LL.B. (Three Years) Sem 3 Company Law May 2012 Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Answer in not more than two sentences 20 marks
   • (a) Point out any two distinctions between a public company and a private company
   • (b) What do you mean by lien on shares ?
   • (c) What is meant by dividend under Companies Act, 1956 ?
   • (d) Who is small depositor ?
   • (e) State any two requisites of a valid meeting What is floating charge ?
   • (g) Point out any two distinctions between a share warrant and a share certificate
   • (h) What is capital Account Transaction under FEMA Act, 1999 ?
   • (i) What is import under Foreign Exchange Management Act, 1999 ?
   • (i) What is prospectus under the Companies Act, 1956 ?
2. Q2 Write short notes on any four of the following 20 marks
   • (a) Holding and subsidiary company
   • (b) Doctrine of Constructive Notice
   • (c) Conversion of a Private Company to a Public Company
   • (e) Objective clause in the Memorandum of Association
   • (f) Forfeiture of shares
3. Q3 Answer any two of the following :— 12 marks
   • (a) ‘H’ was appointed as a managing director of a ABC Company on the condition that he shall not at any time while he holds office of a Managing director or afterwards solicit or entice away the customers of the company. His ‘appointment was determined under an agreement. Shortly afterwards he opened a business in the name of XYZ Company which solicited the
   • (i) Is there any breach of Contract ?
   • (ii) On what grounds can doctrine of lifting the corporate veil be applied ?
   • (b) Company A lent money to company B on a mortgage of its assets The procedure laid down in the Articles for such transactions were not
   • (i) Is the mortgage binding between Compony A and B ?
   • (ii) Will the exception to the doctrine of Indoor management apply in this case ?
   • (c) A private company has only two shareholders who are also the directors with equal rights of management and voting powers. 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 the company
   • (i) Can the Tribunal order the winding up of company ?
   • (ii) State the grounds on which the Tribunal can order winding up of the
4. Q4 Answer any four of the following :— 48 marks
   • (a) What are the advantages of incorporation of a company ? Discuss it in detail with the help of case laws
   • (b) What are the compulsory clauses in the Memorandum of Association ? In what mode and to what extend can a company alter these clauses ?
   • (c) Discuss about the powers and duties of a director of a company
   • (d) Explain the Rule in Foss V. Harbottle and also state the exceptions to it with the help of case laws
   • (e) What is prospectus ? What are the remedies available for Mis-statement in (f} In what circumstances may a company be wound up voluntarily and what are the immediate consequences of it ? [TURN OVER

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