LL.B. (Three Years) Sem 3 Company Law Nov 2011 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

1. (a) What is constructive notice?
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2. (b) Who is promoter?
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3. (c) Define Prospectus.
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4. (d) What is Lien on Shares?
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5. (e) When the statutory meeting is required to be held?
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6. (f) What is 'Debenture'?
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7. (g) Explain Transmission of Shares.
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8. (h) What is Amalgamation?
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9. (i) What is Floating Charge?
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10. (j) What is 'Joint Venture'?
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2. Q.2 Write short notes on any four of the following 20 Marks

1. (a) Distinguish between Private and Public Company
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2. (b) Statement lieu of Prospectus
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3. (c) Quorum
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4. (d) Contributory
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5. (e) Official Liquidator
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6. (f) Capital Account Transaction.
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3. Q.3 Answer any two of the following 12 Marks

1. (a) Directors of 'A and B' Co. Ltd. signed a cheque in the name of the company, stating the company's name as 'AB' Co. Ltd. Thus omitted the word 'And', from the cheque - Answer.
   • (i) Who will held liable, if the bank returns the cheque as unpaid?
   • (ii) Is there any statutory provision to lift the corporate veil of company? If yes under what circumstances?
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2. (b) Articles of Association of 'Sai Chaitanya' 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.
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3. (c) 'Shakti' trading company is a private company and shares of the company are divided between two members who have become irreconciliable. As a result, the business can no longer be effectively carried on. Both members continues to quarrel and refuses to meet on matters of business, and there is no hope of reconciliation.
   • (i) Can court order winding up of such company? Is it Mandatory on court to order winding up?
   • (ii) On what grounds, Court can order winding up of companies under Companies Act, 1956?
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4. Q.4 Answer any four of the following 48 Marks

1. (a) Define 'Company' and discuss the advantages of incorporation, with reference to case laws.
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2. (b) Discuss the contents of 'Memorandum of Association' and explain the procedure for altering the object clause.
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3. (c) Explain the rule laid down in the case of Foss v/s Harbottle alongwith the exceptions, if any.
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4. (d) Distinguish between Fixed Charge and Floating Charge under what circumstance floating charge is converted into fixed charge?
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5. (e) What are the power of Directors? Also explain how directors can be removed.
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6. (f) What is winding up of a company? Who are entitle to file a petition to the court for the winding up of company?
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