company law case studies with solutions pdf

• © 1988

Commercial Law

Case Studies in a Business Context

• Desmond Painter 0

Dorset Institute of Higher Education, UK

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Table of contents (6 chapters)

Front matter, introduction summary of case-study contents summary of legal topics, introduction.

Desmond Painter

Summary of Case-study Contents

Summary of legal topics.

• Case Studies

Introduction to the Notes

Notes on each case study.

• business law
• commercial law

Book Title : Commercial Law

Book Subtitle : Case Studies in a Business Context

Authors : Desmond Painter

DOI : https://doi.org/10.1007/978-1-349-09263-5

Publisher : Palgrave Macmillan London

eBook Packages : Palgrave Political & Intern. Studies Collection , Political Science and International Studies (R0)

Copyright Information : Desmond Painter 1988

Softcover ISBN : 978-0-333-43466-6 Published: 18 June 1988

eBook ISBN : 978-1-349-09263-5 Published: 18 June 1988

Edition Number : 1

Number of Pages : X, 154

Topics : Commercial Law , Business and Management, general

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Free Materials

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Investor Access to Private Investment

Hannah Valentine under the supervision of Howell Jackson

First National Bank of Ames Corporation

Share-Inn Economy: Student Materials

Emily M. Broad Leib, Jude Lee, Amy Hoover & Rachel Gordon

Share-Inn Economy: Teaching Note

Share-Inn Economy (C)

Emily M. Broad Leib, Jude Lee & Amy Hoover

Share-Inn Economy (A)

Robo Advising

Ryan Chan-Wei HLS LLM '19 under the supervision of Howell Jackson

Fintech Charter

Margaret Tahyar, Madison Roberts, and Carol Rodrigues of Davis Polk & Wardwell, with the assistance of Professor Howell E. Jackson

Strategic Options and Legal Risks for Elite ReFi, Inc.

Margaret Tahyar, Jai Massari, Madison Roberts, and Adam Fovent of Davis Polk & Wardwell, with the assistance of Professor Howell E. Jackson

Civilian Protection in Partnered Conflicts

Dustin A. Lewis, Naz K. Modirzadeh, C. Danae Paterson, Lisa Brem

OUR Walmart

Sharon Block, Lisa Brem, and Brittany Deitch

Worker Centers

Exercise on Alternative Strategies for Depository Institutions

Sanctuary Cities

Brittany Deitch and Lisa Brem, under the supervision of Sabrineh Ardalan

Wells Fargo Corporate Governance

Ed Stein under the supervision of Howell Jackson

Anti-Money Laundering and Blockchain Technology

Dylan M. Aluise under the supervision of Howell Jackson

The Future of Affiliate Transaction Restrictions for Banks and the Federal Reserve’s Emergency Intervention Authority

Margaret Tahyar and Howell Jackson

Closed-End Fund Regulation

Daniel Wertman under the Supervision of Howell Jackson

Unidentified Financial Institutions

Howell Jackson and Peter Tufano with assistance from Andrea Ryan

Asset Securitization, Marketplace Lending, and the Future After the Madden Decision

Consumer Financial Protection Bureau: Responding to the PHH Litigation

Ryan M. Johansen under the supervision of Howell Jackson

Wal-Mart and Banking

Joshua Cutler under the supervision of Howell Jackson

Lending Club: 2008

Anooshree Sinha and Corrine Snow under the supervision of Howell Jackson

Ames’ Auto Insurance Regulations — Racial Disparities in Insurance Premiums

Federal Preemption of State Consumer Protection Laws: The Office of the Comptroller of the Currency's Dodd-Frank Act Implementation Rules

Melanie Berdecia and Dylan Aluise under supervision of Howell Jackson

The OCC’s FinTech Charter: Testing the Scope of the OCC’s Chartering Powers

Lotus v. Borland: A Case Study in Software Copyright

Ben Sobel, under the supervision of Jonathan Zittrain

The Color of Police Action in these United States

Saptarishi Bandopadhyay, under supervision of Charles R. Nesson

The Decriminalization of Marijuana in Jamaica: A Key Step toward International Legalization?

Thinking Big: Bringing Big Sport's Energy and Innovation to Education

Elizabeth Moroney, under supervision of Charles R. Nesson

The Snowden Effect

Anastasia Tolu, under supervision of Charles R. Nesson

The Art of Deliberation

Algorithmic Allegories (version 1.0)

Marcus Comiter, Ben Sobel, and Jonathan Zittrain

Somalia in Crisis: Famine, Counterterrorism, & Humanitarian Aid | Part B2: The NGO General Counsel Dilemma

Naz K. Modirzadeh, Dustin A. Lewis, and Molly R. Gray, with Lisa Brem

Somalia in Crisis: Famine, Counterterrorism, & Humanitarian Aid | Part B1: The National Security Council Dilemma

Somalia in Crisis: Famine, Counterterrorism, & Humanitarian Aid | Part A: General Background Document

What’s Fair about Fair Use? The Battle over E-Reserves at GSU (B)

Elizabeth Moroney, under the supervision of Kyle Courtney and William Fisher

Prosecutorial Discretion in Charging and Plea Bargaining: The Aaron Swartz Case (B)

Elizabeth Moroney, under the supervision of Adriaan Lanni and Carol Steiker

What’s Fair about Fair Use? The Battle over E-Reserves at GSU (A)

The Battle for Unocal

Holger Spamann, Amanda Ravich, and Lisa Brem

Prosecutorial Discretion in Charging and Plea Bargaining: The Aaron Swartz Case (A)

Elizabeth Moroney, under supervision of Adriaan Lanni and Carol Steiker

Sue the Consumer: Digital Copyright in the New Millennium

Charles Nesson and Sarah Jeong

MOOCs and Consequences for the Future of Education

Jeffrey R. Young and Charles Nesson

In the Stadium and in the Street: The Brazil Soccer Riots

Cost-Benefit Analysis at the Consumer Financial Protection Bureau

Howell Jackson and Kelley O'Mara

Ching Pow: Far East Yardies!!

Charles Nesson and Saptarishi Bandopadhyay

From Sony to SOPA: The Technology-Content Divide

John Palfrey, Jonathan Zittrain, Kendra Albert, and Lisa Brem

Game Changers: Mobile Gaming Apps and Data Privacy

Susan Crawford, Jonathan Zittrain and Lisa Brem

The Smart Grid

Sonia McNeil, with Paul Kominers, J. Palfrey and J. Zittrain

The WikiLeaks Incident: Background, Details, and Resources

Alan Ezekiel, under supervision of John Palfrey and Jonathan Zittrain

Drafting an IP Strategy at MNC (C): New Puzzles

John Palfrey and Lisa Brem

Drafting an IP Strategy at MNC (B): Getting Started

Drafting an IP Strategy at MNC (A)

How to Approach a Case Study in a Problem Solving Workshop

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The Ultimate CS Executive Company Law Case Study Collection with Solutions by CS Midhas Purohit

The Ultimate Collection of CS Executive Company Law Case Study based Questions with Solutions. A comprehensive collection of 100 case study based questions and suggested answers. Prepared by India’s best Teacher for Company Law CS Midhas Purohit.

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100 Company Law Case Study Questions with Solutions for CS Executive. Just for INR 299. Order Your Copy Now.

This Q&A Compiler is applicable for upcoming 2022 attempt of CS Executive conducted by ICSI

The Ultimate Collection of CS Executive Company Law Case Study with Solutions. A comprehensive collection of 100 case study questions and suggested answers. Prepared by India’s best Teacher for Company Law CS Midhas Purohit.

This book is published by Pareeksha Knowledge Hub Publication

Topics covered in this amazing Q&A Collection

• Share and Share Capital
• Members and Shareholders
• An overview of Inter-Corporate Loans Investments, Guarantees and Security Related Party Transactions
• Distribution of profits – Dividend
• Accounts, Audit and Auditors
• An overview of Corporate Reorganization
• Board Constitution and its Powers
• Appointment and Remuneration of Key Managerial Personnel
• Board Constitution and its Powers, Appointment and Remuneration of Key Managerial Personnel, Meetings of Boards and its Committees
• Meetings of Boards and its Committees
• Debt Capital and Deposits
• Legal Framework Governing Company Secretaries
• Distribution of Profits-Dividends
• Miscellaneous
• Distribution of Profits- Dividends
• Meetings of Board and its Committees
• General Meetings
• An Overview of Corporate Reorganization, General Meetings
• Secretarial Standards Board
• Transparency and Disclosures, Directors
• Introduction to Company Law
• Registers and Records, Transparency and Disclosures
• Debt Capital and Deposits & Accounts, Audit and Auditors
• Distribution of Profits- Dividend
• Meetings of the Board and its Committees
• An overview of Inter-Corporate Loans, Investments, Guarantees and Security, Related Party Transactions
• Corporate Social Responsibility

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Teaching and Research guides

Case studies.

• Introduction
• Key tips for searching

Harvard Business School case studies

Other sources for business case studies, case studies journals, legal case studies.

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• Open case studies
• Further help

The Harvard Business School has produced many business case studies. Many, but not all case studies are published in the Harvard Business Review . Case studies published in the HBR are findable by title in LibrarySearch or via the EBSCOhost Business Source Complete database using the link below:

• Harvard business review

Select "Search within this publication" at the top left.  Then add your keywords and select Document type to be Case study.

Harvard Business School case studies may appear on the HBR website, hbr.org , but not be published in the Review itself. These cases are  not findable in LibrarySearch. In this situation, a case may be located by searching within the Harvard Business Review Digital Articles database, at the link below:

• Harvard Business Review Digital Articles Collection of articles hosted in EBSCOhost from the Harvard Business Review website, HBR.org

When linking to a case study that is an HBR digital article, link to the copy found in Harvard Business Review Digital Articles on EBSCOHost. Do not link to a case on hbr.org , since access limits will cause users to encounter a paywall. If case studies or other material from the Harvard Business School are not available via either of the databases mentioned above, please contact our Teaching Support Services .

• Business Source Complete (EBSCO) Aside from case studies within the Harvard Business Review, the Business Source Complete database within EBSCO contains case studies from other sources. They can be found using advanced search and selecting "case study" as the document type.
• SAGE Knowledge Within SAGE Knowledge is SAGE Business Cases, a set of business case collections divided by business discipline and geographic region.
• Emerald Insight An extensive business research database. Click on advanced search and then select the case studies checkbox.
• MarketLine Select "Analysis" from the menu bar, and select Case studies. Both Industry and Company cases can be found.
• WARC: World Advertising Research Center From the menu bar, select Advanced Search. Then beside "Select sources" check the Case studies box.
• Factiva Use "case study" or "case studies" as terms when building your search. There is no option to limit to case studies as a resource type.
• Passport Passport provides geographically discrete reports and analysis on companies and industries. These reports are not case studies, but provide context and data background which may enrich understanding of cases found elsewhere.
• Henry Stewart Talks Business & Management Collection HSTalks provides access to world class lectures and case studies by leading experts from commerce, industry, the professions and academia, in one online resource - accessible wherever, whenever and as often as is wanted.
• Business Collection (Informit) Search by topic and then narrow to Case Studies using Identifier selection in right side menu.

Note : some databases provide Teaching Notes to accompany case studies. These materials are usually restricted to teaching staff. If you have a teaching role at RMIT, and would like access to the Teaching Notes, first create a personal profile or account in the relevant database, then contact the Library at [email protected]  and staff will then organise upgraded access.

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To find information on legal *cases* argued in the courts, see our Law and Justice library guide.

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Top 40 Most Popular Case Studies of 2021

Two cases about Hertz claimed top spots in 2021's Top 40 Most Popular Case Studies

Two cases on the uses of debt and equity at Hertz claimed top spots in the CRDT’s (Case Research and Development Team) 2021 top 40 review of cases.

Hertz (A) took the top spot. The case details the financial structure of the rental car company through the end of 2019. Hertz (B), which ranked third in CRDT’s list, describes the company’s struggles during the early part of the COVID pandemic and its eventual need to enter Chapter 11 bankruptcy. 

The success of the Hertz cases was unprecedented for the top 40 list. Usually, cases take a number of years to gain popularity, but the Hertz cases claimed top spots in their first year of release. Hertz (A) also became the first ‘cooked’ case to top the annual review, as all of the other winners had been web-based ‘raw’ cases.

Besides introducing students to the complicated financing required to maintain an enormous fleet of cars, the Hertz cases also expanded the diversity of case protagonists. Kathyrn Marinello was the CEO of Hertz during this period and the CFO, Jamere Jackson is black.

Sandwiched between the two Hertz cases, Coffee 2016, a perennial best seller, finished second. “Glory, Glory, Man United!” a case about an English football team’s IPO made a surprise move to number four.  Cases on search fund boards, the future of malls,  Norway’s Sovereign Wealth fund, Prodigy Finance, the Mayo Clinic, and Cadbury rounded out the top ten.

Other year-end data for 2021 showed:

• Online “raw” case usage remained steady as compared to 2020 with over 35K users from 170 countries and all 50 U.S. states interacting with 196 cases.
• Fifty four percent of raw case users came from outside the U.S..
• The Yale School of Management (SOM) case study directory pages received over 160K page views from 177 countries with approximately a third originating in India followed by the U.S. and the Philippines.
• Twenty-six of the cases in the list are raw cases.
• A third of the cases feature a woman protagonist.
• Orders for Yale SOM case studies increased by almost 50% compared to 2020.
• The top 40 cases were supervised by 19 different Yale SOM faculty members, several supervising multiple cases.

CRDT compiled the Top 40 list by combining data from its case store, Google Analytics, and other measures of interest and adoption.

All of this year’s Top 40 cases are available for purchase from the Yale Management Media store .

And the Top 40 cases studies of 2021 are:

1.   Hertz Global Holdings (A): Uses of Debt and Equity

2.   Coffee 2016

3.   Hertz Global Holdings (B): Uses of Debt and Equity 2020

4.   Glory, Glory Man United!

5.   Search Fund Company Boards: How CEOs Can Build Boards to Help Them Thrive

6.   The Future of Malls: Was Decline Inevitable?

7.   Strategy for Norway's Pension Fund Global

8.   Prodigy Finance

9.   Design at Mayo

10. Cadbury

11. City Hospital Emergency Room

13. Volkswagen

14. Marina Bay Sands

15. Shake Shack IPO

16. Mastercard

17. Netflix

18. Ant Financial

19. AXA: Creating the New CR Metrics

20. IBM Corporate Service Corps

21. Business Leadership in South Africa's 1994 Reforms

22. Alternative Meat Industry

23. Children's Premier

24. Khalil Tawil and Umi (A)

25. Palm Oil 2016

26. Teach For All: Designing a Global Network

27. What's Next? Search Fund Entrepreneurs Reflect on Life After Exit

28. Searching for a Search Fund Structure: A Student Takes a Tour of Various Options

30. Project Sammaan

31. Commonfund ESG

32. Polaroid

33. Connecticut Green Bank 2018: After the Raid

34. FieldFresh Foods

35. The Alibaba Group

36. 360 State Street: Real Options

37. Herman Miller

38. AgBiome

39. Nathan Cummings Foundation

40. Toyota 2010

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Company law case studies for CA/CS/CMA examinations

“Unlock insights into Company Law with these CA/CS/CMA case studies. Explore scenarios like subsidiary acquisition, pre-incorporation contracts, and conversion into a private company. Prepare effectively for examinations with real-world applications and strategic solutions.”

  Q 1 Masons (Pvt.) Ltd. is a private limited company as per the articles of association of the company. However, a  public company acquired shares in Masons (Pvt.) Ltd. Thereby making the  company, Masons (Pvt.) Ltd., a subsidiary of that public company. State the impact of such acquisition of shares by a public company on Masons (Pvt.) Ltd

Q 2 Based on the information given in the memorandum of association, Smart Ltd. Was incorporated and the certificate of incorporation was issued by the Registrar of Companies, New Delhi. The memorandum of association was duly signed, except that X, Y and Z signed it on behalf of five minors. Examine the validity of the certificate of incorporation issued by the Registrar of Companies [hint : certificate is valid, moosa goolam ariff vs ebrahim goolam ariff]

Q 3 Good Homes Ltd. was registered as a public company with 205 members as follows :

No. of members

Board of directors of the company takes a decision to convert the company into a private company. Being a legal advisor, the Board of directors seeks your advice about the steps to be taken for conversion of the company into a private company including reduction in the number of members, if necessary, as per the Companies Act, 2013. Advise the Board. [hint : no reduction required]

Q 4 A group of persons, called promoters have submitted an application to the Registrar of Companies, New Delhi for getting a company incorporated as a public company. Pending the Registrar’s decision of granting certificate of incorporation, the promoters enter into certain contracts for the purchase of some assets for the proposed company. Explain the legal position of promoters’ liability and the liability of the proposed company after  its incorporation,  in this regard. [hint : pre incorporation contracts]

Q 5 Kamal, the promoter of Desire Ltd., has incurred 1 lakh for formation of the company.The company refuses to pay all the expenses so incurred by Kamal since the company does not have any provision in the Articles of Association for such payment. Advise Kamal regarding the remedy available to him for his claim

Q 6 ABC Ltd. is a company incorporated under the Companies Act, 2013. The paid-up share capital of the company is held as under :

Explaining the provisions of the Companies Act, 2013, state whether the said company be called a ‘Government company’ and also state whether the employees of a Government company can claim their salaries from the Government of India [hint : govt co, can’t claim from GOI]

BOOKS OF ACCOUNT AND AUDIT

Q 1 Mr shyam is a small shareholder of ABC LIMITED and after that he was appointed as the small shareholder director ABC LIMITED and as on 1 aug 2016 went to company to inspect the books of accounts but accounts manager object that he can’t inspect because it is prejudicial to the interest of company if Mr shaym would be allowed to inspect. Explain as per provisions of companies act 2013 whether Mr shyam has a power to inspect ? [ hint : sec 209(3) of co act 2013, director has a power to inspect ]

Q 2 District court pass an order to recasting the books of accounts of the pasco india limited on the application filled by the income tax department and company raised objection that district court doesn’t have a power to pass such type of order, clarify as per provisions of companies act? [ hint : district court doesn’t have a power to recast the account, NCLT have a power to recast ]

Q 3 Board of director of ITC LTD has approved the financial statement on which Mr sumit has signed as chairman, for which is no authorization has been received by the BOD for signed, ROC issued the show cause notice to the company why penalty under sec 134(8) shall not to be imposed. Explain the action of ROC is tenable under law ? [ hint : yes, penalty can be imposed ]

Q 4 financial statement of ITC LTD specified that net worth of the company for the FY ended 31 march 2016 600 crore, company wants to spend in the financial year 16-17 in Corporate Social Responsibility Policy, information in regards of profits of all preceding 3 financial years are as under :-

BOD didn’t specified in board report about the amount and details of expenditure in CSR policy explain as per provisions of companies act, 2013 [ hint : Rs 2.5 crore and required to disclose otherwise liable to impose penalty ]

Q 5 Prism Ltd. has accepted Rs10 lakh as advance towards the supply of goods to certain parties. As per the agreement, the company will supply the goods after two years from the date of deposit. Later on, internal auditors qualified their report on the ground that the company has violated the provisions of the Companies Act, 2013. Directors explained that this is required to complete the order. Examining the relevant provisions of the Companies Act, 2013 state whether the explanation given by the directors is justified [ hint: not justified, consider as deposit otherwise punishable with fine which shall not be less than one crore rupees but which may extend to ten crore rupees ]

Q 6 Karnataka bank limited engaged in the business of banking provides a loan to the one of its director i.e. mukesh, amount Rs 20 crore as on 10 sep 2016 for it statutory auditor made an objection that it is violated the provision of companies act and BOD REQUIRED to give explanation on it. Explain as per provisions of companies act 2013 [hint: banking company can give a loan to director, sec 185]

Q7 on examination of books of accounts of DLF LTD Statutory auditor specify in the audit report that there is likely an amount of Rs 1 crore but BOD has not provided any explanations in the board report about the such fraud, BOD contented that it is not actual figure it is an expected figure. Explain as per provisions of companies act 2013 [hint: mandatory to explain]

Q8 Mr krishnamurty, statutory auditor of the coca cola (india) pvt ltd, has attend the EGM of the company, for which company didn’t made any notice to the auditor, company has made objection that mandatory to issue notice only in case of annual general meeting. Explain as per provisions of companies act 2013 statutory auditor can attend meeting without receiving a notice? [hint: can attend]

Q 1   ABC pvt ltd has equity paid up share capital amount of Rs 40 lacs and preference paid up share capital Rs 30 lacs and the turnover for the period ended 31 march 2016 Rs 2.5 crore

Explain whether there is a mandatory to convert in to public company or private company ? and time required for conversion ? [ hint: yes and in 6 months i.e. 30 sep 2016 ]

Q 2 ABC pvt ltd has equity paid up share capital amount of Rs 40 lacs and preference paid up share capital Rs 30 lacs and the turnover for the period ended 31 march 2016 Rs 2.5 crore

If within 6 months conversion will not be made whether company liable to struck off, explain the consequences? [ hint: no, One Person Company or any officer of the One Person Company shall be punishable with fine which may extend to ten thousand rupees and with a further fine which may extend to one thousand rupees for every day ]

Q 1 jaypee industries ltd made a public issue amount of Rs 100 crore and received an application money amount Rs 10 crore as on 1 jan 2016 and company unable to made allotment, due to strike made by the employees of merchant bankers, upto 31 jan and company made an refund  2 april 2016.CFO contended that required to show the amount in the as a deposit. Explain as  per provisions of companies act 2013 [ hint : considered as deposits ]

Q 2 pioneer Ltd. has accepted Rs10 lakh as advance towards sale of land . As per the agreement, the company will transfer the possession of land after two years from the date of deposit. Later on, internal auditors qualified their report on the ground that the company has violated the provisions of the Companies Act, 2013. Directors explained that this is required to complete the order. Examining the relevant provisions of the Companies Act, 2013 state whether the explanation given by the directors is justified [ hint: not consider as deposit ]

Q3 pioneer Ltd. , is an eligible company, has accepted Rs10 lakh as deposit for a term 24 months from member as on 1 april 2016 financial statements provided the following information for the year ended 31 march 2016 as as under

Examine the validity of amount of deposit took by the company ? [hint: deposit up to 9.5 lacs is valid]

Q 1 Mr suresh applied for 4,000 shares in a company i.e. JAR aluminum ltd but no allotment was made to him. Subsequently 4,000 shares were transferred to him without his request and his name was entered in the register of members. He knew it but took no steps for rectification of the register of members. The  company went into  liquidation and he was held liable  as a contributory, explain [ hint : liable for contribution ]

APPLICATION OF COMPANY LAW TO DIFFERENT SECTORS

Q 1 Section 129 (1) states that the financial statements shall give a true and fair view of the state of affairs of the company or companies, comply with the accounting standards notified under section 133 but ICICI bank denies to follow that such provisions shall not apply on it. explain ? [ hint: view of icici bank is correct ]

DEBT CAPITAL

Q 1 SAHARA investment limited issued a debenture on private placement basis amount if Rs 100 crore on  which 5% issued to the promoter i.e. subrata roy sahara with a specific rights of voting in general meeting, one of the shareholder objected that such type of issue against the law, company contended that objection is valid if such type of issue made to outsider, explain the validity of objection [ hint : no company shall issue any debentures carrying any voting rights ]

Q 2 Alok, the Managing Director of Yellow Ltd., borrowed a large sum of money and misappropriated the same. Later, when the lender demanded his money, the company refused to repay, contending that the money borrowed by Managing Director was misappropriated by him and the company is not liable for repayment. Decide, giving reasons, whether the lender would succeed in recovering the money from the company

Q 3 Board of directors of Joy Ltd., by a resolution passed at its meeting, decide to provide a loan of 50 crore to Happy Ltd. The paid-up share capital of Joy Ltd. on the date of resolution was 100 crore and the aggregate balance in the free reserves and securities premium account stood at 40 crore. Examining the provisions of the Companies Act, 2013, decide whether the Board’s resolution to provide a loan of 50 crore to Happy Ltd. is   valid [hint: valid ]

Q 4 Board of directors of Prince Ltd. decides to go for the issue of secured debentures of Rs100 each, to the extent of Rs 10 crore. Further, as the company is going for the issue of secured debentures, it is required to create a debenture redemption reserve. The Board seeks your advice on the conditions to be fulfilled and compliance of the provisions of the Companies Act, 2013. Advise the Board

Q 5 Manohar Motors Ltd. has a paid-up share capital of Rs 10 crore and free reserves of Rs 5 crore. The Board of directors want to borrow a sum of Rs 20 crore for its long-term capital requirements from the market.

Discuss whether they can do so and if yes, what are the requirements under the Companies Act, 2013 which they have to comply with

Q 6 Board of directors of sultan Ltd., by a resolution passed at its meeting, decide to provide a loan of 50 crore to jayshree Ltd. Information in regards of sultan limited are as under for the year ended 31 march 2017

Examining the provisions of the Companies Act, 2013, decide whether the Board’s resolution to provide a loan of 50 crore to jayshree Ltd. is valid [hint: valid]

Q 7 Manohar Motors Ltd. provides Information for the year ended 31 march 2017

company decide to take a loan amount of Rs 90 crore from ICICI BANK. Examining the validity of the provisions of the Companies Act, 2013 [ hint : upto 80 crore BOD pass a resolution, for excess required to pass special resolution ]

Q 8 jaypee industries ltd made a public issue amount of Rs 100 crore and received an application money amount Rs 10 crore as on 1 jan 2016 and company unable to made allotment, due to strike made by the employees of merchant bankers, upto 31 jan and company made an refund 2 april 2016.CFO contended that required to show the amount in the as a deposit. Explain as per provisions of companies act 2013 [ hint : considered as deposits ]

Q 9 pioneer Ltd. has accepted Rs10 lakh as advance towards sale of land . As per the agreement, the company will transfer the possession of land after two years from the date of deposit. Later on, internal auditors qualified their report on the ground that the company has violated the provisions of the Companies Act, 2013. Directors explained that this is required to complete the order. Examining the relevant provisions of the Companies Act, 2013 state whether the explanation given by the directors is justified [ hint: not consider as deposit ]

Q 10 pioneer Ltd. , is an eligible company, has accepted Rs10 lakh as deposit for a term 24 months from member as on 1 april 2016 financial statements provided the following information for the year ended 31 march 2016 as as under

Q11 PQR pvt Ltd. has accepted Rs10 lakh as deposit for a term 24 months from member as on 1 april 2016 financial statements provided the following information for the year ended 31 march 2016 as as under

Examine the validity of amount of deposit took by the company ? [hint: deposit up to 95 lacs is valid]

Q 12 Ajay Ltd. had given a loan of Rs 10 crore to Binoy Ltd. and created a charge on the assets of the company. But Binoy Ltd. failed to register the charge within the stipulated time. Can Ajay Ltd. register the charge with the Registrar of Companies ? If yes, what shall be the procedure ? [ hint: can register it ]

SMALL SHAREHOLDER DIRECTOR

Q 1 Infosys ltd has listed the BSE has total number of registered shareholder are 36 thousands out of which 1244 are such shareholder who acquire the equity shares 1800 each per person nominal value per share Rs10, having market value 120 per share in BSE, ROC objected that company is required to appoint a small shareholder director, explain as per provision of companies act, 2013, there is mandatory to appoint small shareholder director ?

Q 2 Infosys ltd has listed the BSE has total number of registered shareholder are 36 thousands out of which 1244 are such shareholder who acquire the preference shares 1800 each per person nominal value per share Rs10, having market value 120 per share in BSE, ROC objected that company is required to appoint a small shareholder director, explain as per provision of companies act, 2013, there is mandatory to oppoint small shareholder director and company objected mandatory to appoint, when small shareholder, who acquired equity share of the company exceeded 1000. Explain

Q 3 Infosys ltd has listed the BSE has total number of registered shareholder are 36 thousands out of which 1244 are such shareholder who acquire the preference shares 1800 each per person nominal value per share Rs10, having market value 120 per share in BSE, all small shareholder made a notice to company for appointment of Mr A as a small shareholder director, who didn’t purchased any share in the company, whether Mr A can appoint as a small share holder director

APPOINTMENT OF DIRECTOR

Q 4 wipro ltd has no provision in AOA for the appointment of director 5 subscriber become the director of a company but another 2 didn’t want to become a director Mr rohan the company secretary of the company specify that subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed, it is mandatory that all subscriber shall be consider as director. Clarify contention of Mr rohan is correct as per provision of companies act 2013

Q 5 Mr ram file the application for the allotment of DIN as on 1 july 2016 in meanwhile TCS limited has passed a resolution in the extra ordinary general meeting as on 27 july 2016 for Mr ram appointed as director on the basis of application number generated after filing of application. ROC made an objection for such appointment that on the basis of application number no individual can be appointed as a director as per sec 152(2) appointment of director, whether contention of ROC tenable as per law? Clarify

Q 6 bharat electronics LIMITED which is wholly owned by the central govt in which half director in the BOD are rotational director ROC OBJECTED that minimum 2/3 of total director require to be rotational.Mr B, CS in practice, objected that provision of sec 152(6) shall not apply to government company. Clarify

DISQUALIFICATION OF DIRECTOR

Q 7 bharat electronics LIMITED which is wholly owned by the central govt in the company when Mr ram has a director financial statements or annual returns for any continuous period of three financial years i.e. 12-13, 13-14 and 14-15 Mr ram are going to be appointed as director in reliance industries limited for it resolution has been passed in 30 sep 2015.ROC objected that appointment against the provisions of sec 164(2)? Clarify

Q 8 reliance industries ltd, in the company when Mr ram has a director financial statements or annual returns for any continuous period of three financial years i.e. 12-13, 13-14 and 14-15 Mr ram are going to be appointed as director in IRCTC limited for it resolution has been passed in 30 sep 2015.ROC objected that appointment against the provisions of sec 164(2)? Clarify

Q 9 Reliance Clothing India Private Limited is a subsidiary of reliance industries limited has made an additional ground of disqualification of director that director should be post graduate, small shareholder are going to appoint a representative, i.e. Mr harish , of small shareholder in BOD but who is only a graduate, whether he can be appointed as director ? clarify as per provisions of companies act 2013

SECRETARIAL AUDIT

Q 10 ABC LTD listed in the BSE having the equity paid capital Rs 30 crore and preference paid up capital Rs25 crore.it has not annexed the secretarial audit report with board report because of non conduct of such audit. ROC objected that mandatory to conduct and file the secretarial audit. Explain as per provision of companies act 2013

AUDIT COMMITTEE

Q 11 ABC LTD having the equity paid capital Rs 6 crore and preference paid up capital Rs 3 crore as on 31 march 2016 audited financial statement and first quarter for the FY 16-17 ended 30 june 2016 unaudited financial statement provides that equity paid capital Rs 6 crore and preference paid up capital Rs 4 crore (incl 1 cr through private placement basis).whether BOD of the company are mandatory to constitute the audit committee. Explain with reasons

CONTRIBUTION TO POLITICAL PARTY

Q 12 reliance jio telecommunication ltd contributed to own formed the People’s Electoral Trust and claim deduction 1 crore in FY 16-17 on the basis of information of last preceding financial year profit are as under 13-14 Rs 10 crore, 14-15 Rs 20 cr and 15-16 Rs 20 cr. ROC objected on the basis of information that company can’t claim deduction for own formed electoral trust, explain as per provision of companies act 2013

RELATED PARTY TRANSACTION

Q 13 Infosys (india) LTD having made a sale to Infosys china, NR narayanmurti, who is the promoter of Infosys india,has acquired the equity share 2%, amount of Rs 31 crore in the financial year 16-17 without confirmation in general meeting and turnover of the Infosys (india) ltd for the FY 16-17 300 CRORE. Whether it is covered under related party transaction u/s 188? Explain

Q 14 rohit murty, son of NR narayanmurti, who is the promoter of Infosys india,appointed as chief financial officer in the financial year 16-17 for a salary amount of Rs 2.6 lacs month, whether rohit murty can be appointed as CFO with such remuneration, explain as per provision of companies act 2013

Q 1 Due to inadequacy of profits, the Board of directors of Rise Ltd. decided not to recommend any dividend for the financial year ended 31stMarch, 2015.Certain shareholders of the company complained to the Company Law Board/Tribunal regarding mismanagement of the affairs of the company, since the Board of the company did not recommend any dividend. Explaining the provisions of the Companies Act, 2013,examine whether the contention of the shareholders is tenable. [ hint : not consider mismanagement ]

Q 2 BOD OF reliance industries ltd has passed a resolution to declare an interim dividend during the financial year 16-17 as on 30 sep 2016 @ 120% of the face value of the share i.e. Rs 10 but before payment of dividend BOD rescind the such resolution i.e. 16 oct 2016, on it shareholders made an objection that after passing a resolution of dividend it is a debt against the company, company can’t rescind after that. Explain [ hint : VAZIR SULTAN TOBACCO CO. LTD vs CIT 1981, not a debt to the company ]

Q 3 RR METALS limited has no profits in the financial year for the year ended 31march 2017, for declaring a dividend company made a public issue amount of Rs 1 crore out of which 70 lacs has been utilised for the payment of dividend for such financial year, statutory auditor made an objection it is not tenable in law, clarify as per provisions of companies act 2013 [ hint: it is not tenable in law as per sec 123(1) ]

Q 4 RR METALS limited has no profits in the financial year for the year ended 31march 2017, for declaring a dividend company intended to utilize the amount of general reserve, information are as under

Company declared the dividend for the FY 2015-16- 50%, 14-15 70% & 13-14 90%. Advise the company maximum amount can be utilised for payment of dividend to equity shareholder as per provisions of companies act, 2013[ hint : Rs 140 lacs ]

Q 5 In Evergreen Ltd., the Board of directors declared an interim dividend but could not distribute the dividend due to objections of audit committee that the accounts considered by the Board were false; and true financial results were inflated by not incorporating outstanding liabilities and over-valuation of inventories. A shareholder filed a suit for non-payment of dividend. One of the directors contended that he never attended the Board meeting where the issue relating to payment of interim dividend was declared on the basis of false accounts. Discuss about the validity of contention of the director [ hint : VAZIR SULTAN TOBACCO CO. LTD vs CIT 1981, not a debt to the company ]

GENERAL MEETING

Q 1 Infosys ltd has not hold its AGM for the financial year ended 31 march 2017, one of the member of the company who holds 15% voting power in the company has filled the petition in front of company law tribunal in regards of holding a AGM, RESPONDENT  i.e. Infosys objected that member doesn’t have a power to compel only the ROC has the power. Explain as per provision of companies act 2013 [hint : sec 97 : any member can filled to hold AGM]

Q 2 Infosys ltd has not hold its AGM for the financial year ended 31 march 2017, one of the member of the company who holds 1% voting power in the company has filled the petition in front of company law tribunal in regards of holding a AGM, RESPONDENT i.e. Infosys objected that member holding below 10% voting power can’t enforce. Explain as per provision of companies act 2013 [hint : sec 97 : any member can filled to hold AGM]

Q 3 Infosys ltd has not hold its AGM for the financial year ended 31 march 2017, one of the creditor of the company has filled the petition in front of company law tribunal in regards of holding a AGM, RESPONDENT i.e. Infosys objected that creditor can’t Explain as per provision of companies act 2013 [hint : sec 97 : any member can filled to hold AGM]

Q 4   AOA  of Infosys ltd specify that power to call AGM are on the BOD of the company and member holds 10% or more voting power in the company, one of the member filled petition to tribunal for call AGM and tribunal pass order, company challenge that only authorized person who specified in the AOA can only call AGM, YOU are the legal advisor advise on such matter. [hint : sec 97 : notwithstanding anything contained in this Act or the articles of the company, any member can filled to hold AGM]

Q 5 Infosys ltd has not hold its AGM for the financial year ended 31 march 2017, one of the member of the company who holds 1% voting power in the company has filled the petition in front of company law tribunal in regards of holding a AGM, RESPONDENT i.e. Infosys hold AGM as per direction of tribunal, ROC objected that meeting for the financial year 16-17 has not been held by the company. Explain as per provision of companies act 2013 [hint : sec 97(3): Agm As Per direction of the tribunal deemed to be an annual general meeting of the company]

Q 6 Bright Products Ltd. wishes to sell one of its undertakings for which it decides to call an extra-ordinary general meeting (EGM) and to pass a resolution thereat. State the material facts to be set out in the explanatory statement to be annexed to the notice of the EGM on this special business to be transacted at the meeting. [hint : matter to be stated in explanatory statement in case of selling of undertaking]

Q 7 Pioneer Fisheries Ltd. has borrowed an amount of Rs 50 crore from a financial institution. The annual general meeting of the company was held on 1st September, 2015.Examining the provisions of the Companies Act, 2013, state as to who will sign and certify the annual return while filing the same with the Registrar of Companies after the annual general meeting. [hint : signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice ]

Q 8 Pioneer Fisheries pvt. Ltd. has turnover for the financial year ended 15-16 Rs 1.2 cr. The annual general meeting of the company was held on 1st September, 2016.Examining the provisions of the Companies Act, 2013, state as to who will sign and certify the annual return while filing the same with the Registrar of Companies after the annual general meeting [hint: incase of small company, shall be signed by the company secretary, or where there is no company secretary, by the director of the company]

Inspection and investigation

Q 1 Sudarsan Trading Co. Ltd. is a company mainly transacting non-banking financial business, the Joint Director, Inspection issue notice of examination of books of accounts of the company and the mail which has interchanged between the director group of the company, because it is relevant, company objected on examination of letter, explain as per provisions of companies act 2013 [hint : C.V. Karuppunni And Ors. vs Joint Director, contention of company is correct]

Q 2 Sudarsan Trading Co. Ltd. is a company mainly transacting non-banking financial business, the Joint Director, Inspection issue notice that “you are hereby required personally to attend at the office of the Regional Director 14th may 2016 at 11 am to produce either personally or through an authorized representative the books of account or other documents specified overleaf and not to depart until you receive my permission to do so”, company object that it is not open for department to call books of accounts in his office, explain ? [hint: it is within power of department to call records in his office]

Q 3 Search and seizure conducted by the inspecting officer in pioneer company limited with the permission of central govt but for seizure conducted without the permission of special court, such company made an objection that serach conducted by the inspecting officer is against the law, explain as per provisions of companies act 2013 [ hint : seizure may be conducted after obtaining an order from the Special Court ]

Q 4 Inspecting officer i.e. Mr ravinder seize the books of accounts after conducting the search as on 1 july 2016 in the amtee properties limited and such books of accounts had not been returned by Mr ravinder upto 31 dec 2016, company made an objected that it is holding more than authorized period as specified by the law, whether contention of company is correct [ hint: sec 209(2): inspector shall return the books and papers seized in any case not later than 180 days after such seizure]

Q 5 144 members holding 9% paid up share capital of the ABC limited has apply to the tribunal of investigate the affairs of the company, company object that minimum holder of 10% paid up share capital shall required to apply for investigate the affairs of the company, explain whether the contention [ hint: sec 213: member can apply to tribunal ]

Q 6 Investigating officer i.e. Mr ravinder appoints to examine the affairs of the ABC limited, wants to examine the papers related to group of suppliers, which are in under possession of Mr sohan Sharma, who is the former employee of the company, whether Mr ravinder succeed to examine the documents explain? [ hint : sec 217 : can examine the documents ]

Q 7 During the pendency of the investigating process the company pass the special resolution to winding up the company, for which company deny to provide the some documents because of process of winding up has been initiated, whether investigating officer can examine the documents after commencement of winding up process?

MEMBERSHIP IN A COMPANY

Q 1 Mr. sohan is the one of the subscriber of the MOA, of the interior investment ltd, out of the 7 subscriber but his name is not mentioned in the register of member of the company at the time of declaring the dividend company had not declared the dividend after arguing that Mr is not the registered shareholder of the company, explain as per provisions of the companies act 2013 [ hint: subscriber is the member, mandatory to distribute the dividend ]

Q 2 Mrs  sujata holds 52% equity  share capital in the DEF ltd, which is registered under ROC  Mumbai, remaining shareholding acquire by the 48 shareholders, every member holds 1% share in the company and 20 member resides delhi and decides to registers of member required to be maintained in delhi Mrs sujata object that it is against the law to maintain the register other than place of registered office, explain [ hint: after passing a special resolution can maintain any other place in india, where more than 1/10 member resides, proviso of sec 94(1) ]

Q 3 icici bank lend a loan to NTPC ltd amount of Rs 150 crore, after making a public issue share certificate has been allotted by the company and for which representatives of icici bank went to such company for examination of register of member nut the company made objection only security holder has as right to inspect, whether contention of company is as per law, clarify as per provisions of companies act 2013[ hint: any other person can inspect the register on payment of the requisite fee ]

Q 4 Satish, outsider, who is not a member of dayal Ltd., wants to inspect the register of deposits maintained by the company as required under the provisions of the Companies Act, 2013. The company refused to provide the register for inspection without assigning any reason. Referring to the provisions of the Act, examine the validity of the company’s refusal [ hint : any other person can inspect the register on payment of the requisite fee ]

Q 5 Mr suresh applied for 4,000 shares in a company i.e. JAR aluminum ltd but no allotment was made to him. Subsequently 4,000 shares were transferred to him without his request and his name was entered in the register of members. He knew it but took no steps for rectification of the register of members. The company went into liquidation and he was held liable as a contributory, explain [ hint : liable for contribution ]

Q 6 Satish, legal heirs, son of deceased member i.e. Mr sagar of dayal Ltd. wants to inspect the register of deposits maintained by the company as required under the provisions of the Companies Act, 2013. The company refused to provide the register for inspection without assigning any reason. Referring to the provisions of the Act, examine the validity of the company’s refusal [ hint: shares transmitted to satish, he become member, he can inspect the register ]

Q 1 Reliance industries limited has listed in Bombay stock exchange and its subsidiary Reliance Jio Infocomm Limited which has a paid share capital 4 crore as on the 31 march 2017 for the financial year 16-17, explain as per provision of companies act 2013 whether for Reliance Jio Infocomm Limited is a mandatory to file financial statements in XBRL taxonomy [ hint : yes ]

Q 2 Reliance industries limited has listed in Bombay stock exchange and its associate Reliance Industrial Infrastructure Limited which has a paid share capital 4 crore as on the 31 march 2017 for the financial year 16-17, explain as per provision of companies act 2013 whether for Reliance Industrial Infrastructure Limited is a mandatory to file financial statements in XBRL taxonomy [ hint: no ]

Q 3 In relation to filing of financial statements of a company in XBRL mode and by usingthe XBRL taxonomy, decide whether the following companies are required to file the financial  statements in the said mode :

(i) Grand , the subsidiary company of Tiny Ltd. which is listed at Kolkata Stock Exchange. [ hint : yes ]

(ii) Prime, a company which has paid-up share capital of Rs 100 crore. [ hint : yes ]

(iii) Crafty , a company which has a turnover of Rs 400 crore. [ hint : yes ]

(iv) Comfort , a non-banking financial company [ hint: no ]

For Any Query/ Solutions Contact : CA Amit Aggarwal Ashwini Commerce Paradise U-87, Ground Floor, Near Laxmi Nagar Metro Gate 3, Shakarpur, Delhi 92 9643547868, 9210617186

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Name: CA AMIT AGGARWAL

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14 Comments

Help me with the Debt capital question no.1(SAHARA)

Mr suresh applied for 4,000 shares in a company i.e. JAR aluminum ltd but no allotment was made to him. Subsequently 4,000 shares were transferred to him without his request and his name was entered in the register of members. He knew it but took no steps for rectification of the register of members. The company went into liquidation and he was held liable as a contributory, explain

I need all answers

Q 3 Good Homes Ltd. was registered as a public company with 205 members as follows : No. of members Directors and their relatives 45 Employees 12 Ex-employees 08 (shares were allotted when they were employees) Others 140 Total number of members 205 Board of directors of the company takes a decision to convert the company into a private company. Being a legal advisor, the Board of directors seeks your advice about the steps to be taken for conversion of the company into a private company including reduction in the number of members, if necessary, as per the Companies Act, 2013. Advise the Board.[hint : no reduction required] i want this answer..

Read more at: https://taxguru.in/chartered-accountant/company-law-case-studies-cacscma-examinations.html Copyright © Taxguru.in

financial statement of ITC LTD specified that net worth of the company for the FY ended 31 march 2016 600 crore, company wants to spend in the financial year 16-17 in Corporate Social Responsibility Policy, information in regards of profits of all preceding 3 financial years are as under :- 15-16Rs 100 crore14-15Rs 160 crore13-14Rs 120 crore BOD didn’t specified in board report about the amount and details of expenditure in CSR policy explain as per provisions of companies act, 2013 [hint : Rs 2.5 crore and required to disclose otherwise liable to impose penalty ]

Please share the answers.

Kindly provide solutions for all the case studies

wipro ltd has no provision in AOA for the appointment of director 5 subscriber become the director of a company but another 2 didn’t want to become a director Mr rohan the company secretary of the company specify that subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed, it is mandatory that all subscriber shall be consider as director. Clarify contention of Mr rohan is correct as per provision of companies act 2013 I want solution of this.

I need solutions.

I want this answer asap

I need solution also

I want solution of this case study

here is only questions i need the answer also.

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Discussed here is the Business Law Case Studies with Solutions. Business Law is also known as Legal Aspects of Business, Commercial Law etc. Here we have given short case studies along with solutions in business law. These simple case law in commercial law contains cases related to Contract Act 1872, Sale of goods Act and Consumer protection Act with solutions. All the 3 Acts discussed here is majorly used in business transactions. These short case studies on commercial law with answers will be helpful for students of MBA, BBA, B.com and Law. These case studies and solutions are explained in very simple words without much difficult legal terms for the benefit of the students.

Below is the Business Law Case Studies with Solutions.

I. Indian Contract Act Case Studies

1. case study on basic contract act.

“A gives an offer in the newspaper for the sale of his HP laptop for Rs. 15000. He also stated that Those who are willing to purchase can send a message to his mobile.”” In this simple case consider the following situation and discuss the solution:

a) B was interested to purchase the laptop and sent a message stating that he wish to purchase for 12000. Was it an acceptance is given by B-

No it was not an acceptance It can be termed as counter offer. If feasible A has to give acceptance.

b) B was interested to purchase the same but he asked C to message on behalf of B. and C messaged as follows

“My friend B is interested to purchase your laptop for 15000”  . Here is this a valid Acceptance? is A binded by the acceptance.

No this is not a valid acceptance. The acceptance needs to be given by the accept-or itself. Hence A is not binded by the action of C.

c)  B who is much interested in purchasing the laptop had called Mr.A and given the acceptance through his phone. Is A obliged for acceptance given by B.

The acceptance must the given by the mode prescribed by the offer-or only. Hence in the given case the acceptance given by B through telephone is not an acceptance.

2. Case study on Valid Contract

Mr. X invited Mr. Y his business partner for X’s sisters marriage. Y accepted the invitation in this ground X booked a table in a costly hotel where the marriage takes place. Due to some reason Y could not attend the function. What type of contact is this. Is this a valid contract. Justify your answer.

This is not a valid contract on the following basis:

a. This is a social agreement. The agreement is not created with an intention to create legal relationship rather to create a social relationship.

b. There is no consideration involved in the contract hence it is not a valid contract.

II. Consumer Protection Act Case Studies

3. case study on who is a consumer.

a. Mr. A bought a printer from an electronics store for using it at home. The TV was defective. Is Mr. A a consumer?

Yes Mr. A is a consumer as he purchased the printer for his own use.

b. Balu is a distributor for computer accessories. He bought 100 pen-drives for selling to other computer vendors. Is Balu a consumer?

Balu is not a consumer as he has obtained accessories for resale.

4. Case study on Restrictive and Unfair trade practices

Mr. X went to a electronic shop to purchase a TV for his newly built house. He asked the information about Samsung 40 inches LED TV to the shop keeper. The shop keeper being a dealer of other brands misguide the customer stating that Samsung had planned to stop the production of 40 Inch LED TV’s. The shopkeeper made the customer believed the same and advice him to purchase some other brand.

The act of Shop keeper is Restrictive trade practice or Unfair trade practices?

The act of shopkeeper is a unfair trade practice as he had mislead the customer with a motive to increase his sale.

III. Sale of Goods Act 1930 Case studies

5. case study on sale or agreement to sell.

On 1st March 2017, Alex agreed to sell his car to Beny for Rs. 80,000. It was agreed between themselves that the ownership of the car will transfer to B on 31st March 2017. when the car is gets registered in Beny`s name. Justify whether it is sale or agreement to sell.

It is an agreement to sell and it will become sale on 31st March when the car is registered in the name of Beny.

6. Case study on Warranty

Anay purchased a second hand typewriter from Balu. Anay used it for sometime and also spend some money on its repairs. The typewriter turned out to be stolen one and as such Anay had to return it to the true owner chand. Is it a breach of Warranty or not. What remedy will Anay get?.

It is a breach of warranty. It is a implied warranty as to quite possession. It was held that Anay could recover damages from Balu amounting to the price paid and the cost of repair.

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Business Law Case Study - The Sole Proprietor

This Case Study is eligible for up to 1 Professionalism Hour

On February 23, 2018, John Ross, senior partner of the law firm, Ross & Simmons LLP in Oakville, Ontario, picked up a phone message from Vincent Serrano, auditor for his client, Williams Furniture Inc. (“WF Inc.”).  Vincent told John that the company’s sole owner and director, 74-year old Doris Williams, had a mental breakdown at the office and had been admitted to the hospital. With three large transactions requiring Doris’ approval due to close at the end of the week, John wondered what he was going to do. The Lawyer John Ross, a business lawyer called to the bar of Ontario in 1998, had practised for 20 years at Ross & Simmons LLP, a national business law firm. His practice focused on mergers and acquisitions, corporate finance, major project organization, corporate reorganization, and commercial real estate, and he acted for several business owner-managers and their Boards of Directors.  John had represented WF Inc. and its sole owner and director, Doris Williams, for the past 15 years.