Tuesday, April 23, 2013

Company(s) law

This is a mere fun filled imaginary post. Just a hilarious write-up.

What happens when a  Company lawyer thinks to get married?
A number of questions come in mind for example:
...1. Firstly a resolution is required to be passed but whether in a Board Meeting or in an General Meeting, the purpose of which will be to see a spouse for marriage.
2. Whether the notice of the meeting (invitation for first meeting) should necessarily contain the detailed agenda? (i.e. the particulars of the "would-be"?)
3. How many persons will constitute the quorum i.e. only the members of the family will go for the first meeting or all the relatives are to be invited.
4. Whether Section 299 (regarding disclosure of interest) (in case of love marriage only) is applicable or not?
5.If arranged marriage and relative, this might be office of profit as per 314.
6. Who shall sign the Minutes of the meeting to show that meeting was conducted properly.
7. To how many persons the wedding card is required to be circulated and what is the time limit for the same (how many days before the marriage)? Further if any penalty is provided for delay in the said circulation or merely a request to the registrar(relatives /friends) shall be sufficient to condone the delay- might be principle of acquiescence...
8. Applicability and the ceiling u/s 372A (inter corporate loans and investment s) (i.e. how much amount parents can give to a daughter on her wedding occasion)
9. Whether the amount as given above will form part of general reserve and will be available for writing off the marriage expenses.
10. Who shall maintain the register of members u/s 150
11. And Board Meeting on very important critical matters like:
a) Assignment of Duties (caring for children, cooking, washing utensils: how to share between the parties under Merger and Amalgamation);
Being assignment is void as per 312, might be apointment option..
b) How the income from operations from both sides will be shared and spent?
12. Explanator y statement U/s 173 to be given in the notice of General Meeting i.e. Object of the marriage , qualification&full disclosure of the interest etc.
Also will he/she be appointed on the rotational basis.
13.Post marriage : Mother or Spouse- Differential voting rights? who will get better dividends?
14. On nuclear family - shifting of registered office.
15.Choice of holding or subsidiary to spouse.(Predominantly subsidiary only)
16. Should satisfy the wife's relation otherwise greater chance of creditors winding up..
17. For husbands always- oppression from spouse as per 397.
18. Compromise and arrangement as per 391-394 after the marriage is always possible.
19.When a number of questions are arising at the time of planning marriage now you can think what will happen after marriage?
20.only AGM can give solution every year !!!!!!!

1 comment:

  1. Hi Sir

    nice one...:)
    adhenna " appointment on rotational basis" ;)

    Deepika Vaidyanathan