23Oct 2018 by Reese Bannister

5 Essential Requisites of Valid Call on Shares (Indian Companies Act, 1956)

Business
Demand made by a company towards the payment of value of shares in pursuance of resolution of the Board and the terms of the Articles is termed as call. However, money payable on application and allotment are not calls.Payment made by a shareholder by installments is not calls. A call can be made only after the minimum subscription is allotted and the company is entitled to commence business. Call may also be made by a liquidator in the course of the winding up. Articles usually provide the rules regarding making of calls and these are to be strictly followed.Section 36(2) of the Companies Act provides that all money payable by any member to the company under memorandum or articles shall be a debt due from him to the company. But…
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23Oct 2018 by Reese Bannister

Useful Notes on Expulsion of a Member in a Company (Indian Companies Act, 1956)

Management
A company limited by guarantee such as a social club, professional, cultural, religious or other such associations may expel any member of the company in accordance with the regulations and provisions contained in the articles of association.Expulsion on the ground such as mis-conduct of the members is also possible. But the requisite in such case would be exercise of the power in the interest of the company as a whole not for a particular group of the members.In the case of companies having share capital any provision in the articles of the company on expulsion of a member would be against the principle of corporate democracy and in violation of sections 100-104. The Department of Company Affairs issued a clarification by a circular dated November 1, 1975 regarding company’s power…
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23Oct 2018 by Reese Bannister

What are the Remedies in Case of Refusal of Transfer of Shares? (Section 111 of Indian Companies Act)

Law
If a company refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of any shares of a member in the company, it shall within two months from the date on which the instrument of transfer was delivered to the company, send notice of the refusal to the transferee and the transferor, giving reasons for such refusal.The transferor or transferee may appeal to the Company Law Board (Tribunal) against any refusal of the company to register the transfer or to send notice of its refusal to register the same.The appeal can be made within two months of the receipt of the notice of such refusal or, where no notice has been sent by the company, within four months from the date…
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23Oct 2018 by Reese Bannister

What is the Relationship between Memorandum and Articles of Association of a Company?

Essays
Memorandum: Memorandum is the charter of the company. It describes the constitution of the company and defines the scope of its activities and powers. Articles lay down the rules and regulations to manage its affairs. Articles of a company are subordinate to the provisions of the Memorandum. Image Source: lohselaw.comMemorandum contains the area beyond which company cannot go; within that area the shareholders may make such regulations for their internal working as they think fit. Articles can be used to explain the objects laid down by the Memorandum, but never to extend them. They cannot modify the provisions of the Memorandum. ADVERTISEMENTS: Memorandum contains conditions for the use of the creditors, shareholders and the outside public. Articles constitute a contract between the company and its members in the capacity of…
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23Oct 2018 by Reese Bannister

The Role of Security Service in Hospitals – Explained!

Management
Security service in a hospital is a service responsible for ensuring the security and safety of the hospital plant, personnel, patients and public as well as regulating the traffic within the hospital premises.A hospital is a busy public dealing place trying to provide care, comfort and cure to the patient. It is a place visited by thousands of people, every day. ADVERTISEMENTS: It is very difficult to identify any antisocial element in the crowd or foresee anyone’s intensions. As a result, unexpected undesirable situations like arguments, noisy scenes, accidents or thefts do keep happening in the hospitals.Although, safety and security is the responsibility of every staff member, the technical staff, being busy in patient care, have neither the time nor training in these matters. Patients, by and large, are incapable…
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23Oct 2018 by Reese Bannister

8 Limitations and Powers of a Company to Alter its Article of Association (Companies Act, 1956)

Government
A company has an inherent power to alter its articles. Section 31 of the Companies Act conferred the power of alteration to the company which states that a company may alter its articles by passing a special resolution to this effect. A company may even change its Articles with retrospective effect.Any provision making Articles unalterable is regarded as bad in law. Company cannot deprive itself, by an express provision in the Articles or independent contract, of the power to alter its articles. However, there are certain limitations or restrictions on the power of the company to alter its articles of association. Image Source: cdn.indiafilings.com ADVERTISEMENTS: These are as follows:1. Articles can be altered only by a special resolution. Articles can never be altered by an ordinary resolution even if they…
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23Oct 2018 by Reese Bannister

Essay on “Robotic Surgery” (733 Words)

Surgery
Robotic surgery is the use of robots in performing surgery. It started in 1985 when used for placing a needle for a brain biopsy using CT guidance and now it is being used for a variety of delicate procedures like Total Endoscopic CABG, Valve repairs/replacements, Pancreatectomy, Prostatectomy, Whipples surgery, Cholecystectomy, Pediatric surgery and Hip and Knee replacement surgery.The system comprises of three components: A surgeon’s console, a patient-side robotic cart with 4 arms, and a high-definition 3-D vision system. Articulating surgical instruments capable of cutting, dissecting, suturing are mounted on the robotic arms which are introduced into the body through cannulas.In using “da Vinci” (the most advanced robotic system) for surgery, a human surgeon makes three or four incisions—no larger than the diameter of a pencil—in the patient’s body, which…
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23Oct 2018 by Reese Bannister

8 Important Features of Globalisation – Explained!

Industry
The concept of Globalisation involves within its ambit the following features: 1. Liberalisation: It stands for the freedom of the entrepreneurs to establish any industry or trade or business venture, within their own countries or abroad. 2. Free trade: ADVERTISEMENTS: It stands for free flow of trade relations among all the nations. Each state grants MFN (most favoured nation) status to other states and keeps its business and trade away from excessive and hard regulatory and protective regimes. 3. Globalisation of Economic Activity: Economic activities are be governed both by the domestic market and also the world market. It stands for the process of integrating the domestic economies with world economy. Image Source: sociologydiscussion.com 4. Liberalisation of Import-Export System: It stands for liberating the import-export activity and securing a free…
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23Oct 2018 by Reese Bannister

Difference between State and Civil Society – Explained!

Government
Political Sociologists make a clear distinction between the state and civil society. The former is the sovereign organized single political community of all the people living in a definite territory who have an organized government which makes laws (Legislative function performed by the Legislature) enforces the laws (Executive function performed by the Executive) and interprets and applies laws to specific cases (Judicial functions performed by the Judiciary). State is the sovereign community of all the people and its government is the coercive structure which makes and implements authoritative laws, rules policies, decisions and punishments.Against this Civil Society means all the non-government, private, economic, social, cultural, moral recreational and other such associations and institutions of the people. “Civil Society works outside the state structure and belongs to the realm of autonomous…
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23Oct 2018 by Reese Bannister

6 Most Important Theories of “Social Change”

Fashion
Social Change refers to the modifications which take place in life patterns of a people. It occurs because all societies are in a constant state of disequilibrium. Early sociologists viewed the cultures of primitive peoples as completely static.But this view was abandoned with the appearance of scientific studies of pre-literate culture. Anthropologists now agree that primitive cultures always underwent changes, although at a very slow pace, which initially gave the impression of their being static and stationary.All modern sociologists unanimously express their agreement on the naturalness and inevitability of Social change in each human society. However, at the same time they project and advocate various theories of Social Change. Each theory seeks to explain the nature and reasons and scope of Social Change in a particular way. Image Source: patricklmitchell.files.wordpress.com…
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