corporate law

1487 views 2 replies

Hi

can anyone clear my doubts

A shareholder living in New Delhi sent a transfer deed for registration of transfer
of shares in a co. having its registered office in Mumbai. The share certificates
duly endorsed in his name were not received by him even after the expiry of
four months form the date of lodgement. He lodged a criminal complaint before
the appropriate court dealing with economic offences at New Delhi. Can the
court in New Delhi entertain the complaint?

A prospectus issued by a company contained a promise of subscripttion of a
substantial amount by some persons so as to introduce the public to subscribe.
The plaintiff who was allotted 10 shares alleged material misrepresentation.
Decide.

Ajoy buys 200 shares in a co. from Bijoy on the faith of a share certificate Issued
by the co. Ajoy tenders to the co. a transfer deed, duly executed, along with
Bijoy’s share certificate for transferring the shares in his name. The co. discovers
that the certificate in the name of Bijoy has been fraudulently obtained and
refuses to register the transfer. Advise Ajoy. Is Ajoy entitled to get the shares
transferred in his name?

 

ABC Ltd. Holds 80% of the share capital of Telco Ltd., and hence would like to
file a request for appointment of ABC Ltd. As a Director of Telco Ltd. Advice
ABC Ltd.

 

Replies (2)

1) The case pertains to company court and not criminal matter and hence would not be admitted by the court.

2) For false or misstatements in the prospectus, the company can be made liable by a shareholder, if he has invested in the public issue.

3) Ajoy cannot do anything against the company. He has recourse only against Bijoy.

4) Company cannot be appointed as director. But its representative can be appointed on the Board.

thanks for the reply

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