Veil of Incorporartion

Topics: Executive director, Corporate governance, Non-executive director Pages: 2 (473 words) Published: September 16, 2013
Three friends named (Des, Satish & Emma) along the friend of Des named Ying have decided to setup the company named “OHS Solution Pty Ltd”. Which is the Portal hub, where business and individuals can access the information relating to the Occupational Health & Safety on free basis and they will earned the revenue by charging the advertiser companies who wish to advertised their business details on their website. All the four members have the equal share holding that is 25% each. Two of them are executive directors namely Des & Satish, whom are Managing director and IT Expert respectively, and another two are non-executive directors namely Emma & Ying, whom are Finance director & Guarantor of Business loan respectively. It has been successful since it has establish for last 6 months, but after that it has facing some problems, initially it had IT related problems which avert some of the advertiser’s material from being accessed. As Mr Satish who is IT expert and also the director of the OHS solution engage Trouble Shooters Pty Ltd in order to solve this issue. On February at board Meeting, Mr. Satish reveal that two of their business clients threaten to sue for breach of contrant as their were dissatisfy with the service of the OHS Solution Pty LTd. Emma the Finance director was unable to produce any financial statistic as her subordinate was sick and unable to keep the record up to date and Emma found that company owe large amount to Trouble shooter, Which company got engaged with Trouble shooters in order to solve the IT problems. On the other hand Des the managing director of the OHS Solution Pty Ltd is in disbelief, as Mr Satish told to MD that all the IT related issued has been solved since the engagement of Trouble Shooters on the basis of that Mr. Des signed one of the big advertising contract for the amount $ 10,000 with Promotion Plus Pty Ltd along to get access to trade show of OHS. This contract is very vital to bring back the company into prosperous...
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