LL.B. (Three Years) Sem 3 Company Law Jun 2018 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Please check whether you have got the right question paper.

1. Answer in not more than two sentences 20 Marks

1. (a) What is 'Red-herring' prospectus?
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2. (b) Who is promoter?
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3. (c) What do you mean by cumulative shares?
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4. (d) What is fixed and floating charge?
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5. (e) Define debenture?
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6. (f) Who is proxy?
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7. (g) Point out any two distinctions between a company and a partnership?
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8. (h) What is 'Joint venture'?
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9. (i) Who is authorized person under FEMA 1999?
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10. (j) What is 'Export' under Foreign Exchange Management Act (FEMA) 1999?
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2. Write short notes on any four of the following 20 Marks

1. (a) Doctrine of constructive notice.
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2. (b) Forfeiture of shares.
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3. (c) Quorum.
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4. (d) Distinguish between Private and Public Company.
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5. (e) Equity shares.
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6. (f) Capital Account Transaction
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3. Answer any two of the following 12 Marks

1. (a) There is a not a provision in memorandum of Articles of Association of 'Prabhavati Manufacturing Co.' regarding preference shares. Whether it will participating or non-participating.
   • (a) What is Participating Preference Shares.
   • (b) Whether preference shares should be presumed as participating or non participating?
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2. (b) In the meeting of 'Vithai' Co. Ltd. proper quorum was present at the beginning. However few members left at the mid of the meeting when it proceeds to business.
   • (a) Does the departure of members invalidate the meeting?
   • (b) What is Quorum? What should be quorum for the meeting of Public and Private Company, if Articles of Association has no provision?
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3. (c) 'Trisha' Trading company is a Private company and shares of the company are divided between two members who have become irreconcilable. As a result the business no longer be effectively carried on. Both members continuous to quarrel and refuses to meet in matter of business and there is no hope of reconciliation.
   • (a) Can Court order winding up of such company? Is it mandatory on court to order winding up?
   • (b) On what grounds court can order winding up of companies under Companies Act, 2013?
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4. Answer any four of the following 48 Marks

1. (a) Explain the Doctrine of Indoor Management alongwith exceptions, if any.
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2. (b) Discuss the Doctrine of 'Ultra Vires' with special reference to Ashbury Railway Carriage and Iron Co. Ltd. Vs Riche.
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3. (c) Explain the Legal Position of a Director.
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4. (d) What is winding up a company? What are the grounds U/sec. 271 of Companies Act 2013 by which Tribunal may order winding up of a Company?
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5. (e) What is Prospectus? What are the remedies available for mis-statement in the prospectus?
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6. (f) What is Forfeiture of Shares? Explain the rules relating to valid forfeiture.
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