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Question
State whether the following statement is True or False:
Every subscriber who signs the Memorandum must also sign the Articles.
Options
True
False
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Solution
True
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the sentence.
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Actions can be taken against a company or its officers for misstatements in prospectus.
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Study the following case/situation and express your opinion:
The object clause of Memorandum of a company stated the main object as the manufacturing of plastic chairs and tables and any other activity in furtherance of achievement of its main activity. The Board of Directors wants to now also produce TV. Serials and feels that the shareholders may give their permission.
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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.
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The doctrine of Indoor Management protects outsiders who are unaware of the correctness of internal proceedings of a company.
