Corporate and Other Laws - November 2019

Herry Limited is a company registered in Thailand. It has no place of business established in India, yet it is doing online business through telemarketing in India having its main server for online business outside India. State the status of the Company under the provisions of the Companies Act, 2013. (ii) SKP Limited (Registered in India), a wholly owned subsidiary company of Herry Limited decided to follow different financial year for consolidation of its accounts outside India. State the procedure…

(a) Om Limited served a notice of General Meeting upon its members. The notice stated that the following resolutions will be considered at such meeting: (i) Resolution to increase the Authorised share capital of the company. (ii) Appointment and fixation of the remuneration of Mr. Prateek as the auditor. A shareholder complained that the amount of the proposed increase and the remuneration was not specified in the notice. Is the notice valid under the provisions of the Companies Act, 2013.…

(a) Mahima Ltd. was incorporated by furnishing false informations. As per t he Companies Act, 2013, state the powers of the Tribunal (NCLT) in this regard. (5 Marks) (b) Referring to the provisions of the Companies Act, 2013, examine the validity of the following : (i) The Board of Directors of Anand Ltd. proposes to declare dividend at the rate of 20% to the equity shareholders, despite the fact that the company has defaulted in repayment of public deposits accepted…

The Board of Directors of Chandra Ltd. proposes to issue the prospectus inviting offers from the public for subscribing the shares of the Company. State the reports which shall be included in the prospectus for the purposes of providing financial information under the provisions of the Companies Act, 2013. (4 Marks) (b) Define the term 'deposit' under the provisions of the Companies Act, 2013 and comment with relevant provisions that the following amount received by a company will be considered…

(a) X Ltd. issued a notice on 1st Feb, 2018 to its existing shares holders offering to purchase one extra share for every five shares held by them. The last date to accept the offer was 15 th Feb, 2018 only. Mr. Kavi has given an application to renounce the shares offered to him in favour of Mr. Ravi, who is not a shareholder of the company. Examine the validity of application of Mr. Kavi under the provisions of the…