Ooregum Gold Mining Co of India v Roper
Ooregum Gold Mining Co of India v Roper [1892] AC 125 is an old and controversial English company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued. Under United Kingdom company law the rule is now codified in Companies Act 2006, sections 552 and 580.
SECTION 48 OF COMPANIES ACT 71 OF 2008: A CRITICAL ...
capital.16 The interest of creditors in a company‟s capital is derived from the fact that, as Lord Halsbury put it in Ooregum Gold Mining Company of India Ltd v Roper17, "… every creditor of the company is entitled to look to that capital as security." Shareholders have an even more direct interest in the company‟s
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Ooregum Gold Mining Co of India v Roper[1892] AC 125 is an old and controversial English company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued. Under United Kingdom company lawthe rule is now codified in Companies Act 2006, sections 552 and 580. Facts
List of Top Metals and Mining Companies in India
Coal India Limited (CIL) is a state-owned coal mining corporation which came into existence in November 1975. It has been awarded the status of Maharatna company. With its normal production of 79 million tonnes (MT) in the year of its establishment, Coal India Limited is today the world's largest coal producer. CIL circulated through 83 minin...
Malaysian Company Law under the Companies Act 2016 ...
-Rule in Ooregum Gold Mining Co of India Ltd v Roper (1892)- Companies cannot issue shares at a discount . ... •The rule in Ooregum's case was given statutory recognition in s 58 CA 1965, but ... company in a securities account in accordance with the
Issuing share at premium or at discount
Sir kindly explain the case of 'Ooregum Gold Mining Co of India V Roper 1982' July 2, 2016 at 12:24 pm #324582. MikeLittle. Keymaster. Topics: 26; Replies: 22248 ☆☆☆☆☆ Shareholders wanted the company to issue additional shares credited as 1 pound each fully paid whilst only ask the buyers of those shares to pay just 5 shillings ...
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Gold and the economy. Gold mining is a major economic driver for many countries across the world. Well-managed, transparent and accountable resource extraction can be a major contributor to economic growth due to the creation of employment and business opportunities for local people.
Gold Mining | Gold Production | World Gold Council
Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. Mines and gold mining operations have become increasingly geographically diverse, far removed from the concentrated supply of four decades or so ago when the vast majority of the world's ...
the company is that a director must at all times ensure ...
Shares cannot be issued at a discount. - Ooregum Gold Mining Co of India v. Roper (1892) 3. According to section 67(1), company cannot provide financial assistance to buy shares unless it falls under the exceptions of section 67(2)-(beneficial ownership, lending money is the ordinary course of business, employee share scheme) 4.
Translation of Ooregum Gold Mining Co of India v Roper in ...
Ooregum Gold Mining Co of India v Roper [1892] AC 125 is an old and controversial UK company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued. See more at Wikipedia.org...
Madanlal Fakirchand Dudhediya V. Shree ... - india.lawi.asia
The amount is to be paid and the whole amount to be paid in cash, and to me it appears, looking at the latter part of the section whereby a contract made and filed may. qualify and cut down the form of payment, and that it may be in goods or in value received in some. form, instead of in cash, it must nevertheless be payment."
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The strictness of this rule may be seen in Ooregum Gold Mining Co of India v Roper （1892）． In that case the shares in the company, although nominally ￡1, were trading at 12·5p. In an honest attempt to refinance the company, new ￡1 preference shares were issued and credited with 75p already paid （note the purchasers of the shares were
Trevor v Whitworth and similar court cases | Frankensaurus.com
Ooregum Gold Mining Co of India v Roper Old and controversial English company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued.
Ooregum gold mining co of india v roper definition by ...
Ooregum Gold Mining Co of India v Roper [1892] AC 125 is an old and controversial UK company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued. See more at Wikipedia.org...
294 THE SOUTH AFRICAN LAW JOURNAL CAN SHARE …
to as 'the Act') by the Companies Amendment Act 37 of 1999 made ... asbetweentheshareholders.AsGalgutJputitinEx parte Vlakfontein Gold Mining Co Ltd 1970(2)SA180(T)at183,oneofthedutiesofthecourt ... HalsburysaidinOoregum Gold Mining Co of India …
3PLR – WELTON V. SAFFERY – Judgements
The difficulty which I have felt in this case is one which I casually encountered, without requiring to solve it, in Ooregum Gold Mining Company of India v. Roper. (1)In the present case, my difficulty assumes this form: do the contracts, under which the appellant's shares were issued and accepted by him, contain a severable and valid ...
The Doctrine Of Capital Maintenance Law Company Business ...
Also similar to this issue is the case of Ooregum Gold Mining Co of India v Roper [1892] AC 125. This involved a case of devaluing the shares of a company which the judge ruled was a prohibited practice. More than that, section 831 (1) of the Companies Act 2006 further restricts public companies …
THE PAR VALUE OF SHARES: AN IRRELEVANT I. Introduction
Ooregum Gold Mining Company of India v Roper [1892] AC 125. In this landmark case, a company purported to issue £1 preference shares credited with 15 shillings paid up, leaving only five shillings to be paid on allotment, ie, the shares were issued at a discount to the par value.
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La India mine contains about 675,000 ounces of gold in mineral reserves and it is expected to produce 120,000 ounces of the precious metal annually from …
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Ooregum Gold Mining Co of India, Ltd v Roper (1892) established that shares could not be issued at a discount. Lord Halsbury LC said at 133: 'My Lords, the whole structure of a limited company owes its existence to the Act of Parliament, and it is to the Act of Parliament one must refer to see what are its powers, and within what limits it is free to act.
Ooregum Gold Mining Co of India v Roper - Wikipedia
Ooregum Gold Mining Co of India v Roper AC 125 is an old and controversial English company law case concerning shares. It concerns the rule that shares should not be issued "at a discount" on the price at which they were issued. Under United Kingdom company law the rule is now codified in Companies Act 2006, sections 552 and 580. 1. Facts
(b) issuing shares at a discount. -
. (b) issuing shares at a discount. (b) It is a long established rule that companies are not permitted to issue shares for a consideration that is less than the nominal value of the shares together with any premium due. The strictness of this rule may be seen in Ooregum Gold Mining Co of India …
Malaysia company law share capital - Smart Academic Writing
A company that issues and allots shares to shareholder as being fully paid up when in fact the company has only received an amount less than the nominal or par value of those shares has engaged in an issue and allotment of shares at a discount: Ooregum Gold Mining Co of India …
Maurer School of Law: Indiana University Digital ...
as a "leading case " on a very important question of the law of private corporations. The case is that of The Ooregum Gold Mining Company of India v. Roper, and is reported in [1892] A. (. 125, H. L. The facts were these. The Ooregum Gold Mining Company, being on the verge of bankruptcy, held a general meeting of
Sold Price: Ooregum Gold Mining Company of India, Limited ...
View sold price and similar items: Ooregum Gold Mining Company of India, Limited from HWPH Historisches Wertpapierhaus AG on Invalid date CEST. London, 3 October 1922, Dividend Receipt for £ 6.9.0, #649, 15.1 x 20.5 cm, black, beige, red, stamp, hole, a bit tanned.
Gold, Indian Mineral Resource
Karnataka: Kolar Gold field has been functioning since from1871 when mining first started in Ooregum mines, Hutti, Topuldedi and wondalli. The Hutti gold mines, which is owned by the government of Karnataka expects its gold production to touch 3.5 tonnes in 3 to 5 years from now, from the current 2.8 tones. It is the only company in India which ...
Standard Livestock Company v. Bank of California, National ...
Whitworth, 12 App. Cas. 409; Ooregum Gold Mining Co. of India v. ... eighth circuit had under consideration the act of a board of directors of a national bank in handling loans made to a mining company. The bank had loaned the company moneys and had thereafter obtained judgment in the sum of $4,500. ... Case, 99 U.S. 628, 631 [25 L.Ed. 448, see ...
Compay 8: Capital Flashcards | Quizlet
Ooregum Gold Mining Co of India issued 120,000 shares at 1 each. Shareholders said they wanted to sell on the shares for 5 shillings, (i.e. 25 new pence) one quarter of the value the shares were issued at, but that the buyers would be credited with a full 1 in the company.
Company Law - Capital Cases Flashcards | Quizlet
Ooregum Gold Mining Co of India v Roper. Doctrine of Capital Maintenance Dividends/Distributions Issuing Shares at a discount ... Company law cases 43 Terms. ashleighc121. Company Law - Corp Rescue Cases 30 Terms. houziwang. Business entities: …
Durham Mining Museum - Stock Exchange Information
In the case of companies worked upon the cost-book principle the laws of ordinary partnership prevail as regards the liability of shareholders ; it is quite unlimited. ... Ooregum Gold Mining Company of India, Limited. — Directors: M. Low (Chairman), Col. C. S. Blair, W. G. Probyn, and Genl. J. Travers.