DOCTRINE OF INDOOR MANAGEMENT
This doctrine states about the right of presumption available to an outsider dealing with the company. The doctrine of indoor management, also known as the
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ADJUDICATORY BODY (MADRAS B A vs UOI)
HIERARCHY OF ADJUDICATION 3. SUPREME COURT 2. NATIONAL COMPANY LAW APPELLATE TRIBUNAL 1. NATIONAL COMPANY LAW TRIBUNAL There are two adjudicatory bodies under companies act,
WINDING UP OF COMPANY
Winding up (or liquidation) is the process by which a company’s assets are collected and sold to pay off its debts. Any monies remaining after
PREVENTION OF OPPRESSION & MANAGEMENT
The term “oppression” means taking away legal right of members. Oppression is the act of authority or power in unjust manner against the consent of
BOARD OF DIRECTORS
What is Board of Directors? A board of directors (BoD) is the governing body of a corporation or other organization, whose members are elected by
LIFTING THE CORPORATE VEIL
What is corporate veil? The Corporate Veil Theory is a legal concept which separates the identity of the company from its members. Hence, the members
CORPORATE VEIL OR SEPARATE LEGAL ENTITY
What is Company? Company is an artificial person with entity separate from its members having perpetual succession and common seal with transferability of shares and
DOCTRINE OF ULTRA VIRES
The word “ultra” means beyond whereas the word “vires” means limits/powers/authority. Doctrine of ultra vires means the principle of acting beyond the specified limits, powers
ADVERSE POSSESSION / Acquisition of Ownership by Possession SECTION 25 – 27
Adverse possession means when a person holds property owned by any individual for an uninterrupted period for more than 12 years, they would become the
ACKNOWLEDGEMENT UNDER LIMITATION ACT
What is acknowledgement? Acknowledgement, in the legal context, is essentially a debtor’s formal recognition of existing liability. According to Black’s Law Dictionary, acknowledgement signifies “a recognition