Corporate Law - I
Hidayatullah National Law University · LL.B. Semester 5 · LLB-C-501
Unit I — INTRODUCTION TO CORPORATE LAW
Meaning of a company and Legal framework in India · Features and kinds of companies · Concept of Separate Legal Entity and Corporate Personality · Lifting or piercing of Corporate Veil · Definition and key terms: Officer in Default, KMP, etc.
Unit II — INCORPORATION AND INCIDENTAL MATTERS
Requirements with respect to formation of company · Role of Registrar and other authorities · Procedure and consequences of Incorporation · Formulation of companies with charitable objects · Promoters: position and responsibilities · Pre-incorporation Contract and its enforceability
Unit III — CHARTER DOCUMENTS
Forms and contents of Memorandum of Association · Doctrine of Ultra Vires and related cases · Doctrine of constructive notice and exceptions · Alteration of Memorandum of Association · Form and contents of Articles of Association · Doctrine of Indoor Management and exceptions · Alteration of Articles of Association · Company’s responsibility under MOA, AOA, and shareholders’ agreement
Unit IV — PROSPECTUS
Prospectus – Meaning, Issue, and Contents. · Kinds of Prospectus – Abridge prospectus, Shelf prospectus, Red-herring prospectus, Deemed prospectus · Misstatements in a prospectus, scope of the untrue statement · Liability of Misstatements in the prospectus
Unit V — COMPANY’S CAPITAL AND CORPORATE FINANCE
Meaning of shares, debentures, and securities · Kinds of Share Capital and nature of shares or debentures · Issue and allotment of securities · Further issue of securities: Private placement and public offer · Debenture trust deed and debenture trustee · Debenture redemption reserve · Issue of bonus shares and sweat equity shares · Transfer of shares: Restriction, Procedure, and consequences · Variation of shareholders’ rights