Quiz Unlimited

What is the primary purpose of winding up a company?

• To start a new business

• To close the company and distribute its assets

• To expand business operations

• To acquire another company

Who can file a petition for winding up a company under compulsory winding up?

• Creditors only

• Only the company itself

• Company, creditors, contributories, or the Registrar of Companies

• Only the Central Government

When a company is wound up, what is the order of payment priority?

• Creditors, employees, shareholders

• Shareholders, creditors, employees

• Employees, shareholders, creditors

• Employees, creditors, shareholders

Which of the following signifies the end of the winding-up process?

• Declaration of solvency

• Final meeting and dissolution of the company

• Settlement of initial debts

• Appointment of a liquidator

Which of the following is NOT considered Key Managerial Personnel (KMP) under the Companies Act, 2013?

• Chief Executive Officer (CEO)

• Chief Financial Officer (CFO)

• Internal Auditor

• Company Secretary (CS)

Who is responsible for appointing Key Managerial Personnel in a company?

• The shareholders

• The Board of Directors

• The Company Secretary

• The government

In a hostile takeover, how does the acquiring company take control of the target company?

• By obtaining approval from the target company’s management

• By purchasing shares directly from the open market against the wishes of the target company’s management

• By merging voluntarily with the target company

• By acquiring assets only

Which regulatory body in India oversees mergers and acquisitions to prevent monopolistic practices?

• Reserve Bank of India (RBI)

• Securities and Exchange Board of India (SEBI)

• Competition Commission of India (CCI)

• Ministry of Finance

When Indian Contract Act came into force?

• 1st September 1872

• 1st September 1882

• 1st August 1872

• 15th September 1872

When did Companies Act, 2013 received the presidential assent?

• 29th August 2013

• 12th September 2013

• 15th August 2013

• 26th January 2013