What every student of Business Law should know about Companies Act 1956

1) Kinds of Companies, their characteristics (Chapters 35 & 36)2) Steps in Company formation (Chapter 37)3) Contents of Memorandum & Articles of association, distinction between

the two and mode of alteration. Doctrine of Ultra vires/ Constructive notice/Indoor management (Chapters 38 & 39)

4) Types, contents in Prospectus. Liabilities for misstatements(Chapter 40)

5) Share type, rules regarding a Co’s purchase of own shares. Procedure for increase/reduction of share capital, voting rights.

6) Membership, Rights/liabilities of members. Distinction between member/shareholder.(Chapter 42)

7) Procedure for share transfer & transmission of shares.(Chapter 43)8) Types of Company meetings, their periodicity and requisites. Voting.

(Chapter 44)9) Appointment/removal of Directors, their duties/liabilities, Powers of BOD.

Appointment of Managing Director & Company secretary. Duties of CS.(Chapter 45)

10) Dividend & rules regarding its payment. (Chapter 46)11) Statutory books of Accounts to be maintained. Rights/duties

appointment & removal of auditors. (Chapter 47)12) Borrowing powers & Ultra vires borrowing. (Chapter 48)13) Majority rule, its advantages & exceptions. Rights of

minority. (Chapter 49)14) Acts amounting to oppression mismanagement.

(Chapter 50)15) Appointment & powers of inspectors

(Chapter 51)16) Distinction between compromise/arrangement as well as

Amalgamation / reconstruction & its procedures.(Chapter 52)17) Winding up & its types. Contributories & their liability. (Chapter 53)18) Meaning, definition, objectives of Producer Companies.(Chapter 54)