CA FINAL EXAM QUESTION
BY MANIT KAUR (40TH RANK,MAY2008)
CO-ORDINATOR
STUDENT HELP DESK
MEMBER JAB WE MET CA
SUBJECT :CORPORATE LAWS AND SECRETARIAL PRACTICE
CHAPTER- DIRECTOR
BY MANIT KAUR (40TH RANK,MAY2008)
CO-ORDINATOR
STUDENT HELP DESK
MEMBER JAB WE MET CA
SUBJECT :CORPORATE LAWS AND SECRETARIAL PRACTICE
CHAPTER- DIRECTOR
MR X was appointed as managing director for life by the articles of association of a private company
Incorportated on 1st june 1970. The articles also empowered ‘X’ to appoint a successor.
‘X’ appointed ,by will, ‘G’ to succeed him after his death. Can ‘G’ succeed ‘X’ as managing director after the death of ‘X’.? CA (FINAL),NOV 1995
ANSWER : Steps involved to solve the above question :-
1) Mention Problem :-Can ‘G’ succeed ‘X’ after the death of ‘x’ ?
2) Mention Applicable Section: 312 of Companies Act 1956
3) Mention Case Law and Decision :-Oriental Metal Precessing Pvt Ltd. V B.K. Thakoor
4) Give Analysis : difference between Assignment V/S Appointment
5) Give Conclusion:- There is appointment not assignment. Therefore the appointment of ‘G’ is valid and it does not amount to an assignment of office by ‘X’.
1) Mention Problem :-Can ‘G’ succeed ‘X’ after the death of ‘x’ ?
2) Mention Applicable Section: 312 of Companies Act 1956
3) Mention Case Law and Decision :-Oriental Metal Precessing Pvt Ltd. V B.K. Thakoor
4) Give Analysis : difference between Assignment V/S Appointment
5) Give Conclusion:- There is appointment not assignment. Therefore the appointment of ‘G’ is valid and it does not amount to an assignment of office by ‘X’.
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