DAMODARAM SANJIVYYA NATIONAL LAW UNIVERSITY

Visakhapatnam

COURSE OUTLINE

Title of the Subject: CORPORATE LAW I

Name of the Faculty: Dr. Dayananda Murthy C P Total No. of Hours: 75

Academic Session – July – November, 2018

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INTRODUCTION:
The fields of business being in a constant state of flux, the students are expected to be thoroughly conversant with the latest developments in corporate law,
amendments to the laws or the corresponding provisions of any statutory modification or re-enactment thereof and judicial pronouncements. Companies are
surging into and bringing new activities into the fold of Indian economy. They have emerged internationally as efficient providers of a wide range of goods and
services, including increasing number of options and avenues for international business, trade and capital flows not only for harnessing entrepreneurial and
economic resources efficiently but also to be competitive in attracting investment for growth.
Keeping up with this pace, a review and redrafting of the Companies Act, 1956 was taken up by the Ministry of Corporate Affairs. The Companies Act, 2013 was
enacted replacing the 1956 Company Law, which has come into force. There are various changes made to the new Act wherein it not only tries to simplify the
substantive but also procedural law. In addition, the students will be guided through the provisions of the Securities Exchange Board of India Act, 1992,
Depositories Act, 1996 and the Securities Contract Regulation Act, 1956 as part of the subject. It shall also be kept in mind that the Globalisation has open vistas
of both inbound and outbound investments. The companies are attracted to the global markets and the Indian Depositories Receipts/ Global Depositories
Receipts are examples of investment opportunities. Students are expected to know the companies prospect of foreign investments regime which has developed
as a separate branch of law. The Competition or anti-trust law also has an effect on the functioning of the companies which branch of law has gained prominence
in the recent past.
The objective of the course is to develop an understanding of the law of registered companies and to provide thorough understanding of the various provisions of
the Indian Company Law (Companies Act, 2013) as well as Schedules, Rules and Regulations made there under including their interpretation through case laws,
departmental clarifications, etc.
The course shall intend to provide the following learning outcomes wherein students shall acquire:
1. Knowledge to practice corporate laws as a Judge, Advocate, academician or as adviser to the companies
2. Identification and Recognition of the Problem and necessary skills to deal in the existing business scenario
3. Knowledge in identifying appropriate legal remedies exists or not in a given situation.

Students are expected to understand and know:

a. The Concept of incorporation of companies, separate legal entity, lifting of corporate veil and limited liability
b. The statutory and administrative compliances required under the Companies Act 2013
c. The capacity of companies including the powers and limitations.
d. The changing face of Doctrine of Ultra-Vires, Constructive Notice & Indoor Management.
e. The concept of share capital and debt capital including debentures in addition to overall financial structure of the companies.
f. The role, responsibility, powers, duties and limitations and potential liability of the promoters, directors, managers, the shareholders and debenture
holders in a company.
g. The power equations between the shareholders and the directors and shareholder and debenture holders’ remedies.
h. Concept of shareholder’s democracy in company matters i.e. Majority Rule and legal protection of the Minority Shareholders

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 i. To have an understanding of the management of company affairs and winding up of companies including insolvency petitions.

Unit UNIT 1 No. of

No. INTRODUCTION Hours
The Companies Act, 2013 - Chapter – I - XXIX - SS. 1 – 470
1.1 Forms of business enterprises – Individual 2
proprietor – Partnership - Companies -
‘Company’ as a business medium. Changing
Face of Companies. Historical Development of
Concept of Corporate Law
1.2 Nature, Characteristics and functions of Salomon v A Salomon & Co Ltd, (1897) AC 22 4
companies – In Re, The Kondoli Tea Co. Ltd.., (1886) ILR 13 Cal 43
Company as a Person Catherine Lee v Lee’s Air Farming Ltd., (1961) AC 12
Concept of Corporate Personality & Limited Bacha Guzdar v CIT, (1955) 25 Comp Cas 1 (SC); AIR 1955 SC 74
Liability Macaura v Northern Assurance Co. Ltd., (1925) AC 619 (HL)
Perpetual Succession Gilford Motor Co Ltd v Horne, (1933) Ch. 935
Company as a Citizen – Its Residence / Jones & Another v Lipman & Another, (1962) 1 WLR 832
Domicile Common Seal (Sec. 9) LIC v Escorts Ltd., (1986) 1 SCC 264;
New Horizons Ltd. v Union of India, (1995) 1 SCC 478;
State of U.P. and Ors v Renusagar Power Co. and Others, AIR 1988 SC 1737
Re Noel Tedman Holdings Pty Ltd. (1967) QDR 561
1.3 Lifting of Corporate Veil / Piercing the Daimler Co. v Continental Tyre & Rubber Co. (Great Britain) Ltd., [1916] 2 A.C. 307 4
Corporate Veil & Reverse Piercing (H.L.)
FG (Films) Ltd., (1953) 1 WLR 483
In Re, Commissioner of Income Tax v Sri Meenakshi Mills Ltd., Madurai, AIR 1967 SC
819;
Commissioner of Central Excise, v M/S Modi Alkalies & Chemicals Ltd., (2004) 7 SCC
569
PNB Finance Ltd. v Shri Shital Prasad Jain and Others, AIR 1982 DEL 125
Delhi Development Authority v Skipper Construction Co. Pvt. Ltd., AIR 1996 SC 2005,
1996 (4) SCC 622
Apthorpe v Peter Schoenhofen Brewing, (1899) 15 T.L.R. 245 (A.C.)
Smith, Stone & Knight Ltd. v Birmingham Corp., (1939) 4 All E.R. 116 (K.B.)
DHN Food Distributors Ltd. v London Borough of Tower Hamlets, (1976) 1 W.L.R. 741

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1.4  Contractual, Tortious and Criminal Liability
 Officer in Default
 Doctrine of Identification
 Doctrine of Alter Ego
 Doctrine of Attribution
 Collective Blindness Doctrine
 Willful Blindness Doctrine
Firestone Tyre and Rubber Co. Ltd. v Lewellin (Inspector of Taxes), CA, [1956] 1 W.L.R.
352
Firestone Tyre and Rubber Co. Ltd. v Lewellin (Inspector of Taxes), HL, [1957] 1 W.L.R.
464
Scottish Cooperative Wholesale Society v Meyer, (1959) A.C. 324 (H.L.)
Bank of Tokyo Ltd. v Karoon and Another, (1987) A.C. 45
Adams v Cape Industries Plc, [1991] 1 All E.R. 929
Estate Officer UT Chandigarh v. Esys Information Technologies Limited [2016] 136 SCL
513
TVS Employees Federation v TVS & Sons Ltd, 1996 87 Comp Cases 37 Mad; 2
Indowind Energy Ltd v Wescare (I) Ltd., AIR 2010 SC 1793
Bermuda Cablevision Ltd and Others v Colica Trust Co Ltd, [1998] AC 198 
A.K. Khosla v. T.S. Venkatesan, (1992) Cr. L.J. 1448
M.V. Javali v. Mahajan Borewell and Co. and Others (1997) 8 SCC 72
Kalpanath Rai v. State, (1997) 8 S.C.C 732
Zee Telefilms Ltd. v. Sahara India Co. Corp. Ltd., (2001) 1 Cal.L. T 262 HC
Standard Chartered Bank & Ors v. Directorate of Enforcement & Ors AIR 2005 SC 2622
Iridium India Telecom Limited v Motorola Incorporated & others, (2011) 1 SCC 74
Aneeta Hada and others v Godfather Travels and Tours Pvt. Ltd., (2012) 5 SCC 661
In Re: M.K. Srinivasan v Unknown, AIR 1944 Mad 410;
V Mohan Rao v M Kishan Rao, AIR 2002 SC 2653;
Lennard’s Carrying Co Ltd v Asiatic Petroleum Co Ltd., 1915 AC 705 H L Bolten
Engineering Co Ltd v T J Graham & Sons Ltd., (1957) 1 QB 159
R v I.C.R. Haulage Ltd, [1944] K.B.551, C.A
R v P & O European Ferries (Dover) Ltd., (1990) 93 Cr App R 72
Director of Public Prosecutions v Kent and Sussex Contractors Ltd., (1994) K.B. 146
Tesco Supermarkets Ltd. v Natrass., (1971) 2 All ER 127 HL
Tesco Stores Ltd v Brent London Borough Council., [1993] 2 All ER 718
R v Cotswold Geotechnical (Holdings) Ltd., [2011] All ER (D) 100 (May)
R. v Philippou, (1989) 5 B.C.C. 665
DPP v Gomez  [1993] A.C. 442
New York Central & Hudson River Railroad v. U.S, 212 U.S. 481
UNIT 2
INCORPORATION OF COMPANIES
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2.1 Formation and registration of companies –
MCA 21- E filing of documents for the
company
(SS. 3 & 7)
2.2 MEMORANDUM OF ASSOCIATION – Name,
Registered Office, Objects, Capital and
Liability. Doctrine of ultra-virus. Section 4 – 6;
SS 12 – 22
2.3 ARTICLES OF ASSOCIATION and additional
documents required for incorporation SS 4-6
2.4 Certificate of Incorporation - Commencement
of Business. The Doctrine of Constructive
Notice - Doctrine of Indoor Management –
Exceptions – Validity of the Doctrine
Muluk Mohamed v Capital Stock Exchange Kerala Ltd, (1991) 72 Com. Cases 333 (Ker) 2
R v Registrar of Companies, ex parte Attorney General, (1980) (1991) BCLC 476;
Peels Case, (1867) 2 Ch. App 674
Moosa Goolam Ariff v E j `brahim Goolam Ariff (1912) 14 Bom.L.R. 1211
Workmen Employed in Associated ... v Associated Rubber Industry Ltd., AIR 1986 SC 1
Kirloskar Proprietary Ltd v Kirloskar Dimensions (P) Ltd, AIR 1997 Kant 1, 1999 96
Comp. Cases 726 Kar
Pino Bisazza Glass P Ltd v Bisazza India Ltd, (2003) 1 GLR 528
In Re: Metal Box India Limited v Unknown, (2000) 2 Comp LJ 390 CLB;
In Re: Mackinnon Mackenzie & Co. v Unknown, 1967 37 Comp Cases, 516 Cal
Minerva Mills v Govt. of Maharashtra, (1975) 45 Com. Cases 1 (Bombay)
Documents of the Company
Ashbury Railway Carriage & Iron Co. Ltd v Riche, (1875) LR 7 HL 653. 3
Attorney General v Great Eastern Railway Co., (1880) 5 App Cas 473 (HL).
Cotman v Brougham, (1918) AC 514.
Ajay Kumar Gupta v Bhagyanagar Silk Mill (P) Ltd., (2013) 178 Comp Cas 135 (AP).
Bilsasrai Juharmal, Re., AIR 1962 Bom 133.
Lakshmanaswami Mudaliar (A) v LIC of India, AIR 1963 SC 1185.
Evans v Brunner Mond & Co. Ltd., (1921) 1 Ch 359.
Simmonds v Heffer, (1983) BCLC 298 (Ch D).
Ferrom Electronics (P) Ltd. v Vijaya Leasing Ltd., (2002) 109 Comp Cas 467 (Kant.)
Trevor v Whitworth, (1887) 12 App Cas 409 (HL).
In Re David Payne & Co., Ltd, [1904] 2 Ch. 608.
In Re, Introductions, [1970] Ch 199 CA.
Re German Date Coffee Co., [1882] 20 Ch 169.
Bell Houses Ltd v City Wall Properties Ltd, [1966] 2 All ER 674.
Rolled Steel Products (Holdings) Ltd. v British Steel Corporation, (1985) 3 All ER 52.
Matrubhumi Ltd v Vardhaman Publishers Ltd., (1992) 73 Comp Cas 80 Ker. 2
K G Khosla v R C Kirloskar, 2001 103 Comp Cas 984 Delhi.
Royal British Bank v Turquand, (1856) 6 E1 & B1 327. 3
Morris v Kanssen, (1946) 1 All ER 586.
Freeman and Lockyer v Buckhurst Park Properties (Mangal) Ltd., [1964] 2 QB 480
Hely Hutchinson v Brayhead Ltd, (1968) 1 QB 549;
Houghton & Co v Nothard Lowe & Wills Ltd, [1927] 1 KB 246 (CA) 81
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2.5 Binding Nature of MOA & AOA; Alteration of
Memorandum and Articles of Association and
implication and limitations on power of
alteration
(SS 10, 13 & 14)
2.6 PROMOTERS - Meaning and importance,
Position, Duties, Rights, Responsibilities and
Liabilities.
Pre-incorporation contracts - SS. 15 & 19,
Specific Relief Act, 1963
2.7 TYPES OF COMPANIES
 Public & Private
 Registered & Unregistered
 Not for Profit Companies (S. 8)
 Chapter XXII Companies Incorporated
Outside India (Foreign Company) – SS –
379 – 393
 Chapter XXIII - Government Companies –
SS – 394 – 395
Anand Bihari Lal v Dinshaw & Co., (1946) 48 BOM LR 293;
Dehra Dun Mussoorie Electric Tramway Co. Ltd. v Jagmandar Das, [1931] 1 Comp Cas
227;
T. R. Pratt (Bombay) Ltd. v. E. D. Sassoon and Co. Ltd., [1936] 6 Comp Cas 90;
Lakshmi Rattan Cotton Mills v J K Jute Co., AIR 1957 All 311
British Thomson – Houston Co. Ltd v Federated European Bank Ltd., (1932) 2 KB 176
Kreditbank Cassel GmbH v Schenkers Ltd, (1927) 1 KB 826
Rama corporation Ltd v Proved Tin and General Investments Ltd, (1952) 1 All ER 554
Hill Properties Ltd. v Union Bank of India, (2014) 1 SCC 635 2
Borlands Trustee v Steel Brothers & Co., [1901] 1 Ch 279;
Wood v Odessa Waterworks Co., [1880] 42 Ch. 636;
Browne v La Trinidad, (1887) 37 Ch.D 636
Eley v Positive Govt. Security Life Assurance Co., [1876] 1 Ex D 88.
Hickman v Kent or Romney Marsh Sheep-Breeders’ Association [1915] 1 Ch 881
Rayfields v Hands, [1960] Ch 1; (1958) 2 All ER 194
Claude-Lila Parulekar v Sakal Papers Pvt. Ltd. and Ors., (2005) 11 SCC 73
L. Chandramurthy v Pearl Metal Products Pvt. Ltd. and Ors., [2009] 149 Comp. Cases
291(CLB)
AIDQUA Holdings (Mauritius) Inc. v Tamil Nadu Water Investment Co. Ltd., (2014) 4 MLJ
429
World Phone India (P) Ltd. v WPI Group Inc, (2013) 178 Comp Cas 173 (Del)
Erlanger v New Sombrero Phosphate Co, (1878) 3 App Cas 1218; 1
Gluckstein v Barnes, (1900) AC 240;
Kelner v Baxter (1866) LR 2 CP 174
Jai Narain Parasrampuria v Pushpa Devi Saraf, (2006) 7 SCC 756
Vodafone International Holdings B.V. v. Union of India & Anr., (2012) 6 SCC 613 2
SAIL v Shri Ambica Mills Ltd. (1998) 1 SCC 465
STC v CTO, AIR 1963 SC 1811
Heavy Engg. Mazdoor Union v State of Bihar, (1969) 1 SCC 765
Tata Engineering & Locomotive Co Ltd v State of Bihar, (1964) 34 Comp Cas 458 (SC)
Som Prakash Reki v Union of India, (1981) 1 SCC 449
Bennet Colman and Co. v UOI, AIR 1973 SC 106, 1973 SCR (2) 757;
Rustom Cavasjee Cooper v Union of India, AIR 1970 SC 564;
BALCO Employees Union v Union of India, (2002) 2 SCC 333
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  Holding and Subsidiary; Amar Alcohol Ltd. v SICOM Ltd. (2006) 1 SCC 199
 Single shareholder companies / One Kapila Hingorani v State of Bihar, (2003) 6 SCC 1
Person Company GD Zalani v Union of India, (1995) 84 Comp Cas 40 (SC)
 Limited Liability Partnership TELCO Ltd. v State of Bihar, (1964) 34 Comp Cas 458 (SC)
 Producer Companies LIC v Escorts Ltd., (1986) 1 SCC 264;
N C Bakshi v Union of India, (2013) 178 Comp. Cas. 289 (Sec. 8, Co.)
PJ Johnson v Astrofiel Armadorn, (1989) 3 Comp L J 5, 10 (Ker)
Pratap Singh v Bank of America, (1976) 46 Comp Cas 532 (Bom)
FR Paymaster v British Burmah Petroleum Co Ltd., (1976) 46 Comp Cas 587 (Bom).
UNIT 3
FINANCIAL STRUCTURE AND MEMBERSHIP
SS. 43 – 71
3.1 Capital of the company - Sources of capital - K Madhava Nayak v Popular Bank Ltd., (1969) 39 Comp Cas 717 4
Types of shares – Equity, Equity with CIT v Standard Vaccum Oil Co., AIR 1966 SC 1393
differential rights and Preferential Shares Hariprasad v Amalgamated Commercial Traders, (1964) 1 Comp LJ 339
Issue of shares at par, premium and discount; Dovey v Cory, 1901 AC 477
bonus issues, rights issues, issue of sweat Lee v Neuchatel Asphalt Co., (1899) LR 41 Ch D 1; (1886-90) All E R Rep. 947
equity shares, Employee Stock Option Surana Steels (P) Ltd. v CIT, (1999) 4 SCC 306
Scheme (ESOS) & Employee Stock Purchase Vazir Sultan Tobacco Co. v CIT, (1981) 4 SCC 435
Scheme (ESPS) – SEBI Regulations and CIT v Express Newspaper Ltd, (1998) 3 SCC 106
Guidelines; HV Jayaram v ICICI Ltd., (2000) 2 SCC 202
Declaration & Payment of Dividend – Rule in SOL Pharmaceuticals Ltd. v ROC, (2002) 111 Comp Cas 845 (AP)
Lee v Neuchatel Dimbula Valley (Ceylon) Tea C. Ltd. v Laurie, (1961) 1 Ch 353; (1961) 1 All ER 650
Compulsory Reserves (SS – 122 – 127) Shri Gopal Paper Mills Co. Ltd. v CIT, (1970) 2 SCC 80.
Hunsur Plywood Works Ltd. v CIT, (1998) 1 SCC 355.
Standard Chartered Bank v Custodian, (2000) 6 SCC 427.
Khoday Distilleries Ltd. v CIT, (2009) 1 SCC 256.
Chandrakant Mulraj v TELCO, (1985) 58 Comp Cas 320 (Bom.).
3.2 ALTERATION OF SHARE CAPITAL –Increase 3
and reduction of share capital – Further Issue
of Shares (Right Issue)
Buy-back of Shares - Procedure and practice
for buy-back of shares covering Government
and SEBI Guidelines (SS 61 – 70)

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3.3 DEBT CAPITAL - debentures, debenture
stock, bonds- new developments in corporate
debt financing; Debenture Trust Deed and
trustees - conversion of and redemption of
Debentures - creation of charges – fixed and
floating charge –
Registration of charges (SS. 77-87)
SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009
4.1 Public offer and private placement
Matters to be stated in prospectus.
Abridged prospectus- statement in lieu of
prospectus - Shelf Prospectus (S. 31) - Red
herring
Prospectus (S. 32) registration, Standard Chartered Bank v Pakistan National Shipping Corporation, [2002] UKHL 43
misrepresentations – civil and criminal Derry v Peek, (1889) LR 14 App Cas 337
liabilities (SS. 34 -35)
Allotment of Securities (S. 39)
Shri Gopal Jalan & Co v Calcutta Stock Exchange Assn, AIR 1964 SC 250 4
Narendra Kumar Maheshwari v Union of India, AIR 1989 SC 2138; 1990, Supp SCC 440
Chief Controlling Revenue Authority v State Bank of Mysore, AIR 1988 Kant. 1
State of AP v Rajah Ram Janardhana, AIR 1966 AP 233
Raymond Synthetics Ltd. and Ors. v Union of India and Ors., (1992) 2 SCC 255
Rishyashringa Jewellers Ltd v Stock Exchange, Bombay, (1995) SCC 6 714
Union of India v Allied International Products Ltd., (1970) 3 SCC 594
Government Stocks and Other Securities Investment Co Ltd v Manila Rly Co,  [1897] AC
81
National Westminster bank plc v Spectrum Plus Ltd and others, [2005] UKHL 41
Illingworth v Houldsworth, [1904] AC 355
In Re, Yorkshire Woolcombers Association, [1903] 2 Ch 284
In Re, Panama, New Zealand and Australian Royal Mail Co, (1870) 5 Ch App 318
Calcutta Tramways Co. Ltd. v CWT, (1973) 3 SCC 35
Rai Bahadur Seth Jessa Ram Fatehchand v Om Narain Tankha and Another, AIR 1967
SC 1162
Aluminium Industries Vaasem BV v Romalpa Aluminium Ltd., [1976] 2 All ER 552
Nelson & Co. v Faber & Co., [1903] 2 KB 367;
Evans v Rival Granite Quarries Ltd., [1910] 2 KB 979;
N W Robbie & Co v Witney Warehouse Co., [1963] 3 All ER 613
AP SFC v Mopeds India Ltd., (2005) 133 Comp Cas 833 (AP)
Rajasthan Fin. Corp. v Jaipur Spg. & Wvg. Mills Ltd. (2005) 13 SCC 765
Kerala State Financial Enterprises Ltd. v OL, (2006) 10 SCC 709
UNIT 4
PROSPECTUS (SS. 23 – 43)
Mukesh Malhotra v SEBI, (2005) 124 Comp Cas 336 (SAT) 4
Maxwell Dyes and Chemicals (P) Ltd v Kothari Industrial Corporation Ltd., 1996 85 Comp
Cas 111 Mad
New Brunswick and Canada Rly and Land Co v Muggeridge, (1860) 1 Dr. & Sm. 363;
Henderson v Lacon, 1867 LR 5 Eq. 249;
Peek v Gurney, (1873) LR 6 HL 377
Edington v Fitzmaurice, (1885) 29 Ch D 459;
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 Securities to be Dealt in Stock Exchanges (S. Parr v Diamond; Possfund Custodian Trustee Ltd v Diamond, (1996) 1 WLR 1351
40) R v Kylsant (Lord), [1932] 1KB 442
Private placement (S. 42) Mckeown v Boudard Peveril Gear Co Ltd., (1896) 65 LJ Ch 735, CA)
Certificates - contracts to subscribe for shares, Ritesh Agarwal and Anr. v SEBI and Ors, (2008) 8 SCC 205 (Minors liability for
debentures and other Securities- letters of misrepresentation)
allotment and renunciation- calls and T.G. Venkatesh v ROC, (2007) 78 SCL 1 AP
forfeitures- share certificates and shares DLF Case, SEBI, Order dt. 10th Oct, 2014
warrants. Sahara India Real Estate Corporation Limited & Ors v SEBI & Anr, (2013) 1 SCC 1
4.2 SEBI (Issue of Capital & Disclosure 2
Requirements) Regulations, 2009, - Detailed
procedure for issue of various types of
Securities (Shares and debentures)
Prospectus requirement and Book Building
Process
Acceptance of Deposits by Companies (SS. 73
-76)
4.3 Membership - modes of acquiring membership Gammon India Ltd. v Hongkong Bank Agency (P) Ltd., (1992) 74 Comp Cas 123 2
- Restriction on membership - Rights and V B Rangaraj v V B Gopalakrishnan, AIR 1992 SC 453
Privileges of members - Transfer and John Tinson & Co. (P) Ltd. v Surjeet Malhan, (1997) 9 SCC 651
transmission of securities – Pre-emptive Bajaj Auto Ltd. v N K Firodia, (1970) 2 SCC 550
Clause and Transfer; Physical and Depository Bajaj Tempo Ltd. v UTI, (1992) 73 Comp Cas 451 (CLB)
Modes – Depositories Act, 1996 – Listed and
Unlisted Shares
Mortgage & Pledge of Shares – Lien on
Shares
UNIT 5
MANAGEMENT AND ADMINISTRATION OF COMPANIES
SS. 88 – 121 -
Chapter XI - SS 149 – 172; Chapter XII - SS 173 – 195; Chapter XIII – SS 196 – 205
5.1 Directors – Management – Berle - Dodd Ram Chand & Sons Sugar Mills (P) Ltd. v Kanhayalal Bhargava, AIR 1966 SC 1899 1
Debate Ramaswamy Iyer v Brahamayya & Co. (1966) 1 Comp LJ 107
Director as – Agent – Trustee - Employee Nandlal Zaveri v Bombay Life Assurance Co. Ltd. AIR 1950 SC 172
Chiranjit Lal Chowdhury v Union of India, AIR 1951 SC 41
5.2 Appointment / Re-Appointment of Directors, OL, Supreme Bank Ltd. v P. A. Tendolkar, AIR 1973 SC 1104 4
Additional & Alternative Directors Karnataka Bank Ltd v A B Datar, 1994 79 Comp. Cas 417 Kar;

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 Qualifications, Disqualifications,
Prakash Roadlines v Vijay Kumar and Narang, 1995 84 Comp. Cas 782 Kar;
Remuneration, Vacation of office, Retirement, Peso Silver Mines Ltd v Cropper, [1966] S.C.R. 673;
Resignation and Removal; Industrial Development Consultants Ltd v Cooley, [1972] 1 WLR 443;
Powers (SS.179-180) and Duties (S. 166) Hunter Kane Ltd v Watkins, [2003] EWHC 186 (Ch)
Power to Make Political Contributions (S. 182) Canadian Aero Service Ltd v O Malley, (1973) 40 DLR (3d) 371;
Remuneration of Directors - Office or Place of Regal Hastings Ltd v Gulliver, [1942] 1 All ER 378
Profit; Dweck v Nasser, C.A. No. 1353-VCL (Del. Ch. Jan. 18, 2012)
Corporate Opportunities – Corporate Dorchesster Finance Co Ltd v Stebbings, [1989] BCLC 498
Espionage Kishor Kundan Sippy v Samrat Shipping, [2004] 118 Comp Cas 472 (CLB) on Appeal
Loans to Directors See [2004] 120 Comp Cas 681 (Bom)  & (2006) 6 Comp LJ 74 (Bom);
Related Party Transaction. BN Viswanathan v Tiffins Baryl Asbestos (P)Ltd., AIR 1953 Mad. 520
N. Narayanan v SEBI, (2013) 12 SCC 152
JK Industries v Chief Inspector of Factories, (1996) 6 SCC 665
Rama Narang v Ramesh Narang, (1995) 2 SCC 513
5.3 Appointment, Role and Liability of Independent Case Study of Satyam Computers Ltd. 2
and Nominee Directors Girni Kamgar Sangharsh Samiti v Matulaya Mills Ltd., 2002 Cri LJ 253 (Bom.)
SK Sharma and A K Mahajan v Registrar of Companies, (2005) 126 Comp Cas 222
(P&H)
J Sethuraman v IAC of IT, (1992) 74 Comp Cas 815 (Mad).
5.4 Meetings of directors and committees - 2
frequency, convening and proceedings of
Board /Committee meetings, minutes and
evidence
5.5 Managing and Whole-Time Directors,; UNICCO Trading and Chit Funds (India) Pvt. Ltd. v Zahoor Hassan, (1991) 71 Comp Cas 1
Manager, Company Secretary – Appointment, 270 (Kant.)
Reappointment, Powers and Duties Briji Gopal Doga v State of Kerala, (2013) 181 Comp Cas 320 (Ker)
National Small Industries Corp. Ltd. v Harmeet Singh Paintal, (2010) 3 SCC 330.
State (NCT of Delhi) v Rajiv Khurana, (2010) 11 SCC 496.
State Bank of Travancore v Kingston Computer (India) (P) Ltd., (2011) 11 SCC 524
ESI Corp. v Apex Engg. (P) Ltd., (1998) 1 SCC 86
Ram Pershad v CIT, (1972) 2 SCC 696
5.6 Shareholders Meeting – Claude-Lila Parulekar v Sakal Papers (P) Ltd., (2005) 11 SCC 73 3
General meetings - kinds of meetings – Annual Sunil Mills Ltd. v Official Liquidator of Shri Amibca Mills Ltd. (1999) 1 Com LJ 423 (Guj).
General and Extra-Ordinary General Meeting
Resolutions – Ordinary & Special Resolution;

10
 Law, practice and procedure relating to
convening and proceedings at meetings;
Notice of the Meeting
Quorum for the Meeting
Voting – by Show of hands and poll
Proxies
Recording and signing of minutes;
Role of chairman; Postal ballot &
teleconferencing;
Distribution of powers of a company - Division
of powers between Board and general
meetings; Acts by directors in excess of
authority; monitoring and management
Shareholder Education & Investor Protection
Fund
5.6 Accounts of Companies - Financial statement 2
– Constitution of National Financial Reporting
Authority – CSR
Audit & Appointment of auditors - Eligibility,
qualifications & disqualifications of auditors.
Powers & duties of auditors & auditing
standards (SS. 129 – 148)
5.7 Corporate Governance: 3
Cadbury, Greenbury & Henkel Committee
(UK);
Kumaramangalam Birla and Narayana Murthy
Committee Report on Corporate Governance;
SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 & Corporate
Governance
Corporate Social Responsibility (S. 135) –
Protection of Whistle Blower.
5.8 Shareholders’ Democracy: Foss & Edward Starkie Turton v Harbottle (1843) 2 Hare 461 4
Rule in Foss v Harbottle – Majority Rule v Mac Daugall v Gardiner (1875) 1 Ch D 13, 25
Minority Rights – Exceptions to majority rule - Burland v Earle, [1902] AC 83

11
 Protection of shareholders – Concept of Cook v Deeks, [1916] 1 AC 554
Oppression and Mismanagement (SS – 241- Menier v Hooper’s Telegraph Works Ltd., (1874) 9 Ch App 350;
246) Changing Profile of Corporate Ownership. Rajahmundry Electric Supply Corporation Ltd. v. A. Nageshwara Rao and Others, AIR
(1956) SC 213
Elder v. Elder and Watson, (1952) S.C. 49
Scottish Co-operative Wholesale Society Ltd. v. Meyer
(1958) 3 All E.R. 66
Bajaj Auto Ltd v N. K. Firodia & Anr. Etc, AIR 1971 SC 321
LIC v Escorts;
Naresh Chandra Sanyal v Calcutta Stock Exchange Assn Ltd., AIR 1971 SC 422;
Nanalal Zaveri v Bombay Life Assurance Co., AIR 1950 SC 172
S. P. Jain v Kalinga Tubes Ltd, AIR 1965 SC 1535
Needle Industries (India) Pvt. Ltd. v. Needle Industries New (India) Holding Ltd ., AIR
1981 SC 1298
In re Five Minute Car Wash Service Ltd. (1966) 1 W.L.R. 745
M.S. Madhusoodhanan & Anr. vs. Kerala Kaumudi (P) Ltd. & Ors., (2004) 9 SCC 204
Sangramsinh P. Gaekwad vs. Shantadevi P. Gaekwad 2005 (11) SCC 314
Dale and Carrington Investment P Ltd v Prathappan, (2005) 1 SCC 212]
Pearson Education Inc. v Prentice Hall India (P) Ltd. and Ors. (134 (2006) DLT 450)
V.S. Krishnan & Ors vs M/S Westfort Hi-Tech Hospital, Appeal (civil) 1473 of 2008,
Supreme Court
Incable Net (Andhra) Limited and Others vs. AP Aksh Broadband Limited and
Others (2010) 6 SCC 719
UNIT 6
National Company Law Tribunal and Appellate Tribunal - Chapter XXVII – SS 407 – 434
Special Courts - Chapter XXVIII – SS – 435 - 446
Investigations of Companies - Chapter XIV – 206 – 229
6.1 Establishment of National Company Law Union of India v R. Gandhi, C.A. No.3067 of 2004 and C.A. No.3717 of 2005, dt. 11 th May 2
Tribunal 2010
6.2 Jurisdiction, functions and power of the NCLT

6.3 Establishment of Special Courts

6.4 Investigations of Companies: Investigation – Establishment of Serious Fraud Investigation Office (SFIO) (s. 211)
Powers of the Central Government.

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 UNIT 7
Winding Up of Companies - Chapter XX – SS- 270 - 365
7.1 Winding Up, Liquidation & Dissolution of Pawan Kumar K v Kaushal Leather Board Ltd., (1996) 87 CC 130 (AP) 3
Companies Hariprasad v Amalgamated commercial Trans Pvt. Ltd., (1964) 1 CLJ 339 Mad. (DB)
Defunct Companies; National Textile Workers Union v Ramakrishnan, (1983) 54 CC 184 (SC))
Modes of Winding Up Lord Krishna Bank Ltd. v Express (Malayalam), (2005) 125 CC 655 (Ker)
(a) Compulsory Winding Up – Winding up under Kudremukh Iron Ore Co. Ltd v Kooky Roadways P Ltd., (1990) 69 CC 178 (Karn) (DB)
Just & Equitable Clause Rhein Chemie Rheinau Gmbh v. Standard Oil Additive P. Ltd., (2005) 128 Comp Cas 13
Mediqup Systems P Ltd v Proxima Medical System GmbH, (2005) 124 Comp Cas 473
Tata Iron & Steel Co. Ltd v Micro Forge (India) Ltd., (2001) 104 CC 533 Guj.
ICICI v Vanjinad Leather Ltd., ((1998) 91 CC 625 Ker, (Recovery Under Debt Tribunal)
7.2 Official Liquidator – Role, Powers & Functions 2

7.3 Preferential payments – Workmen’s Rights and Jitendra Nath Singh v OL, CIVIL APPEAL NO.6755 OF 2012, 21 September, 2012
Payments during Winding up - Insolvency and Allahabad Bank v Canara Bank, (2000) 4 SCC 406
Winding Up Andhra Bank v OL, (2005) 5 SCC 75
7.4 Final meeting of shareholders and Dissolution
of Company

NOTE: THE FOLLOWING TOPICS SHALL BE COVERED UNDER CORPORATE LAW II – SEMESTER VIII:
a. Chapter XV - Merger’s, Amalgamation, Demerger etc. (SS 230 – 240) and Acquisitions (Takeover) of Companies
b. SEBI Act, 1992 And Related Regulations (Takeover Code; Prohibition of Insider Trading and Prohibition of Fraudulent and Manipulation of
Securities Market Regulations)
c. SCRA – Stock Exchanges – Functions – Credit Rating Agencies
d. Chapter XIX - Revival and Rehabilitation of Sick Companies (SS – 253 – 269)
e. Insolvency & Bankruptcy Code, 2016

Sl. No. List of Books for Reference Remarks

1) Palmer’s “Company Law” Reference

2) Buckley on Company Law Reference

3) Pennington on Company Law; Reference
4) Ghosh and Chandratre – Company Law Reference
5) Ramaiyya – Company Law Reference
6) Bhandari- Company Practice and Procedures; Reference

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7) Gower- Company Law Student Edition
8) Company Law by Mayson, Ryan & Young Student Edition
9) Company Law by Dr. Avtar Singh Student Edition

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