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Answer the following with reasoning according to Corporate Law of Pakistan XYZ Ltd. was registered in the year 2017 under Companies Act 2017. There are
Answer the following with reasoning according to Corporate Law of Pakistan
- XYZ Ltd. was registered in the year 2017 under Companies Act 2017. There are allegations that the three directors who manage the affairs of the company are siphoning the funds of the company. The company has not declared any dividends on the ground that company is incurring losses. Mr. A, who controls 51% of the share capital of the company, sends a notice to the management that he will inspect the books of account to verify the allegations. Examine the Rights of Mr. A to carry out the inspection and State the Persons / Bodies who have the rights to carry out the inspection under the Companies Act, 2017.
- Mr. Sohan is the one of the subscriber of the MOA, of the interior investment ltd, out of the 7 subscribers his name is not mentioned in the register of member of the company at the time of declaring the dividend, company had not declared the dividend after arguing that Mr. Sohan is not the registered shareholder of the company, Explain the Legal Rights of Mr. Sohan under the Companies Act, 2017.
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