LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034
M.Com. DEGREE EXAMINATION – COMMERCE
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SECOND SEMESTER – APRIL 2007
CO 2804 – COMPANY LAW
Date & Time: 18/04/2007 / 1:00 – 4:00 Dept. No. Max. : 100 Marks
PART – A
Explain the following legal terms in FIVE line each: (10 x 2 = 20 marks)
- Company
- Shares
- Prospectus
- Director
- Allotment of shares
- Operation
- Memorandum of association
- Qualification shares
- Government company
- Incorporation certificate
PART – B
Answer any FIVE questions. Answer should not exceed two pages each: (5 x 8 = 40 marks)
- What are the differences between memorandum and articles of association?
- What are the differences between shares and stock?
- Explain the rule in Foss verses Harbottle. What are its exceptions?
- Explain the facts of the case Royal British Bank V/S Turquand. State its exceptions.
- How will you alter the articles of the association?
- Explain the rules regarding the allotment of shares. What are the consequences of irregular allotment shares?
- What are rights and duties of Director?
- What are the differences between equity shares and preference shares?
PART – C
(2 x 20 40 marks)
Answer any TWO questions. Answer should not exceed more than 4 – 6 pages each:
- State the contents of the prospectus.
- How will you alter the memorandum of association clause wise?
- Explain the various methods of appointing directors in a company. Explain rules for calculating managerial remuneration payable to directors.