Unit 4 of Company Law (syllabus: Module IV — corporate social responsibility; winding up as it now stands after the Insolvency and Bankruptcy Code 2016; corporate governance; and insider trading). Below: what the unit covers, the provisions it turns on, and the cases an examiner expects you to name.
What this unit covers
- Which companies must spend on corporate social responsibility, and how much?
- On what grounds may the Tribunal wind a company up?
- When has the substratum of a company failed?
- How are the assets distributed in a winding up?
- How are the Tribunals constituted, and what limits their jurisdiction?
- What may the Tribunal not decide?
Treat that list as a self-test: recite each topic's rule from memory before you open its cases.
Provisions
- Companies Act, 2013, s. 135
- Companies Act, 2013, s. 271
- Companies Act, 2013, s. 327
- Companies Act, 2013, s. 409
- Insolvency and Bankruptcy Code, 2016, s. 60
Leading cases
- Foss v. Harbottle (1843) 2 Hare 461
- Seth Mohan Lal v. Grain Chambers
- In re German Date Coffee Company (1882) 20 Ch. D. 169
- Dehradun-Mussoorie Electric Tramway Co. v. Jagmandar Das
- Madras Bar Association v. Union of India
- Embassy Property Developments Pvt. Ltd. v. State of Karnataka