CGBl

Q.1 Every officer of a company shall endeavor to prevent the commission of any fraud, offences of money laundering with respect to affairs of the company and shall take adequate measures for this purpose. If a person fails to comply with it, he shall be liable with fine, which may extend to -------------------------------------------------------------------- (August 2024)

a) Rs. 50 million. c) Rs. 25 million. b) Rs. 10 million. d) Rs. 100 million.

2. Under section 79 of the companies Act, 2017, who among the following persons cannot be nominated by a member of a company to protect the interest of his legal heirs in the shares held by him in the event of his death.

a) His brother and sister. c) His father and mother. b) His spouse. d) His stepson and daughter.

3. Under section 19 of the companies Act, 2017, a public company shall not start its operations or exercise any borrowing powers unless (select the wrong option)

a) shares held subject to payment of the whole amount thereof in cash have been allotted to an amount not less in the whole than the minimum subscription and the money has been received by the company. b) every director of the company has paid to the company full amount on each of the shares taken or contracted to be taken by him and for which he is liable to pay in cash. c) in the case of a company which has not issued a prospectus inviting the public to subscribe for its shares, there has been filed with the registrar a statement in lieu of prospectus as per the third schedule annexed to this act. d) no money is or may become liable to be repaid to applicants for any shares which have been offered for public subscription.

. In which of the following ways, documents or information may be served on a company. (April 2024)

a) through electronic means. b) by post or courier service. c) documents or information may be served on a company in all of the following stated ways. d) At the registered office of the company against an acknowledgement.

5. In accordance with the section 83 of the companies act 2017, issue of further shares to increase share capital of a company shall be offered to existing members. The letter of offer shall limit a time not being less than --------- and not exceeding from the date of the offer within which the offer, shall be deemed to have been declined. (April 2024)

a) fifteen days, twenty-five days. c) ten days, twenty-five days. b) fifteen days, thirty days. d) ten days, thirty days.

6. In accordance with the regulation 11 of the companies (incorporation) regulations 2017, in case any discrepancies and deficiencies are observed in the documents submitted for registration of a company, the applicant shall remove the discrepancies and provide requisite information within ----------------------------------------------------------------------------- days of written communication from the registrar.

a) fifteen days. c) ten days. b) seven days. d) fourteen days.

7. In accordance with section 47 of the Companies Act 2017, a private company may be converted into a single member company by fulfilling certain conditions, which include all of the following except:

) compliance with all other requirements as may be specified. b) amendment in its memorandum and articles of association, in such a manner that they include the provisions relating to a single-member company in the articles. c) passing an ordinary resolution in this behalf by the private company. d) prior approval of the commission in writing.

8. According to section 27 of the listed companies (code of corporate governance) regulations 2019, who may be member(s) of audit committee. ) a)an independent director. c) chief executive officer. b) both chief executive officer and the chief financial officer. d) chief financial officer.

9. As per section 73 of the companies Act 2017, if a company for any reasonable cause is unable to issue duplicate certificate, it shall notify the fact, along with the reasons within from the date of application, to the applicant. a) twenty days. c) thirty days. b) seven days. d) forty five days.

10. As per section 82 of the companies Act 2017, which one of the following statements in relation to issue of shares in the company at a discount is not correct? a) issue of shares at a discount shall be deemed to be reduction of capital. b) every prospectus relating to the issue of shares, and every statement of financial position issued by the company subsequent to the issue of shares, shall contain particulars of the discount allowed on the issue of shares. c) the issue of shares at a discount must be authorized by special resolution passed in the general meeting of the company. d) any violation of the section shall be an offence liable to penalty of level 3 on the standard scale.