Under the provisions of the Companies Act, 2017 comment on each of the following independent situations:...
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Under the provisions of the Companies Act, 2017 comment on each of the following independent situations: (i) (ii) (iii) Opticians Limited (OL), a listed company, plans to appoint Yameen as an independent director of OL. Yameen was Head of Operations of Glasses Limited till December 2016. Glasses Limited is a subsidiary of Opticians Limited. Zafar was recently appointed as a Director of HP Limited, a listed company. In March 2018 the board of directors came to know that Zafar had been declared a defaulter by the High Court. Kalim is a director of Behaal Limited. On 1 October 2017 Kalim went abroad on a personal trip and returned back on 15 February 2018. He was unable to attend five board meetings which were held during this period. Unique Limited is due to hold its first annual general meeting on 20 April 2018. Under the provisions of the Companies Act, 2017 advise the directors with regard to the types of businesses which would be deemed to be special business and also discuss additional formalities which are required to be complied with in respect of notice containing special business. Under the provisions of the Companies Act, 2017 comment on each of the following independent situations: (i) (ii) (iii) Opticians Limited (OL), a listed company, plans to appoint Yameen as an independent director of OL. Yameen was Head of Operations of Glasses Limited till December 2016. Glasses Limited is a subsidiary of Opticians Limited. Zafar was recently appointed as a Director of HP Limited, a listed company. In March 2018 the board of directors came to know that Zafar had been declared a defaulter by the High Court. Kalim is a director of Behaal Limited. On 1 October 2017 Kalim went abroad on a personal trip and returned back on 15 February 2018. He was unable to attend five board meetings which were held during this period. Unique Limited is due to hold its first annual general meeting on 20 April 2018. Under the provisions of the Companies Act, 2017 advise the directors with regard to the types of businesses which would be deemed to be special business and also discuss additional formalities which are required to be complied with in respect of notice containing special business.
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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