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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
Name : Marks : 80
Course : Masters in Business Administration (MBA 4 Sem)
Subject : Corporate Law
Answer the following question.
Q1. State the miscellaneous provisions as regards charges (10 marks)
Answer:
1. Date of notice of charge (s.126). Where any charge on any property of a company required to be registered under s.125 has been so registered, any person acquiring such property or any part thereof or any share of interest therein shall be deemed to have notice of the charge as from the date of such registration.
2. Register of charges to be kept by registrar ( s. 1 30). The Registrar shall with respect to each company cause to be kept a register containing all the charges requiring registration and shall on payment of the prescribed fee, cause to enter in the Register with respect to every such charge the following particulars:
Q2. What are the Rights and liabilities of Incoming partners (10 marks)
Answer: Meaning of Incoming Partners: – Incoming Partners are the partners who are joining the partnership firm by contract or is added to the firm. The ‘incoming partners’ are the partner who are joining the partnership firm by contract or added to the firm. Incoming Partners are the new partners who get admitted to the firm. Such admission is subject to any procedure that the firm at its will and understanding adopts to include new members.
Q3. Write the distinguishing points of void agreement and voidable contract (10 marks)
Answer: Distinguish between Void Agreement and Voidable Contract
Void agreements are those agreements which are not enforced by law courts. Legally, a void agreement means the contract or agreement is no longer enforceable. A voidable agreement is a formal agreement between two parties that may be rendered, unenforceable for a number of legal reasons. The following are the points of difference between the two.
Void agreement: The type of contract which cannot be enforceable is known as a void contract.
- Enforceability: A void agreement is
Q4. What are powers of RBI to inspect authorized person (10 marks)
Answer: In case the Reserve Bank of India apprehends any suspicious activity related to the aforementioned authorised persons from a third party, they possess the power to inspect the party that is charged. This right is mentioned very clearly in Section 12 of the FEMA. It states that the Reserve Bank can, at any point in time, seek out an inspection of the activities and business of officially categorized authorised personnel. The investigation will be carried out by an officer of the Reserve Bank and the investigation by
Q5. Explain acquisition and agreement (10 marks)
Answer: What is an Acquisition?
An acquisition is defined as a corporate transaction where one company purchases a portion or all of another company’s shares or assets. Acquisitions are typically made in order to take control of, and build on, the target company’s strengths and capture synergies. There are several types of business combinations: acquisitions (both companies survive), mergers (one company survives), and amalgamations (neither company survives
Q6. What is the mode of giving a public notice (10 marks)
Answer: Section 72 lays down the manner and the cases in which the public notice of certain matters relating to partnership firm is to be given. According to it, public notice must be given in the following cases:
- On retirement or expulsion of a partner from a registered firm.
- On the dissolution of a registered firm.
- On the election of a minor to
Q7. Classify substantial law and procedural law (10 marks)
Answer: Procedural law consists of the set of rules that govern the proceedings of the court in criminal lawsuits as well as civil and administrative proceedings. The court needs to conform to the standards setup by procedural law, while during the proceedings. These rules ensure fair practice and consistency in the “due process“.
Substantive law is a statutory law that deals with the legal relationship between people or the people and the state. Therefore,
Q8. Discuss tangible and intangible propebly (10 marks)
Answer: What are Tangible Assets?
Assets with a physical existence that can be touched and felt are tangible assets. They are used primarily in the operation of the business to produce products or services. Since tangible assets are often purchased, they are much more easily valued than intangible assets.
Tangible assets can be accounted for as either long-term or current assets depending on their estimated life. These types of assets
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