?
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6. (f) Which company can issue a share warrant?
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7. (g) What is the punishment for the person, authorising the issue of prospectus, which includes untrue statement?
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8. (h) What is difference between shares and stocks?
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9. (i) Who is authorised person under FEMA 1999?
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10. (j) What is 'Joint Venture'?
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2. Q.2 Write short notes on (any four) 20 Marks

1. (a) Objective clause in the Memorandum of Association.
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2. (b) Doctrine of constructive Notice.
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3. (c) Rights of Members.
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4. (d) Public Issue.
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5. (e) Capital Account Transaction.
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6. (f) Manner of Repatriation.
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3. Q.3 Answer any two of the following questions 12 Marks

1. (a) Articles of Association of 'Sharda Company Ltd.' provided for preferential shares carrying a 'cumulative preferential Dividend'. Later on the company altered its Article by striking out the word. 'Cumulative' before preference - Answer
   • (i) Does preferential share holders of the company still entitle to a cumulative preferential dividend?
   • (ii) Distinguish between cumulative and Non Cumulative preference shares.
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2. (b) At an Annual General Meeting of a company, the matter is for the appointment of the director - Answer.
   • (i) When the retiring directors shall be deemed to have been re-appointed?
   • (ii) When board of directors, can appoint directors under companies Act?
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3. (c) A private company has only two shareholders who are also the directors. The company has made large profits, but there is a complete deadlock in the management of the company. One of the shareholder applied for the winding up of a company - Answer.
   • (i) Can the Tribunal order the winding up of company?
   • (ii) State the grounds on which the Tribunal can order winding up of the company.
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4. Q.4 Answer any four of the following questions 48 Marks

1. (a) Explain the circumstances under which the court can lift the corporate veil of the company.
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2. (b) Define private company. What are the privileges and exemptions available to the private company?
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3. (c) Explain the provisions relating to buy-back of shares.
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4. (d) Explain the Rule in Foss V. Harbottle and also state the exceptions to it with the help of case laws.
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5. (e) What are the remedies available to the minority shareholders of a company against oppression or mismanagement?
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6. (f) What is winding up of company? What are the grounds under section 433 of companies Act, 1956 by which Tribunal may order winding up of a company?
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