Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Faraya Limited(FL), an unlisted public company, is engaged in the business of manufacturing and sale of plastic bottles in Lahore. FL is planning to appoint

Faraya Limited(FL), an unlisted public company, is engaged in the business of manufacturing and sale of plastic bottles in Lahore. FL is planning to appoint Gul Maher as the chief executive officer (CEO) of the company. During an interview with Gul Maher, he disclosed to the board that his wife Mona is running a corporate brokerage house in Lahore and that his son Sultan, who is a business graduate, is engaged in the business of selling plastic bottles in Multan. Gul Maher also disclosed to the board that he sometimes provides technical assistance to Sultan without any charge. Under the provisions of the Companies Act, 2017advice andexplain whether FL can appointGul Maher as the CEO of the company.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tort Law And Alternatives Cases And Materials

Authors: Marc Franklin, Robert Rabin, Michael Green, Mark Geistfeld, Nora Engstrom

11th Edition

164708489X, 978-1647084899

More Books

Students also viewed these Law questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago