Monday, March 30, 2009

Companies Act_Practical Problems_68

For a breech of a contract by a company a proprietary firm filed a suit against, inter alia, a non-executive director who negotiated and concluded a written contract on behalf of the company. Will the suit filed against the non-executive director stand to legal scrutiny?

NI Act_Practical Problems_58

A cheque was issued by a company which bounced. A compliant under section 138 of the Negotiable Instruments Act, 1881 was lodged among others against the agent of the company. The magistrate took cognizance of the complaint and issued notice among others to the said agent of the company. Is the Magistrate right in issuing the summons to the agent of the company?

Practical Problems_Partnership Act_10

An unregistered partnership issued a cheque which bounced. On a complaint by the payee of the cheque the offence was taken cognizance of under section 138 of the Negotiable Instruments Act, 1881. The partnership assailed the summons before the High Court. Is the action of the unregistered partnership correct in law?

Companies Act_Practical Problems_67

A Scheme of Arrangement between two companies provided for the chanage of name of the transferee company. The Scheme was confirmed by the High Court. For giving effect to the change of name will it be necessary for the transferee company to company with the requirements of the Companies Act, 1956 in this regard?

Thursday, March 19, 2009

Companies Act_Practical Problems_66

When all the directors of two private companies are common, whether it is permissible to hold a Joint Board Meeting of two companies at the same time and place, more particularly when the subject matter is common ?

Saturday, March 14, 2009

Companies Act_Practical Problems_65

XYZ Ltd., a suspended listed co. has the follwoing capital details in its balance sheet.Authorised Share Capital: Rs. 3.50 Crores (35 Lakh Equity Shares of Rs. 10/- each. Issued, subscribed and paid up share capital: 30 Lakh Equity shares of rs. 10/-each Rs. 3,00,00,000, less: Call in arrear Rs. 1,20,00,000 = Rs. 1,80,00,000. Whether that companyp is required to obtain the Compliance Certificate for the year 2007 - 08.

Friday, March 13, 2009

Never fall in argument with dear ones...

A saint asked his disciples, 'Why do we shout in anger? Why do people shout at each other when they are upset?'
Disciples thought for a while, one of them said, 'Because we lose our calm, we shout for that.'
'But, why to shout when the other person is just next to you?' asked the saint. 'Isn't it possible to speak to him or her with a soft voice? Why do you shout at a person when you're angry?'

Disciples gave some other answers but none satisfied the saint.

Finally he explained, 'When two people are angry at each other, their hearts distance a lot. To cover that distance they must shout to be able to hear each other. The angrier they are, the stronger they will have to shout to hear each other through that great distance.'

Then the saint asked, 'What happens when two people fall in love? They don't shout at each other but talk softly, why? Because their hearts are v ery close. The distance between them is very small...'

The saint continued, 'When they love each other even more, what happens? They do not speak, only whisper and they get even closer to each other in their love. Finally they even need not whisper, they only look at each other and that's all. That is how close two people are when they love each other.'

MORAL: When you argue do not let your hearts get distant, do not say words that distance each other more, else there will come a day when the distance is so great that you will not find the path to return.

Never fall in arguments with dear ones, it may happen........... that you may win the arguments and loose the person..............

Tuesday, March 10, 2009


In 1883, a creative engineer named John Roebling was inspired by an idea to build a spectacular bridge connecting New York with the Long Island. However bridge building experts throughout the world thought that this was an impossible feat and told Roebling to forget the idea. It just could not be done. It was not practical. It had never been done before. Roebling could not ignore the vision he had in his mind of this bridge. He thought about it all the time and he knew deep in his heart that it could be done. He just had to share the dream with someone else. After much discussion and persuasion he managed to convince his son Washington, an up and coming engineer, that the bridge in fact could be built. Working together for the first time, the father and son developed concepts of how it could be accomplished and how the obstacles could be overcome.

With great excitement and inspiration, and the headiness of a wild challenge before them, they hired their crew and began to build their dream bridge. The project started well, but when it was only a few months underway a tragic accident on the site took the life of John Roebling. Washington was injured and left with a certain amount of brain damage, which resulted in him not being able to walk or talk or even move."We told them so." "Crazy men and their crazy dreams." "It`s foolish to chase wild visions." Everyone had a negative comment to make and felt that the project should be scrapped since the Roeblings were the only ones who knew how the bridge could be built. In spite of his handicap Washington was never discouraged and still had a burning desire to complete the bridge and his mind was still as sharp as ever.

He tried to inspire and pass on his enthusiasm to some of his friends, but they were too daunted by the task. As he lay on his bed in his hospital room, with the sunlight streaming through the windows, a gentle breeze blew the flimsy white curtains apart and he was able to see the sky and the tops of the trees outside for just a moment. It seemed that there was a message for him not to give up.

Suddenly an idea hit him. All he could do was move one finger and he decided to make the best use of it. By moving this, he slowly developed a code of communication with his wife. He touched his wife's arm with that finger, indicating to her that he wanted her to call the engineers again. Then he used the same method of tapping her arm to tell the engineers what to do. It seemed foolish but the project was under way again. For 13 years Washington tapped out his instructions with his finger on his wife's arm, until the bridge was finally completed.

Today the spectacular Brooklyn Bridge stands in all its glory as a tribute to the triumph of one man's indomitable spirit and his determination not to be defeated by circumstances. It is also a tribute to the engineers and their team work, and to their faith in a man who was considered mad by half the world. It stands too as a tangible monument to the love and devotion of his wife who for 13 long years patiently decoded the messages of her husband and told the engineers what to do.

Perhaps this is one of the best examples of a never-say-die attitude that overcomes a terrible physical handicap and achieves an impossible goal.

Often when we face obstacles in our day-to-day life, our hurdles seem very small in comparison to what many others have to face. The Brooklyn Bridge shows us that dreams that seem impossible can be realized with determination and persistence, no matter what the odds are. Even the most distant dream can be realized with determination and persistence.

Monday, March 02, 2009

Industrial Dispute Act_10

Shri Malik, a member of minority union of a factory raised an industrial dispute as to denial of promotion to him. Whether his claim for promotion is justified and will this claim stand to legal scrutiny?