The capital with which a company is registered is called
A. Working capital
B. Subscribed capital
C. Authorized capital
D. None of the above
Select an option to see the answer and solution.
Which of the following is most essential for a company?
A. Memorandum of Association
B. Share Capital
C. Prospectus
D. Certificate of Incorporation
Select an option to see the answer and solution.
What is the maximum number of partners in Banking business
A. Eight
B. Ten
C. Twelve
D. Sixteen
Select an option to see the answer and solution.
Under the Companies Act, 2013, a private company can borrow funds for its financial needs from
A. Directors, banks and financial institutions
B. Directors, shareholders and relatives of directors
C. Directors
D. Banks and financial institutions
Select an option to see the answer and solution.
Liability of directors of a public company is towards
A. Shareholder of the company
B. Public
C. Government
D. Company Law Board
Select an option to see the answer and solution.
A shareholder of a company can enter into a contract with a company because it is a separate legal entity from its shareholders' was held in
A. Dalmer Company v. Continental Type Company
B. Ashbury Railway Carriage and Iron Company v. Rick L. R.
C. Solomon v. Solomon
D. S. T. Corporation of India v. Commercial Tax Officer
Select an option to see the answer and solution.
Which of the following services cannot be provided to the Company by an auditor appointed under the provisions of the Companies Act, 2013
A. Internal Audit
B. Actuarial Services
C. Managerial Services
D. All of these
Select an option to see the answer and solution.
Which of the following actions can be taken by a Registrar under section 4(5) of the Companies Act, 2013
A. He can direct the Company to change it's name within a period of 6 months after passing an ordinary resolution
B. Take action for striking off the name of the Company from the registrar of Companies
C. Order winding up of the Company on his own accord
D. All of these
Select an option to see the answer and solution.
In case of Private Company, as per section 2(68) of the Companies Act, 2013, what is the minimum paid up capital?
A. No minimum amount prescribed
B. 1 lakh rupees
C. 5 lakh rupees
D. 10 lakh rupees
Select an option to see the answer and solution.
"Directors are agents of the company". In which of the following cases above principle was laid down. Answer using given below:
(1) Ferguson v. Wilson
(2) Elkington and Co. v. Harter
(3) Hampshire Land Co., Re
(4) Allen v. Hyatt
A. Only (1)
B. Only (1) and (2)
C. Only (1), (2) and (3)
D. (1), (2), (3) and (4)
Select an option to see the answer and solution.
Equality means
A. Literal equality
B. Proportional equality
C. Both (A) and (B)
D. Neither (A) nor (B)
Select an option to see the answer and solution.
Read Assertion (A) and Reason (R) and answer by using given below:
Assertion (A): Under the Company Law, though any outsider is presumed to be aware of the documents which are publicly accessable, but not the internal proceedings of which he can not reasonably aware of, because those are not accessible to the public.
Reason (R): The Doctrine of indoor management evolved as a partial exception to the Doctrine of Constructive Notice and the rule was laid down in Royal British Bank v. Turquand.
A. Both (A) and (R) are correct and (R) is the correct explanation of (A)
B. Both (A) and (R) are correct but (R) is not the correct explanation of (A)
C. (A) is true but (R) is false
D. (A) is false but (R) is true
Select an option to see the answer and solution.
A Prospectus which does not include complete particulars of the quantum or price of the securities included therein in known as:
A. Shelf Prospectus
B. Memorandum
C. Red Herring Prospectus
D. Issuing house
Select an option to see the answer and solution.
The minimum number of the members for a private company and for a public company are respectively
A. 10 and 50
B. 10 and 100
C. 7 and 2
D. 2 and 7
Select an option to see the answer and solution.
Ashbary Railway Carriage & Iron Co. v. Riche is the case which is related with which topic of the Company Law?
A. Doctrine of indoor management
B. Doctrine of ultra vires
C. Prospectus of company
D. Promoters of company
Select an option to see the answer and solution.
The Minimum number of persons required to incorporate a Public Company is
Select an option to see the answer and solution.
A foreign company intends to merge with an Indian Company. As per the relevant provision in the Companies (Compromises, Arrangements and Amalgamation) Rules, 2016, it needs to obtain prior approval of
A. Cabinet Committee on Economic Affairs
B. Securities and Exchange Board of India
C. Reserve Bank of India
D. Department of Economic Affairs
Select an option to see the answer and solution.
Which of the following actions can be taken when an issue is made under the provisions of Section 42 of the Companies Act, 2013?
A. An advertisement can be issued in a local newspaper having city coverage
B. The money payable towards subscription can be received in cash
C. The share can be allotted within sixty days of the date of offer
D. The offer can be made to a maximum of fifty people
Select an option to see the answer and solution.