Tuesday, February 24, 2009

Companies Act_Practical Problems_64

A, one of the shareholders of a company, filed a civil suit in a Court for removal of directors B, C & E. Is the suit maintainable?

Companies Act_Practical Problems_63

P, a director in a PSU is a nominee director of State Government. Whether any general notice is required to be given by him regarding companies in which he is interested?

Companies Act_Practical Problems_62

P was a director of XYZ Ltd. The shareholders of the company by altering its Articles of Association made compulsory qualification for directors to be at least graduate with immediate effect. P who was not graduate was asked to quit. Advise P.

Companies Act_Practical Problems_61

A company incorporated in 2000 had a provision in its Articles that a director should hold 200 shares of the value of Rs.10 each as qualification shares. At an AGM in 2003, an ordinary resolution was passed increasing the share qualification to 600 shares. The company then issued notice to the directors who did not hold 600 shares to acquire additional shares within one month. M, a director, who was asked to acquire additional qualification shares, received the notice. Advice.

Companies Act_Practical Problems_60

The articles of the company PQR Ltd. provide for the appointment of an alternate director. X, a director of PQR Ltd. while proceeding on a long foreign tour, appointed Y as his alternate to act for him during his absence. Whether the appointment of Y by X is valid?