Corporate Legislation in India Quiz

The first corpus of corporate legislation in India was brought about by:

• Companies Act of 1850

• Companies Act of 1956

• Companies Act of 1866

• Companies Act of 2013

The Companies Act, 2013 in India was introduced to:

• Promote secrecy in corporate governance.

• Encourage transparency and high standards of corporate governance.

• Reduce the number of companies in India.

• Eliminate the concept of corporate social responsibility.

The Companies Act, 2013 introduced concepts like:

• Independent director

• Secretarial audit

• Internal/secretarial audit based on threshold limits

• All of the above

The first Companies Act passed in India was:

• Companies Act, 1866

• Companies Act, 1956

• Companies Act, 1913

• Companies Act, 2013

Who chaired the Expert Committee on Company Law in India in 2004?

• Dr. J.J. Irani

• Dr. Manmohan Singh

• Dr. A.P.J. Abdul Kalam

• Dr. Raghuram Rajan

The Companies Act of 1850 in India was modeled after which English Act?

• English Joint Stock Companies Act 1844

• English Joint Stock Companies Act 1855

• English Companies Act 1862

• None of the above

Which of the following is NOT a concept introduced by the Companies Act, 2013?

• Independent director

• Secretarial audit

• Joint Stock Company Act, 1850

• Internal/secretarial audit based on threshold limits

The Indian Companies Act of 1850 enabled companies to:

• Gain limited liability

• Register and gain a juridical personality

• Both a and b

• None of the above

A company is

• An artificial person created by law,

• A natural person created by law,

• A partnership,

• A sole proprietorship.

10.The characteristic of perpetual succession means:

• • (a) The company has a limited life

• • (b) The company continues to exist despite changes in ownership or membership

• • (c) The company is automatically dissolved upon the death of a member

• • (d) The company has a fixed term of existence