The question asks to identify the case related to the doctrine of indoor management.
Understanding the Doctrine of Indoor Management
The doctrine of indoor management, also known as Turquand's Rule, protects outsiders dealing with a company. It presumes that the company's internal affairs are conducted properly. Outsiders are generally not required to inquire into the company's internal proceedings or check if internal rules have been followed when dealing with the company's officers, provided the transaction appears to be within the company's powers (intra vires) and is signed by the appropriate officers.
Analysis of Legal Cases
Let's examine the significance of the mentioned cases:
- Ashbury Railway Carriage and Iron Co. Ltd. Vs. Riche: This case primarily deals with the doctrine of ultra vires, concerning the objects and powers of a company.
- Rama Corpn. Vs. Proved tin and General Investment Co.: This landmark case is strongly associated with the doctrine of indoor management. It affirmed that individuals dealing with a company can assume that internal procedures have been observed.
- London Country Council Vs. Attorney - General: This case relates to the powers and duties of local authorities and matters of public law, not specifically the doctrine of indoor management.
- A. Lakshmana swamy Mudaliar Vs. L.I.C.: This case likely pertains to matters involving the Life Insurance Corporation or specific contractual/property issues, not the core principle of indoor management.
Conclusion on Indoor Management Case
Based on established company law principles, the case of Rama Corpn. Vs. Proved tin and General Investment Co. is the one that deals with the doctrine of indoor management.
Important Questions from Company law
Arrange the following as per sections of the Companies Act, 2013 in descending order :
A. Execution of Bills of Exchange, etc.
B. Punishment in case of repeated default
C. Annual reports on Government Companies
D. Petition for winding up
E. Functions of Company Secretary
Choose the correct answer from the options given below:
Match List I with List - II.
List - I
List - II
(A)
Producer companies
(I)
Do not necessarily require Memorandum of Association
(B)
Statutory companies
(II)
Association not for profit
(C)
Section 8 company
(III)
Formed to convert cooperative into a company
(D)
Small company
(IV)
Paid up share capital is between 50 lakh-5 crore and turnover is between 2 crore - 20 crore
Choose the correct answer from the options given below:
Red herring prospectus is a prospectus issued:
- The problem of double taxation in international transactions can be reduced by:
i. Market agreement
ii. Multilateral agreement
iii. Bilateral agreement.
iv. Trade agreement - Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R
Assertion A: Every company having net worth of rupees five hundred crores or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee (CSRC).
Reason R: The CSR Committee monitors CSR policy of the company.
In the light of the above statements, choose the most appropriate answer from the options given below
