This article discusses the relevant laws encouraging the appointment of women as directors in companies. This article also discusses the relevant provisions related to requisites and remuneration of women directors.
The article starts by defining the creation of charge and giving a brief about the money lending and borrowing system. It further analyses the types of charges along with the alteration of charges. The article goes to the extent of pointing the provisions of punishment in case of any fault made during the creation or registration of charge.
This article studies the objectives of company to have promoters. This article studies the different types of promoters of a company and their importance in doing business.
This article discusses the right of the parties to exclude or limit their liability for breach of contract as laid down under the Indian Contract Act, 1872. This article also discusses the position in India with landmark case laws.
The case held that a pre-incorporation contract entered into by the companywould not bind the company, subsequent to the incorporation of the company if the conditions of the pre-incorporation agreement have not been fulfilled by the other party. In this case, the company sought to remove the plaintiff after the incorporation, whereas the agreement prohibited the same, but the company was held to be free to do so.
The Learned Judge in this case, adopted a broader approach while interrelating the definition than that has been done in the previous cases, thereby opining that advice by a person that the other Directors of the company are accustomed to follow, is a sufficient basis to find someone to be a shadow director.
This case dealt with the jurisprudence of defining ‘consumer’ under the Consumer Protection Act and also with the validity of the precedents decided before the Amendments in the Act.
The author here discusses the violation of SEBI norms for issuance of Equity shares by Non Banking Financial Companies with the help of a case law.
This judgement sets an example that prosecution cannot be quashed merely because the nature of the case appears to be civil. Therefore, the judgement has also increased the brink for quashing of prosecution under S.482 by the High Courts and ensures that there is not mass quashing of criminal proceedings.
The judgment makes it explicit that audi alteram partem should be followed before depriving parties of any of their rights or discharging them of their liabilities. It is essential that a notice should be given to such occupants, an opportunity of hearing should be granted to the parties concerned and procedure must be followed according to law.
The case of Lee v Lee Air Farming Ltd. revolves around the principle of Separate Entity regarding the Company Law established in the landmark case of Salomon v. Salomon & Co Ltd also known as the Salomon Principle.
The corporator even if he holds all the shares is not the corporation, neither he nor any creditor of the company has any property legal or equitable in the assets of the corporation.
The judgment certainly broadened the horizon of non-obstante clauses and makes them mandatory in nature. Its broad interpretation makes penalty redundant. Now, it is completely valid to assign mandatory meaning to a negatively-worded clause.
The compensation for mismanagement as well as for oppression does not exist in the first place when there is no proof of the act that is alleged. The case also deals with the rules governing annual meetings of a body corporate.
