Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Directors to perform the duties:
Therefore it cannot be that the auditors are to be at the expense and trouble not merely of sending their report through the post but of delivering a copy to every member. It seems that one is forced by circumstances to limit the meaning of the words "the members" and I hold that they mean "the members assembled in the familiar meeting".... whereas the report is to be made to the members in general meeting, then it would not be right, I think, to hold that the duty of the auditors is to make that report themselves to the members in general meeting unless they can themselves call a general meeting or can compel someone else to call a general meeting. There are no means by which they can call a general meeting or compel other persons to convene a general meeting. The only persons who can call a general meeting are the directors or the meeting who have called upon the directors to do so and they have failed to do so. The audience themselves are powerless.
In my judgement the duty of the auditors, after having affixed their signatures to the reports annexed to a balance sheet, is confined to forwarding, that report to the secretary of the company, leaving the secretary of the company or the directors to perform the duties which the statute imposes of convening a general meeting to consider the report....The statute compels directors to convene a meeting once a year and compels directors to present reports to the general meeting and it is for the shareholders to see that the directors do their duty...the duty of the auditors is discharged by sending the report to the company's secretary....."
SECURED CREDITORS: A secured creditor may: (a) realize his security and prove as an unsecured creditor for the balance (if any) of his debt; (b)value the security and prov
state the date on which the act came into force
Provision of Fiduciary Duties - company management: This provision is supplemented by Article 84 of Table A which provides that- i. The director shall not vote in respect
APPLIED LAWS: However section 2 of the Interpretation and General Provisions Act specified like an "applied law" as:; (a) here an Act of the legislature of another countr
Objects Clause: Reasons for Stating Objects Section 5 (1) (c) requires the memorandum of association to state the objects of the company. The section does not however indi
Disadvantages of Statute Law: Imposition of law However some Acts are imposed on the people and reflect the views of the pundits or Executive in the ruling political part
Issuing shares at a discount: In Ooregum Gold Mining Co of India Ltd v Roper (45) the House of Lords held that it is illegal for a limited company to issue its shares at a dis
QUESTION 1 The proliferation of tribunals, enquiries and quasi-judicial bodies constitutes the risk of a new type of despotism in running public affairs. How do the courts ensu
Condition for liquidation: The liquidation itself may render a charge over the company's assets void in any of the following circumstances: (a) the charge was not reg
Pat Clark is the controller for Best Pharma, a publicly-held pharmaceuticals manufacturer in Wilmington, Delaware. In early December 2011, Pat's boss, CEO Bernie Skilling, approac
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd