Saturday, July 17, 2010

Companies Act_Practical Problems_93

J held 100 partly paid up shares of LKM Limited. The company asked him to pay the final call money on the shares. Due to some unavoidable circumstances he was unable to pay the amount of call money to the company. At a general meeting of the shareholders, the chairman disallowed him to caste his vote on the ground that the articles do not permit a shareholder to vote if he has not paid the calls on the shares held by the him. J contested the decision of the chairman. Referring to the provisions of the Companies Act, 1956 decide whether the contention of J is valid.

18 comments:

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Never put off till tomorrow what may be done today..................................................................

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看後受益良多,謝謝∪ˍ∪......................................................

嘉王偉 said...

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李亦陳宏堯茵 said...

人們不缺少力量,他們缺少意志。..................................................

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謝俊林奕宏宏 said...

Lets cross the bridge when we come to it............................................................

红十字 said...

動不一定每一次都成功,但坐而不行,絕無任何成功可言............................................................

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筱陳婷 said...

道歉是人類一定必要的禮節..................................................

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洪涛 said...

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Gaurav Gupta said...

Restriction imposed on A is nt gud.
As BOD has nt forfeited his shares, nd still his name is in d registers of members. Hence, he has right 2 vote. I think so.

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