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Question
Select the correct answer from the option given below and rewrite the sentence.
_________ contains rules and regulations for internal management of the company
Options
Articles of Association
Prospectus
Memorandum of Association
Advertisements
Solution
Articles of Association contains rules and regulations for internal management of the company
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______ describes the relationship between company and outsiders.
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_______ is an incomplete prospectus.
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Memorandum need not have a Liability Clause.
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Every subscriber who signs the Memorandum must also sign the Articles.
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Letter of offer is issued at the time of Rights Issue.
Complete the sentence.
The document which contains the rules and regulations governing the internal management of a company is called _________
Select the correct option from the given options:
| Group A | Group B |
| Incomplete prospectus | ___________ |
Study the following case/situation and express your opinion:
A company stated in its prospectus that it has been making profits since the last 5 years. However, Mr. X. an investor found out that two years back the company had not made any profit. The prospectus was filed with the ROC on 1 st Jan 2017 and was issued to the public on 10th Feb 2018.
a) Can Mr. X state that there was a misstatement in the prospectus?
b) If found guilty which two types of liability will the company and its officers face?
c) Can the prospectus be valid for issue to the public on 10th Feb 2018?
