Solve the following

a) Shareholders of Wakulima Co. Ltd. resolved by special resolution that the allfairs of their company be investigated by an inspector appointed by the Court; Recently, the Court appointed two inspectors who investigated the oompany's affairs in two weelss and a report on the none has already been handed over to the Court. The report shows that 1] some directors of the company have misappropriated the company's funds and property. ii) some members of the company have committed fraudulent acts and misconduct against the oompany. iii] members have lost condenoe in the management of the oompany. A copy of the report has been delivered to the Attorney General for further action. Advise the Attorney General b} In what circumstances: 1] may the High ICourt refrain a person from being directly or indirectly involved in the management of a oompany's affairs- ii} may a company make a loan to its directors? c) Tirop who owns 500 shares in l'uIbao Co. Limited, a public company limited by shares contracted to sell them In Sironik Neither of them has transferred shares before" i} Advise them on the procedure of transfer of shares. i1) What would the legal position be if Tirop transferred the shares to Joash before the transfer to Sironr was registered? a) "They cannot themselves usurp the powers which by the articles are vested in the board any more than the board can usurp the powers which are vested in the general body of shareholders". (Per Lord Greel in Shaw V Shaw (Sanford) and Sons Ltd) Do you agree? b) Odipo and Associates, a firm of auditors has been in the business for the last 12 years. Last year two of its senior partners were convicted for fraud and imprisoned for 2 years and as a consequence were deregistered as practising accountants, leaving the firm with no partner but three accountants. Recently the annual general meeting of Wavuvi Co. Ltd. appointed Odipo and Associates as auditors. What are the legal consequences of the appointment