Doing Business in India: Critical Legal Issues for U.S.

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Language: English

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Examples: Php 10M capital for grocery business, mayor didn’t want to issue license/permit because mayor has 3 other grocery stores, only allowed sarisari store permit, reduce capital for sari-sari so that the money will not sleep in bank • Cannot have the power to acquire Cannot engage in land transportation Doctrine of limited capacity Gov’t vs. MAJORITY VOTE OF SHs or MEMBERS 1. to enter into management contract if any of the 2 instances mentioned above in #9 is absent. 2. to adopt, amend or repeal he by-laws FF MATTERS WHICH ARE VESTED SOLEY TO THE SHs 1. delegate to he board the powers to amend by- laws (2/3 OCS) 2. revoke the power of the board to amend the by-laws (MAJORITY) prepared by: ronie ablan AAA - BASTE / ATB THE AWESOME NOTES COMMERCIAL LAW CORPORATION CODE of 16 68 POWER TO INCREASE OR DECREASE CAPI TAL STOCK OR CREATE OR I N C R E A S E A N Y B O N D E D INDEBTEDNESS NAURE: inherent power REQUIREMENTS: 1. approved by a majority vote of the board of directors and, at a stockholder's meeting duly called for the purpose, 2/3 of the OCS or members for non-stock corpo shall favor the increase or diminution of the capital stock, or the incurring, creating or increasing of any bonded indebtedness. 2.

Pages: 312

Publisher: Practicing Law Institute; Ord# 11926 edition (2007)

ISBN: 1402408587

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