CH 7 AUDIT MGT AND ADMN HARSH

: Vichar Vimarsh Limited called its Annual General Meeting on 20th September , 2022 to consider and adopt the financial result as of 31st March, 2022. Due to want of quorum the meeting was adjourned and the adjourned meeting was held on 27th September, 2022. What is the last date of filing of Annual Return with the Registrar of Companies:

1. (a)  60 days from the date of 31st March, 2022

2. (b)  60 days from the date of 20th September, 2022

3. (c)  60 days from the date of 27th September, 2022

4. (d)  60 days from the date of 30th September, 2022

• A

• B

• C

• D

First annual general meeting of the company should be held within ____ from the closing of the first financial year.

1. (a)  6 months

2. (b)  9 months

3. (c)  12 months

4. (d)  18 months

• A

• B

• C

• D

Which among the following companies is not required to provide its members the facility to exercise right to vote by electronic mode under the provisions of Companies Act, 2013?

1. (a)  B Limited, whose equity shares (the company is having both equity as well as preference shares) are listed on a recognised stock exchange

2. (b)  A Limited, whose equity shares (only type of share the company is having) are listed on a recognised stock exchange

3. (c)  C Limited, whose preference shares (the company is having both equity as well as preference shares) are listed on a recognised stock exchange

4. (d)  D Limited, whose equity shares as well as preference shares are listed on a recognised stock exchange

• A

• B

• C

• D

Vinod is a director of Prem Limited. He intends to participate in the board meeting through video conferencing and has intimated the same to the chairperson at the beginning of calendar year. Advise, Vinod for how long such declaration shall be valid.

1. (a)  1 month

2. (b)  6 months

3. (c)  1 year

4. (d)  She has to furnish declaration for each meeting separately

• A

• B

• C

• D

The Annual General Meeting of QRT Limited was scheduled on 21st January 2022. Mr A, shareholder of QRT Limited desires to inspect proxy forms lodged with the company. He requires to put notice in writing for inspection at least on or before _______

1. (a)  17th January 2022

2. (b)  18th January 2022

3. (c)  19th January 2022

4. (d)  20th January 2022

• A

• B

• C

• D

The Annual General Meeting (AGM) of Green Limited was held on 31.8.2022. Suppose the Chairman of the company after two days of AGM went abroad for next 31 days. Due to the unavailability of the Chairman, within time period prescribed for submission of copy of report of AGM with the registrar, the report as required was signed by two Directors of the company, of which one was additional Director of the company. Comment on the signing of this report of AGM.

1. (a)  Yes, the signing is in order as the report can be signed by any director in the absence of Chairman.

2. (b)  No, the signing is not in order as only the Chairman is authorised to sign the report

3. (c)  Yes, the signing is in order, as in the absence of Chairman at least two directors should sign the report.

4. (d)  No, the signing is not in order, since in case the Chairman is unable to sign, the report shall be signed by any two

   directors of the company, one of whom shall be the Managing director, if there is one and company secretary of the company

• A

• B

• C

• D

Case Study Based MCQ

Trusted Industries Limited (hereinafter referred as “Company”), a listed company on the National Stock Exchange (NSE) was holding its Annual General Meeting on 30th September 2019 at the large auditorium of its registered office in the city of Guwahati. The company wanted to apply the provision of the new mode of voting introduced in the Companies Act, 2013 which provided that a member in the prescribed class of companies can exercise his right to vote by electronic means. The company made all the arrangement relating to the holding of the meeting, especially for voting through electronic means. The company had sent notices to all concerned persons in the prescribed manner to enable them to carry out the procedure of voting. The company had clearly provided that the time for opening of e-voting shall remain open for not less than two days and shall close at 4 PM on the date preceding the date of the general meeting. The notice of the meeting provided the following information:

•   That the company is providing facility for voting by electronic means and the business may be transacted through such voting;

•   That the members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting but shall not been entitled to cast their vote again.

  Further, the company decided to publish a public notice by way of an advertisement in newspaper immediately on completion of dispatch of notices of the meeting. The company also specified in the notice that the remote e-voting will not be allowed beyond the specified date and time. The company appointed an independent Chartered Accountant in practice to be the scrutinizer for the remote e-voting process.

  The meeting was successfully conducted and as soon as the results of the voting were ascertained, the results were declared along with the report of the scrutiniser placed on the website of the company. The company had appointed an agency for the e voting and the results of the voting immediately thereafter were declared by the Chairman and were put up on the website of the agency.

What is the correct position with regard to the time for opening of e-voting?

1. (a)  The time for opening of e-voting shall remain open for not less than two days and shall close at 4.00 PM on the date preceding the date of the general meeting.

2. (b)  The time for opening of e-voting shall remain open for not less than three days and shall close at 4.00 PM on the date succeeding the date of the general meeting.

3. (c)  The time for opening of e-voting shall remain open for not less than three days and shall close at 5.00 PM on the date preceding the date of the general meeting.

4. (d)  The time for opening of e-voting shall remain open for not less than three days and shall close at 5.00 PM on the date succeeding the date of the general meeting.

• A

• B

• C

• D

Trusted Industries Limited (hereinafter referred as “Company”), a listed company on the National Stock Exchange (NSE) was holding its Annual General Meeting on 30th September 2019 at the large auditorium of its registered office in the city of Guwahati. The company wanted to apply the provision of the new mode of voting introduced in the Companies Act, 2013 which provided that a member in the prescribed class of companies can exercise his right to vote by electronic means. The company made all the arrangement relating to the holding of the meeting, especially for voting through electronic means. The company had sent notices to all concerned persons in the prescribed manner to enable them to carry out the procedure of voting. The company had clearly provided that the time for opening of e-voting shall remain open for not less than two days and shall close at 4 PM on the date preceding the date of the general meeting. The notice of the meeting provided the following information:

•   That the company is providing facility for voting by electronic means and the business may be transacted through such voting;

•   That the members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting but shall not been entitled to cast their vote again.

  Further, the company decided to publish a public notice by way of an advertisement in newspaper immediately on completion of dispatch of notices of the meeting. The company also specified in the notice that the remote e-voting will not be allowed beyond the specified date and time. The company appointed an independent Chartered Accountant in practice to be the scrutinizer for the remote e-voting process.

  The meeting was successfully conducted and as soon as the results of the voting were ascertained, the results were declared along with the report of the scrutiniser placed on the website of the company. The company had appointed an agency for the e voting and the results of the voting immediately thereafter were declared by the Chairman and were put up on the website of the agency.

• Regarding the putting up of results of the e-voting on the website, which of the statement is correct in connection with the procedure followed by the Company?

  1. (a)  It is sufficient to put up the results of the voting on the company’s website immediately after the meeting.

  2. (b)  It is essential to put up the results of the voting on the company’s website and also on the website of the agency

     immediately after the meeting.

  3. (c)  It is essential to put up the results of the voting on the company’s website and also on the website of the agency

     immediately after the meeting. Along with this, the company should simultaneously forward results to the concerned

     stock exchange(s) where the shares are listed.

  4. (d)  It is sufficient to put up the results of the voting on the company’s website immediately after the meeting and give

     a notice in the newspaper about the uploading of information on the website.

• A

• B

• C

• D

Trusted Industries Limited (hereinafter referred as “Company”), a listed company on the National Stock Exchange (NSE) was holding its Annual General Meeting on 30th September 2019 at the large auditorium of its registered office in the city of Guwahati. The company wanted to apply the provision of the new mode of voting introduced in the Companies Act, 2013 which provided that a member in the prescribed class of companies can exercise his right to vote by electronic means. The company made all the arrangement relating to the holding of the meeting, especially for voting through electronic means. The company had sent notices to all concerned persons in the prescribed manner to enable them to carry out the procedure of voting. The company had clearly provided that the time for opening of e-voting shall remain open for not less than two days and shall close at 4 PM on the date preceding the date of the general meeting. The notice of the meeting provided the following information:

•   That the company is providing facility for voting by electronic means and the business may be transacted through such voting;

•   That the members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting but shall not been entitled to cast their vote again.

  Further, the company decided to publish a public notice by way of an advertisement in newspaper immediately on completion of dispatch of notices of the meeting. The company also specified in the notice that the remote e-voting will not be allowed beyond the specified date and time. The company appointed an independent Chartered Accountant in practice to be the scrutinizer for the remote e-voting process.

  The meeting was successfully conducted and as soon as the results of the voting were ascertained, the results were declared along with the report of the scrutiniser placed on the website of the company. The company had appointed an agency for the e voting and the results of the voting immediately thereafter were declared by the Chairman and were put up on the website of the agency.

• With respect to the information in the notice of the meeting about the facility for voting by electronic means and remote e-voting, which of the following statement should be added to the notice?

  1. (a)  The notice is complete with respect to electronic voting and remote e-voting and hence no other information is needed.

  2. (b)  The notice should also provide that the facility for voting, either through electronic voting system or ballot or polling paper shall also be made available at the meeting.

  3. (c)  The notice should also provide that the facility for voting, either through electronic voting system or ballot or polling paper shall also be made available at the meeting and members attending the meeting who have not already cast their vote by remote e-voting shall be able to exercise their right to vote at the meeting.

  4. (d)  The notice should provide general information about the voting process and all detailed information shall be provided at the commencement of the meeting and also be uploaded / displayed on the company’s website.

• A

• B

• C

• D

Trusted Industries Limited (hereinafter referred as “Company”), a listed company on the National Stock Exchange (NSE) was holding its Annual General Meeting on 30th September 2019 at the large auditorium of its registered office in the city of Guwahati. The company wanted to apply the provision of the new mode of voting introduced in the Companies Act, 2013 which provided that a member in the prescribed class of companies can exercise his right to vote by electronic means. The company made all the arrangement relating to the holding of the meeting, especially for voting through electronic means. The company had sent notices to all concerned persons in the prescribed manner to enable them to carry out the procedure of voting. The company had clearly provided that the time for opening of e-voting shall remain open for not less than two days and shall close at 4 PM on the date preceding the date of the general meeting. The notice of the meeting provided the following information:

•   That the company is providing facility for voting by electronic means and the business may be transacted through such voting;

•   That the members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting but shall not been entitled to cast their vote again.

  Further, the company decided to publish a public notice by way of an advertisement in newspaper immediately on completion of dispatch of notices of the meeting. The company also specified in the notice that the remote e-voting will not be allowed beyond the specified date and time. The company appointed an independent Chartered Accountant in practice to be the scrutinizer for the remote e-voting process.

  The meeting was successfully conducted and as soon as the results of the voting were ascertained, the results were declared along with the report of the scrutiniser placed on the website of the company. The company had appointed an agency for the e voting and the results of the voting immediately thereafter were declared by the Chairman and were put up on the website of the agency.

• Regarding the newspaper advertisement as decided to be published by the company immediately on completion of dispatch of notices of the meeting, which of the following statement is correct?

  1. (a)  The newspaper advertisement should be made at least 21 days before the date of general meeting.

  2. (b)  The newspaper advertisement should be made at least 14 days before the date of general meeting.

  3. (c)  The newspaper advertisement should be made at least 7 days before the date of general meeting.

  4. (d)  The newspaper advertisement should be made at least 10 days before the date of general meeting.

• A

• B

• C

• D