Today’s questions (share capital)
Q1. Aniket has fraudulently sold his shares to two different transferees. Who will be
entitled to the shares in priority?
Q2. A company has issued a prospectus to the public stating that the company has paid dividend regularly and the prospectus is silent relating to the sources of profits, i.e., whether trading profits or capital profits. The fact is that the company has incurred losses for all the last 5 years, but the dividend is paid out of realised capital profits (i.e.,
secret reserves), Y, a shareholder, claimed that the prospectus is false. Whether Y’S contention is correct? Discuss.
Q3. Public companies can issue ‘shelf prospectus’. Comment
Jo pehle Aaya (who claims 1st ) shares Uske
Prospectus me Kuch jutna (false info) nhi chaiye + Kuch chutna nhi chaiye (material info.)
Divided can’t be issued out of capital profit/ capital reserve
Shelf prospectus – 1 Baar issue kro or 1saal tak shelf pr Rakh do (i.e. no need to issue further prospectus for a year)
Sabhi k answers almost right the & please try to write in points