In the Board meeting, where quorum was of 4 Directors, Five Directors were present at the meeting when it began. All signed the attendance sheet but during the meeting due to difference of opinion, two left the meeting in between and while walking out scratched their names & signatures from the attendance sheet. Will that affect the validity of the quorum?
Monday, July 14, 2008
Companies Act_Practical Problems_13
Quorum for the Board meeting is 1/3rd of the total number of Directors. The Board had 10 members till 30th April 06. On 5th May 06 Mr. X , Director of the company died. For the meeting to be held on 3rd June 2006, what would be the quorum?
Labels:
Board Meeting(Sec 285-288),
CA(FINAL),
Companies Act
Sunday, July 13, 2008
Consumer Protection Act_Practical Problems_6
I had applied for electricity connection. However, power supply was not provided to me. Can I seek redressal of my grievance in Consumer Court?
Your grievances is that you application for electricity connection was not granted. Electricity may be a service but the hiring of the service is not complete till the Electricity Board sanctions
service. Hence, you can’t approach a Consumer Court for redressal of your said grievance. Your remedy is to file a civil suit in the Court of law against the Electricity Board.
service. Hence, you can’t approach a Consumer Court for redressal of your said grievance. Your remedy is to file a civil suit in the Court of law against the Electricity Board.
Consumer Protection Act_Practical Problems_5
The transformer, which was supplying electricity to me, got burned and was replaced by the department after about two months. However, However I was billed with consumption charges. Am I liable to pay any such charges when there was no consumption of electricity by me?
When the electricity was not supplied and the electricity bills produced by you showed that there was no consumption of electricity by you and admittedly the reason for that was burning
of the transformer, you are not liable to pay any minimum charges.
of the transformer, you are not liable to pay any minimum charges.
Friday, July 11, 2008
The legal effects of frustration
At common law: the contract is automatically brought to an end at the time of the frustrating event. The relevant statute is the Law Reform (Frustrated Contracts) Act 1943. It only applies where there’s no express provision in the contract for what happens if it’s frustrated.
The key provisions are:
If some sort of pre-payment or deposit has been made, the buyer can get that pre-payment back, minus any expenses incurred by the seller.
If some sort of pre-payment or deposit has been made, the buyer can get that pre-payment back, minus any expenses incurred by the seller.
If the contract has already been partly performed, it’s a bit more complicated. You have to pay for any benefit you’ve already received. Suppose the contract is for a complete garden makeover, and at the time of the frustrating event, the contractor has already installed a swimming pool in your garden. You have to compensate the gardener for the expenses he’s incurred in installing your pool.
Consumer Protection Act_Practical Problems_4
Does rejection of application for grant of loan by a Bank constitute deficiency in service for which I can approach the Consumer Court?
The Bank has a wide discretion in the matter of granting loans and advances and continuing disbursement of loans sanctioned. The Consumer Courts cannot sit in judgement over the discretion exercised by the Bank and as such you will not succeed in any such action, if taken by you.
Consumer Protection Act_Practical Problems_3
I was allotted a Maruti Car. There was a delay in delivery of the car. Subsequently, the dealer called upon me to make further payment as the price of the car had gone up. Am I liable to bear the price increase on account of delay caused by the dealer?
You are not liable to pay any price increase in the above mentioned circumstances since the increase in price is totally on account of the delay on the part of the dealer for which a
consumer cannot be made to suffer.
consumer cannot be made to suffer.
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