Read the following problem carefully and solve it following the style given below: a. Issues: Find...

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Read the following problem carefully and solve it following the style given below: a. Issues: Find the key points of determination/decision by the court. It means that from the facts of the problem you must identify the most crucial questions before the court. Issues must be written in question format. b. Decision/Advice: This should be the shortest part of your case study. Here you will just put the decision/advice. c. Reasoning: Generally this is the longest part of a case study where you analyze the facts and apply the law. You must exhibit elaborately how you have reached the decision/why you have given such advice. Here you can add the case laws. The Problem Ana owned a boutique shop. Her business was going well and after few years she decided to turn it into a company. She transferred her business to the company for Taka 60,000,00 (Sixty lacs) of which Taka 40,000,00 (Forty lacs) were paid to Ana by the company and for the rest Ana became a secured creditor and the Managing Director of the company. Among the other directors were Ana's 2 sisters, 1 brother, 2 daughters and her husband. She applied to the Registrar of Companies with all required documents. In the MOA, the company's name was mentioned as "Ana and Sisters' Readymade Garments and Boutique Co. Ltd.' The object clause of MOA said that the company's main business would be to make, manage, sell and supply all kinds of readymade garments and dresses and towards this end, the company may adopt other associated or subsidiary works. The MOA also stated that it was a company limited by shares. After a few days, another company was formed under the name- 'Mary Anne's Knitting and Garments Export Import Association Ltd.'. Ana came to know about this and decided to sue this company for violation of the name clause provisions of company law. After the company started its business, the company also borrowed money from several creditors on different occasions. On the company's 5th General Meeting of the Board of Directors, 2 directors, in the absence of others, passed a resolution to take up the business of manufacturing electronic goods and altered the object clause as such. No public or general notice was given to this effect and still those 2 directors applied to the Court for confirmation of the alteration. When the other directors found out about this alteration they raised objection and decided to sue those 2 directors on behalf of the company. The company was running well for few years but then due to outbreak of Covid 19 and the national economic crisis led by this, the company lost lot of its profits and capital. It also had to call the unpaid shares of some shareholders. Nevertheless, the company could not make it up and went into the process of winding up. During the winding up process, some unsecured creditors demanded that they should be paid first out of the company's assets claiming that Ana and her family are part of the company and that in fact the company and Ana are not separate entities. Ana denied this claim and said that as a secured creditor, the company should first pay her and then the other creditors. The company now appoints you as its attorney. Advise the Court, the directors, the creditors and the company on the above facts. Read the following problem carefully and solve it following the style given below: a. Issues: Find the key points of determination/decision by the court. It means that from the facts of the problem you must identify the most crucial questions before the court. Issues must be written in question format. b. Decision/Advice: This should be the shortest part of your case study. Here you will just put the decision/advice. c. Reasoning: Generally this is the longest part of a case study where you analyze the facts and apply the law. You must exhibit elaborately how you have reached the decision/why you have given such advice. Here you can add the case laws. The Problem Ana owned a boutique shop. Her business was going well and after few years she decided to turn it into a company. She transferred her business to the company for Taka 60,000,00 (Sixty lacs) of which Taka 40,000,00 (Forty lacs) were paid to Ana by the company and for the rest Ana became a secured creditor and the Managing Director of the company. Among the other directors were Ana's 2 sisters, 1 brother, 2 daughters and her husband. She applied to the Registrar of Companies with all required documents. In the MOA, the company's name was mentioned as "Ana and Sisters' Readymade Garments and Boutique Co. Ltd.' The object clause of MOA said that the company's main business would be to make, manage, sell and supply all kinds of readymade garments and dresses and towards this end, the company may adopt other associated or subsidiary works. The MOA also stated that it was a company limited by shares. After a few days, another company was formed under the name- 'Mary Anne's Knitting and Garments Export Import Association Ltd.'. Ana came to know about this and decided to sue this company for violation of the name clause provisions of company law. After the company started its business, the company also borrowed money from several creditors on different occasions. On the company's 5th General Meeting of the Board of Directors, 2 directors, in the absence of others, passed a resolution to take up the business of manufacturing electronic goods and altered the object clause as such. No public or general notice was given to this effect and still those 2 directors applied to the Court for confirmation of the alteration. When the other directors found out about this alteration they raised objection and decided to sue those 2 directors on behalf of the company. The company was running well for few years but then due to outbreak of Covid 19 and the national economic crisis led by this, the company lost lot of its profits and capital. It also had to call the unpaid shares of some shareholders. Nevertheless, the company could not make it up and went into the process of winding up. During the winding up process, some unsecured creditors demanded that they should be paid first out of the company's assets claiming that Ana and her family are part of the company and that in fact the company and Ana are not separate entities. Ana denied this claim and said that as a secured creditor, the company should first pay her and then the other creditors. The company now appoints you as its attorney. Advise the Court, the directors, the creditors and the company on the above facts.

Answer rating: 100% (QA)

Issues i Naming rights were filed or not ii Filer of the application taken into confidence or not Di... View the full answer