Corporate and Other Laws - January 2025

(a) 1,00,000 Equity shares of ` 100 each were issued at a premium of ` 2 per share by PQR Limited after offer for the same was received from the shareholders in terms of the prospectus issued by the company on 1st April, 2022. The prospectus specified that the amount received from the issue will be exclusively used for manufacturing and distributing some life-saving drugs. In August 2024, the company after proper market survey found that there is ample demand…

Private Ltd. (SSPL) is a wholly owned subsidiary of Silk Block Ltd. (SBL) a listed public limited company. The Board of Directors of Silk Segment Private Ltd. have collectively decided upon the proposal to grant loans of ` 15,00,000 and ` 20,00,000 to Mr. Sohan and Ms. Subarna respectively for the purchase of fully paid-up shares in Silk Segment Private Ltd. Mr. Sohan is the Deputy Marketing Manager of Silk Segment Private Ltd. with a monthly salary of ` 1,00,000…

Projects Private Limited was incorporated on 1st June, 2022. Mr. X had already registered the trade name of "UINA Infra projects" on 1st April, 2018 under the Trade Marks Act, 1999. Mr. X was suffering from a pro-longed disease since 1st April, 2021. When Mr. X recovered from illness on 20th May, 2024 and joined his own office on 5th July, 2024, he came to know from his staff members that a company has been incorporated with the name UINA…

(a) Based on the applicable provisions of the Companies Act, 2013, define the term "foreign company" and identify which among the following companies can be categorized as a foreign company: SI. No. Place of Incorporation Registered Additional information 1 Singapore Singapore Developed patient's database for a hospital in Mumbai, India, server in Singapore. 2 No place of business in India but employs agents in India. 3 Cape Town Cape Town Board India. 4 Germany Germany 49% of the shares held…

Quick Money Limited attracts the provisions of section 135 of the Companies Act, 2013 and it has minimum average obligation to spend Corporate Social Responsibility (CSR) amount of ` 15 crore during each of the preceding five years. In this connection, the Board of Directors of the company needs your expert views on the following matters: (i) What is the meaning of "impact assessment"? (ii) Whether impact assessment is required to be taken by all the companies? (iii) Who can…

Top Spinners Foundation is a company registered under section 8 of the Companies Act, 2013 with a view to promote young and talented people towards becoming of world class cricketers. The foundation selects young 33 INTERMEDIATE EXAMINATION: JANUARY 2025 boys and girls from different parts of the country via talent hunt competitions and other references from its members, thereby giving them proper training with residential facilities at the designated clubs opened for the purpose. The Foundation had been incorporated as…