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प्रश्न
Justify the following statement.
The doctrine of Indoor Management protects outsiders who are unaware of the correctness of internal proceedings of a company.
उत्तर
(1) In order to maintain business secrecy, it is obligatory on the part of the company management and its officers that certain information which is important and confidential should not be leaked or known to the outsiders. Therefore, directors and mockers of the company must act in accordance with the information they get from the Memorandum of Association and Articles of Association.
(2) The doctrine indoor management explains that the third parties or persons entering into a contract with the company are not bound to inquire whether the company or its officers have followed the internal proceedings mentioned in the Articles of the company or not. It is presumed that the company acts as per the provisions made in its Memorandum of Association and Articles of Association. Thus, the doctrine of indoor management safeguards the interest of outsiders who deal with the company in good faith and without manacled interest.
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संबंधित प्रश्न
Select the correct answer from the option given below and rewrite the sentence.
_________ acts are void or legally ineffective.
Select the correct answer from the option given below and rewrite the sentence.
_________ contains rules and regulations for internal management of the company
Select the correct answer from the option given below and rewrite the sentence.
_______ is an incomplete prospectus.
Write a word or a term or a phrase which can substitute the following statement:
Primary document of a company which states aims and objectives of a company.
Write a word or a term or a phrase that can substitute the following statement:
The document is subordinate to the Memorandum of Association.
Write a word or a term or a phrase which can substitute the following statement:
Term used for acts beyond the scope of Memorandum of Association.
Write a word or a term or a phrase which can substitute the following statement:
Clause which describes the extent of liability of members.
State whether the following statement is True or False:
Memorandum of Association and Articles of Association is prepared at the time of incorporation of a company.
State whether the following statement is True or False:
Memorandum establishes the relationship between the Company and Members.
State whether the following statement is True or False:
Only public companies can issue Prospectus.
State whether the following statement is True or False:
Prospectus must be issued within 1 year from the date of tiling it with the ROC.
State whether the following statement is True or False:
Actions can be taken against a company or its officers for misstatements in prospectus.
Complete the sentence.
The documents which state the aims and objectives of a company is called as_________
Complete the sentence.
Any act done by the company which goes beyond the powers of Memorandum of Association will be calledas _________
Select the correct option from the given options:
| Group A | Group B |
| ___________ | Memorandum of association. |
Arrange in proper order.
a) Subscription clause.
b) Name clause.
c) Object clause.
Explain the following term/concept.
objective clause
Explain the following term/concept.
Liability clauses
Distinguish between the following:
Memorandum of association and articles of association.
