LL.B. (Three Years) Sem 3 Company Law Nov 2014 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

1. (a) Who is contributory?
   Read the model answer
2. (b) What is "Dividend"?
   Read the model answer
3. (c) When, a person ceases to be a member of a company?
   Read the model answer
4. (d) What is stock?
   Read the model answer
5. (e) What do you mean by "Joint Venture"?
   Read the model answer
6. (f) When does transmission of shares take place?
   Read the model answer
7. (g) What is pre-incorporation contract?
   Read the model answer
8. (h) What is prospectus under the companies Act, 1956?
   Read the model answer
9. (i) What is fixed and floating charge?
   Read the model answer
10. (j) What do you mean by lien on shares?
    Read the model answer

2. Q.2 Write short notes on any four of the following 20 Marks

1. (a) Doctrine of Constructive Notice.
   Read the model answer
2. (b) Adjudicatory Authoirity under FEMA, 1999.
   Read the model answer
3. (c) Equity Shares.
   Read the model answer
4. (d) Extra-Ordinary General Meeting.
   Read the model answer
5. (e) Statement in lieu of Prospectus.
   Read the model answer
6. (f) Distinguish between Private and Public Company.
   Read the model answer

3. Q.3 Answer any two of the following 12 Marks

1. (a) Articles of Association of "Shree Samartha" Co. 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.
   Read the model answer
2. (b) The Directors of a Company passed a resolution at a Board Meeting, resolving to make a call on the shareholders. However, the amount of call money and the due date of payment were left blank in the resolution. Later, These blanks were filled by the secretary - Answer:
   • (i) Will such a call be valid? Why?
   • (ii) What do you mean by "Calls on Shares"?
   Read the model answer
3. (c) In the meeting of "Shiv Samartha Co. Ltd" proper quorum was present at the beginning. However few members left at the mid of meeting when it proceeds to business - Answer:
   • (i) Does the departure of members, invalidate the meeting.
   • (ii) What is quorum? What should be the quorum for meetings of Public and Private Company, if Articles of Association has no provision?
   Read the model answer

4. Q.4 Answer any four of the following 48 Marks

1. (a) Define "Company" and discuss the advantages of incorporatioin with reference to case laws.
   Read the model answer
2. (b) What are the compulsory clauses in the Memotandum of Association? In what mode and to what extend can a company alter these clauses?
   Read the model answer
3. (c) Who is Promoter? Discsus his position. State his duties and liabilities.
   Read the model answer
4. (d) Explain the provisions relation to appointment of auditors.
   Read the model answer
5. (e) Explain the provisions of compulsory winding up under :- (i) Inability to pay debts. (ii) Just and Equitable grounds?
   Read the model answer
6. (f) Explain the legal position of a Director?
   Read the model answer

Read from the scan above, so a character or two may differ. The scan is the original.