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Case Study Company Law A private limited company, Gemstones Put Lid, is engaged in the business of importing and supplying jewelry as wholesalers to local market. Ali, Ahmed, Sara, Faisal and Amir are the directors of the company. The company decided that the market is becoming more competitive so they need to expand their business. To achieve their target they obtained 4 million rupees loan for the local bank. They spent all the money to increase their business. All the directors of the company did not attend the meetings of the company, Ali and Ahmed are the only ones who participate in the meetings actively. At this time Ali contacted with another retailer of jewelry company, Saad who was looking for a reliable supplier. But he doesn't want to deal with Gemstones PVt Ltd because he doesn't like the managing director Ahmed. Ali did not want to miss this great opportunity so he set up his own business and entered into a contract with Saad without telling other directors of the company. All other members were unaware about this deal. After six months Ali resigned from the director's post because the company became insolvent and could not pay interest on its loans. Important points: 1. The company became insolvent due to expansion and was unable to pay the interest on its loans. 2. Saad was a potential customer of Gemstones Pvt Ltd. Consider the following: 1. Point out the concepts under Company Law underlying the case study. 2. Ali's course of conduct in the light of Company Law aspect. 3. Other director's liability arising in connection with the loan incurred. Could they avoid the liability under any circumstance? 4. Is Ali liable even though he has resigned from the post of the director? 5. Te legal sanding of Ali's own company running alongside Gemstones Pvt Ltd.Alldentify and explain the key financial, legal and regulatory influences which impact on financial statements produced and published by Hong Kong Public Limited Companies and Partnerships and Explain how the key legal and regulatory influences are relevant to the different users of financial statements.(PLZ GIVE THE REFERENCE, IF YOU TAKE THE INFORMATION FROM INTERNET IN RESPECT OF HONG KONG) B) Considering the annual accounts of sole traders, partnerships and public limited companies (plcs), identify for each of these any compulsory presentational format or publication requirement and discuss the main aspects of the regulatory framework which must be observed when reporting these accounts. PLZ WRITE IN DETAILQuestion 17 (1 point) Saved The Constitution delegates certain powers to the national government. True False Question 18 (1 point) Only an administrative agency may appeal the order of an administrative law judge. True False Question 19 (1 point) No court requires mediation before a case goes to trial. True e arch OPlatform 5.0 Than Test: Macro Chapter 11 dumbions - QUESTION 1 1, A Cut in Government Spending, A Promise In inc., | Cups Blackboard Help 1 points Keynesian economists "Tax outs. by providing incentives to work, save, and invest, will rise employment and loveor the price lovel. " This argument is made by the supply-side economists. daniel economists QUESTION 2 1 points Same Ar A government spending and taxation policy to achieve macroeconomic goals is known and: countercyclical policy fiscal policy. 1 monetary policy O a balanood budgot presidential diservion. QUESTION 3 1 points Bove Am According to supply side fiscal policy, reducing tax rates on wages and profits will () create damand-pul inflation. 1 lower the price level but may trigger a recession. moult in slaglation Th reduce both unemployment and inflation. QUESTION 4 1 points Save Arow To combat a reaction, Keynesian fiscal policy recommends: )an increase h government spending an increase in takes and a decrease in government purchases to balance the budget. a reduction in both taxis and government spending. i points Saer Are QUESTION S The wim of the marginal propentity to consume (MPC) and the marginal propensity to save (MPS) chars equals: Crick Have and Submit marred and submit. Click Save All Anagers to saw all answers. Save and Subm MacBook AirQUESTION 23 C.+1+X+G C+1+X C Aggregate Expenditures 0 Y Y2 Y3 YA Y5 GDP Refer to the diagram. If the full-employment GDP is Ya, government should incur neither a deficit nor a surplus. increase taxes and government spending by equal amounts. reduce taxes and increase government spending. increase taxes and reduce government spending. QUESTION 24 Click Save and Subput to save and submit. Click Save All Ansavers to save all and Save All MacBooks
