LL.B. (Three Years) Sem 3 Company Law Apr 2025 ATKT 75/25 Question Paper - Mumbai University | munotes

Questions asked in this paper

Q.1. Answer the following questions in one or two sentences (any six), any 6 of 10 12 Marks

1. (a) What is 'Red-herring' prospectus?
   Read the model answer
2. (b) Who is Alternate Director?
   Read the model answer
3. (c) What do you mean by 'Crystallization of Charge'?
   Read the model answer
4. (d) What is the legal principle contained in Salmon v. Salmond & Co. Ltd?
   Read the model answer
5. (e) Name any three disqualifications of a director.
   Read the model answer
6. (f) What is defunct company?
   Read the model answer
7. (g) Who is a "contributory" in the winding up of a company?
   Read the model answer
8. (h) When is Audit Committee is required?
   Read the model answer
9. (i) What is the time limit for holding the first AGM of a company?
   Read the model answer
10. (j) What is Insider Trading?
    Read the model answer

Q.2. Write short notes (any two), any 2 of 4 12 Marks

1. (a) Registration of company
   Read the model answer
2. (b) Forefeiture of shares
   Read the model answer
3. (c) Annual General Meeting
   Read the model answer
4. (d) Foss v. Harbottle
   Read the model answer

Q.3. Answer the following questions by giving reasons (any two), any 2 of 4 12 Marks

1. (A) Mukesh was a shareholder in Skyscrapers Limited. Mukesh died after executing a will, under which Dhiren, a son of Mukesh, was to inherit all his properties including the shares held by him. The Articles of Association of Skyscrapers Limited vested with the Board of Directors absolute discretion in regard to registration of transfer of shares. The Board of Directors refused to register the transmission of shares to Dhiren on the ground that Dhiren is an undesirable person.
   • (i) What are the documents Dhiren has to submit for transmission of shares in his name?
   • (ii) Is the refusal to register the transmission of shares by the Board of Directors of the Company correct?
   Read the model answer
2. (B) Shares of Wadhwa Company are divided between two members who have become irreconcilable. With the result that, the business can no longer be effectively carried on. Refusals to meet on matters of business, the members continues quarrelling and there is no hope of reconciliation.
   • (i) Can a Court order winding up of such company?
   • (ii) Is it mandatory on a Court to order winding up?
   Read the model answer
3. (C) A public company has been incorporated on 23rd January, 2025. It acquires its Certificate to commence business on 1st February, 2025. Answer the following with reasons.
   • (i) Is it required to hold Statutory Meeting and when it can hold it?
   • (ii) When can it hold its subsequent annual general meeting?
   Read the model answer
4. (D) The promoters of Gohar Wineries Ltd., Ms. Desai and Mr. Advani before incorporation entered into an agreement with Mr. Dalvi to buy a plot of land in Pune, on behalf of a Company. Alter incorporation, Gohar Wineries Ltd. Refused to buy a said plot of land.
   • (i) Does Mr. Dalvi has remedy against promoters Mr. Desai and Mr. Advani?
   • (ii) Does Mr. Dalvi has any remedy against Gohar Wineries Ltd.
   Read the model answer

Q.4. Essay type questions (any three), any 3 of 5 39 Marks

1. (1) Explain the Doctrine of Indoor Management alongwith exceptions, if any.
   Read the model answer
2. (2) Explain the Legal Position of a Director.
   Read the model answer
3. (3) Explain the provisions relating to the appointment of Auditors.
   Read the model answer
4. (4) State the golden rule of framing prospectus. What are the remedies available for misrepresentation in Prospectus.
   Read the model answer
5. (5) What is winding up of a company? Who are entitled to file a petition for winding up a company?
   Read the model answer

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