BLS LLB 5 Years Sem 7 Company Law May 2019 Question Paper with Solutions

First published on munotes.in on 11 August 2026.

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Model answers written and edited by the munotes.in editorial desk.

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The question paper reproduced here is the paper as set by the University of Mumbai at the May 2019 examination.

The answers in this volume state the law as it stands today, not as it stood when this paper was set, and in this subject that distinction decides whole answers. The Insolvency and Bankruptcy Code, 2016 took inability to pay debts out of the grounds for winding up and omitted voluntary winding up from the Companies Act altogether, so an unpaid creditor now applies under the Code and a solvent company ends its life under Section 59 of it. Section 195, which prohibited insider trading, was omitted with effect from 9 February 2018, and Section 3A, making members severally liable when the membership falls below the statutory minimum, was inserted the same day. The certificate to commence business gave way to a director's declaration under Section 10A from 2 November 2018. Several questions here are set on institutions that no longer exist, most often the statutory meeting, which was Section 165 of the Companies Act, 1956 and was never re-enacted; those answers give the institution as it was and say what has replaced it.