1. Issuance of a share warrant is necessary, so that __________
A. Shares are fully paid up
B. Shares are paid up to 50%
C. Shares are paid up to 25%
D. Shares are paid up to 10%
✅ The correct answer is option A.
Company Law
2. From below, point out which of the following is not a requirement or condition needs to be complied with to make allotment of shares effective__________
A. Allotment by proper authority
B. Within reasonable time
C. Absolute and unconditional
D. Issuance of a certificate.
✅ The correct answer is option D.
3. Which of the following is not the way of acquiring a membership of the a company under the Companies Act, 1956___________
A. By allotment of shares
B. By transfer of shares
C. By appointment.
D. By nomination.
✅ The correct answer is option C.
4. Who of the following persons brings about the incorporation, and organization of a company ______________
A. A member
B. A promoter
C. A manager
D. A director
✅ The correct answer is option B.
5. Which of the following sections, allows alteration of objects clause within certain defined limits______________
A. Section 15
B. Section 16
C. Section 17
D. Section 18
✅ The correct answer is option A.
6. “Directors are trustees of the company and not of individual shareholders”. This principle was laid down in_____________
A. Perceival v/s. Wright
B. Ramswamy Iyer v/s. Brahmayya & Co.
C. Ferguson v/s. Wilson
D. Lee v/s. Lee’s Air Farming Ltd
✅ The correct answer is option A.
7. No company limited by shares shall issue any preference share which is redeemable or irredeemable after the expiry of a period of____________
A. One year from the date of issue
B. Two year from the date of issue
C. Five years from the date of issue
D. Ten years from the date of issue
✅ The correct answer is option D.
8. Annual Returns are required to be filed within___________
A. Within 30 days from the date annual General Meeting
B. Within 60 days from the date of the Annual General Meeting
C. Within 90 days from the Date of the Annual General Meeting
D. Within six Months from the date of the Annual General Meeting
✅ The correct answer is option B.
9. The public trustee may attend the meeting of the company_______
A. Himself
B. Appoint a government officer
C. Both a and b.
D. Secretary.
✅ The correct answer is option C.
10. In one particular year, the company can close the Register for a period of, ____
A. Seven days at any one time
B. Fourteen days at any one time
C. Twenty-one days at any one time
D. Thirty days at any one time
✅ The correct answer is option D.