CA Inter Company Law - Preliminary 1 / 20 Property of the Company belongs to ------------. Company Shareholders Members Promoters 2 / 20 Everything which is done in the company will be known by the name of the company? Yes No Partly Yes Partly No 3 / 20 Every Private Company must have at least ________ Directors 7 3 2 1 4 / 20 Maximum paid up share capital in case of Private Company------------. Rs. 50 Lakhs Rs. 1 Crore Unlimited None of the above 5 / 20 According to Section 2(42) of the Companies Act, 2013, Foreign Company means any company or body corporate incorporated outside India which----------- Company or body corporate incorporated outside India and majority of shareholders are out of India Conduct any business activity in India in any manner Has a place of business in India whether by itself or through agent, physically or through electronic mode All of the above 6 / 20 The ‘common seal’ of the company should have……………… The company’s name The words ‘corporate seal’ The place of the company All the above 7 / 20 Legal position of a promoter of a company is……. That of an agent That of a trustee That of a solicitor In a fiduciary capacity 8 / 20 Which of the following isn't a kind of company? Company Limited by Guarantee Company Limited by Shares Unlimited Company Personal Liability Company 9 / 20 Life Insurance Company is which type of company? Statutory Company Chartered Company Registered Company None of the above 10 / 20 A company is not an agent of members or directors. True or False. True False Partly True Can’t say 11 / 20 Vivek is in trading business whereby he supplies handmade gloves and socks to many charitable trusts who supports the elderly people. Vivek now wants to expand his business and wants to reap the benefits of company form of oragnisation by opening his business as an OPC registered under section 8 of the Companies Act, 2013. Advise Vivek: Vivek cannot form an OPC as he is in trading business Vivek cannot form an OPC to be registered under section 8 of the Companies Act, 2013 Vivek can form an OPC to be registered under section 8 of the Companies Act, 2013 Vivek can form an OPC as a private company and then convert it into a section 8 company 12 / 20 In case of Company Limited by Guarantee, the liability of subscriber to MOA arises in the event of___________ Merger Demerger Reconstruction Winding Up 13 / 20 The official signatures of the company are called ___________ Company Seal Official Seal Corporate Seal Common Seal 14 / 20 Maximum annual turnover in case of One Person Company------------. Rs. 2 Crore Rs. 1 Crore Rs. 10 Crore Rs. 5 Crore 15 / 20 Shares of unlisted companies are not freely tradable. True or False. True False Partly True Partly False 16 / 20 Section 8 of the Companies Act, 2013 deals with which type of company ------- Banking Company Investment Company Financial Company Non Profit Company 17 / 20 Which of the following statement is false about Section 8 Company? It doesn't intend to pay dividend It can‟t amalgamate with other Companies License is granted by CG Partnership firm can become its member 18 / 20 Member may come & member may go but company continues forever. This Principal is called____________ Separate Legal Entity Body Corporate Corporation Soul Perpetual Succession 19 / 20 Angel Infrastructures Pvt. Ltd. with a paid up capital of Rs.45 Lacs and annual turnover of Rs.175 Lacs, is a wholly owned subsidiary of Almightly Infrasturcture Development Ltd. a listed company. Can Angel Infrastructures be called a small company? Yes. The paid up capital and annual turnover of Angel Infrastructure Pvt. Ltd. is not exceeding the limit as specified under the definition of Small company. No. Because Angel Infrastructure Pvt. Ltd. is a wholly owned subsidiary company. No. Because Angel Infrastracture Pvt. Ltd. is not a subsidiary of a listed company. No. Because the paid up capital is Rs. 45 lacs less than prescribed limit of Rs. 50 Lacs but its turnover is exceeding Rs.100 Lacs. 20 / 20 Rule 10 of Companies (Miscellaneous) Rules, 2014 states that Illegal Association is a partnership consisting of more than _______ persons. 10 20 50 100 Your score is LinkedIn Facebook Twitter 0% Restart quiz CA Inter Law Company Law - INCORPORATION OF COMPANY AND MATTERS 1 / 16 A section 8 company can call its general meeting by giving a clear at least _________ notice. 7 days 14 days 21 days 27 days 2 / 16 A company registered with the name of a trade mark already in existence: Central Government can give it an order anytime to change its name Company will have to change its name within 3 months from the order of Central Government Trademark owner will make complaint within three years All of the above 3 / 16 Tweeter Ltd. has invested 51% in the shares of Snapchat Pvt. Ltd. on 31 March 2018. Snapchat Pvt. Ltd. have been holding 2% equity of Tweeter Ltd since 2011. Snapchat Pvt. Ltd. wants to increase its holdings in equity upto 4% in Tweeter Ltd. after 31 march 2017.Can Snapchat Pvt. Ltd. increase its holdings in equity upto 4% in Tweeter Ltd. after 31 march 2018? Yes; it can increase its holdings No; it cannot increase its holdings Can't say None of the above 4 / 16 The Registrar shall register any alteration of the memorandum with respect to the objects of the company and certify the registration within a period of ______ from the date of filing of the special resolution. 30 days 60 days 90 days 6 months 5 / 16 If a company changes its name; which of the following is most accurate: It is not allowed to use old name in any way New name should not be identical with old name Old name should be painted/printed for next 1 years along with new name Old name should be painted/printed for next 2 years along with new name 6 / 16 A director member deposited with company ` 5000 and demanded that AGM notice should be sent by Blue Dart courier only. Is that company bound to serve it that way only? Yes because he is a director No because company is allowed to serve documents by ordinary post Yes because member has deposited money No because directors can't get special privileges 7 / 16 Which one of the following statements is least likely to be true. A company is a subsidiary if another company: exercises more than 50% of the total voting power controls the composition of its board of directors is subsidiary of a company which is subsidiary of the first mentioned company is holding of a company which is the holding for the first mentioned company 8 / 16 Only a natural person who is an Indian citizen and who has stayed in India for a period of at least _____ days during the immediately preceding one calendar year shall be eligible to incorporate a OPC. 180 days 181 days 182 days 183 days 9 / 16 AOA of a private company says that Preference shareholders will have right to vote only if last 3 years dividend is not paid. This is: Void as it is against the companies act Valid because section 47 is applicable to a private company subject to AOA. Void because as per section 6 act is superior Valid because companies act allows voting power to preference shareholders if there dividend is not paid for last 3 years. 10 / 16 The minimum number of members in a private company and public company are Three and Seven respectively Two and seven respectively Two and nine respectively None of the above 11 / 16 XYZ Co; is having 15% share capital held by X Company and 50% held by central Government and 10% held by State Government and 25% held by other people then that company will be _________ . Government Company Private Company Public Company None of these 12 / 16 "A not for profit company shall not alter the provisions of its memorandum or articles". False; it can freely change it False; It can do so with permission of Central Government True; because it will be violation of terms of licence True; because MOA/AOA of a section 8 company is unalterable 13 / 16 Forms of (1) Articles of guarantee company having a share capital (2) Articles of a guarantee company not having a share capital (3) Memorandum of an unlimited company with share capital (4) Memorandum of a company limited by shares; are respectively given in: Table G; H; E & B Table G; H; E & A Table G; H; D & A Table G; H; B & A 14 / 16 If a company is registered by incorrect information then its winding up may be ordered by: Central Government Registrar of Companies National Company Law Tribunal Court 15 / 16 To entrench its article after incorporation a public company: will have to pass a special resolution will have to take consent of all members is not allowed to do so will have to pass special resolution and take approval of 16 / 16 Which one of the following is not the content of the Memorandum of Association? Name clause Registered office clause Objects clause Board of Directors clause Your score is LinkedIn Facebook Twitter Restart quiz
