Assignment

Company Law& Practice

Submitted To:
Sir Waqar Sab
Submitted By:
Qaisar Shahzad
Roll No:
MCOF19M008
Session:
2019-2021
Program:

M.Com (2nd)
Q. N0:1
Multiple Choice Questions

1-What is known as Charter of Company?

A) Memorandum of Association
B) Article of Association
C) Prospectus
2-How many kinds of object of Company?
A) 3
B) 4
C) 5
3- Object of company can be altered under Section?
A) 22(1)
b) 23(1)
c) 24(1)
4- Main stages for formation of company?
A) 3
B) 4
 C) 5
5- Memorandum define --------?
A) Object of company
B) Operation of company
C) Both a & b
6-Article of Association is not obligatory for---------?
A) Public Ltd. Company
B) Private Company
C) Company limited by shares
7-Article is subordinate to-------?
A) Company
B) Memorandum
C) Prospectus
8-Main clauses of Memorandum ------?

A) 7
B) 8
C) 9
9-Prospectus must be issued within ----- days of
incorporation?
A) 30
B) 40
C) 50
10-Special resolution shall be passed by ------
Members?
A) 3/4
B) 2/4
C) 4/5
11- Removal of CEO is done by-----?
A) Special resolution

b) Directors
C) Owner
12- In Private Ltd. Company maximum number of
members is------?
A) 50
B) 40
C) 60
13-Article of association is------?
A) Optional

B) Mandatory
C) Necessary
14- ABC is a ------- Company?
 A) Holding
B) Subsidary
C) Public
15- A Company restricted to transfer shares is-----?
A) Private Ltd

B) Public
C) Holding Company

Q.NO: 2
Memorandum of Association of

Noon Sugar Mills Ltd

Name:
The name of corporation is”NOON Sugar Mills Ltd’.

Registration Office:
The registered office is located in
Bhalwal,Punjab,Pakistan.

Capital:
To start business we need Capital of 100 million
 rupees.The Authorized Capital is 10,00,00,000 and par value is 100
par share.

Investors:
Feroz Khan 2,00,000 shares
Ali Khan 3,00,000 shares
Taimoor Khan 1,50,000 shares

Objective:
The objects for which mill is established:
1- To carry business of sugar manufacture and sellers and buyer
of sugar products & refinery products.
2- To purchase ,manufacture ,prepare, sell sugar, sugar beets
sugar cane and all products or by products.
3- To manufacture, produce , refine, mix or prepare mine or
otherwise aquire , invest ,own, use ,lease , mortgage ,buy
,sell, distribution import and expoert of all kinds of products.
4- To engage in agriculture and utilize market and deal in
products.
5- To own, establish or have and maintain shops, store-rooms
and other place the production, custody,
bailment, deposit, or protection of goods or for
having them for sale or otherwise.
6- To act as storekeepers in all its branches and to buy, sell,
make and deal in goods, stores, consumable articles, chattels,
and effects of all types and to transact every type of agency
business or work or transaction and to generally enter in all
 such business and to do all such acts and things as may be
conducive to the business of the Company, which can
conveniently be carried on in connection with the objects of
the Company.
7- To carry on any other industry, trade or business whether
manufacturing, commercial or otherwise and as general
merchants, contractors, agents, guarantors, insurers,
exporters, factors, ware-housemen, transporters, which can
conveniently be carried on in connection with the objects of
the Company.
8- To contract for, execute, carry out, equip, improve, maintain,
work, develop, administer, manage or control public or
private works and conveniences of all kinds including any
telegraphs, telephones, signals and other similar apparatus,
roads, railways, tramways, docks, wharves, harbours, canals,
reservoirs, water-courses, embankments, irrigation,
reclamation, sewage, drainage, sanitary, water, gas and
power supply works, warehouses, manufacturers, ships,
stores, markets and public or objects.
9- To devise, design, and construct machinery plant for
experimental and industrial private buildings and all other
works of public or private utility.and.
10- To set up and operate research laboratories for conducting
scientific research on subjects and problems connected with
technical and commercial
use.
 11- To obtain from any Government or authority whatsoever
any orders or licences, concessions, privileges and rights or
other form of statutory or official authority that may seem to
the Company conducive to the carrying into effect of any of
the objects of the Company and to exercise, utilise .

Liability Clause:
The liability of members is limited.

Q.NO:3
Corporate law case
Karachi Dada Steel Mills v. Metalexport and 5 others 2009 CLD 1524 Division Bench-

Introduction:
The petition was filed when respondent refused to hand
over delivery.The court gave its judgement that Special Relief Act
can grant compensation when (i) when plaintiff abandon specific
performance and there is hardship factor in it.Further more
appellant purchase M for factory so factory is not considered by
trial court.