Question 4 (( 350 words ))
Mr. Ibrahim and his friends started working towards forming anLLC and submitted their application for the formation. They decided to have a total Share Capital contribution to RO. 15,000 and also had intentions to have additional RO. 6,000 raised by public subscription; but maintained all details confidential. The application was analyzed carefully by the team involved in registration and rejected the same on the grounds of incompleteness. The committee further added that norms are not met and hence asked Mr. Ibrahim to comply with all requirements with a time period of 6 months or to bear the after effects.
Answer the following:
a) Analyse the facts related to the case. (4 Marks)
b) Discuss the reasons for rejection of the application by the Authorities with reference to Oman Commercial Company Law (4 Marks)
c) Discuss the after effects of non-compliance with the rules of formation. (2 Marks)
Mr. Ibrahim and his friends started working towards forming anLLC and submitted their application for the formation. They decided to have a total Share Capital contribution to RO. 15,000 and also had intentions to have additional RO. 6,000 raised by public subscription; but maintained all details confidential. The application was analyzed carefully by the team involved in registration and rejected the same on the grounds of incompleteness. The committee further added that norms are not met and hence asked Mr. Ibrahim to comply with all requirements with a time period of 6 months or to bear the after effects.
Answer the following:
a) Analyse the facts related to the case. (4 Marks)
b) Discuss the reasons for rejection of the application by the Authorities with reference to Oman Commercial Company Law (4 Marks)
c) Discuss the after effects of non-compliance with the rules of formation. (2 Marks)
