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Solve the questions below.. b) Maridadi Company Limited a private company limited by shares has adopted Table A as its articles- In March 199? the

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Solve the questions below..

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b) Maridadi Company Limited a private company limited by shares has adopted Table A as its articles- In March 199? the board of directors appointed Cools as managing director at a salaryr of Kshs'lll per month. Under the terms of the appointment, Mir. Cool: was to remain managing director for 5 years. h-{aridadi Company Limited has not made any prot for the last 4 years and the directors are very unhappy with Cook's performance. At an acrimonious board meeting, Cool-r outrightly refuses the board's proposals for improving the company's performance. The board of directors nos:r seek your advice as to whether it can lawfully talre the following causes of action: i] order Cook to conne his attention to the affairs of a subsidiary of Maridadi Co. Ltd. i1} dismiss Cools as managing director iii] remove Cook from membership of the Board iv) reduoe his salary by reason of poor performanoe. The rtieles of liim Ltd provide that dam, one of the promoters and a lawyer be appointed the company's advocate for life. It also eontains a provision to the effect that any dispute between the company and a member be referred to arbitration. Adam holds 80% shares in the company and acts as the company's advocate for 3 years aer which the company begins to channel some of its legal work to a new form of advocates- dams protests to the company but in vain. After 8 months all the oompany's legal work is talren over by the new rm. Advise dam. b) What are the principal functions of the managing director? The directors of Unguja Fanners Co. Ltd a public company limited by shares have not convened an annual general mee1ing of the company since it was inoorporated two and a halfyears ago. li-Ialrini, one of the shareholders is yearning for a meeting so as to parlieipate in the decision making of the company. Advise him. What are the criminal penalties for noncompliance with the provisions of the Companies net in relation to the annual general meeng and the statutory meeting

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