Corporate Law Question Paper (Nov-Dec’ 2012)
Gauhati University B.Com 3rd Semester Question Papers
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate full marks for the questions)
1) Articles of Association of a company shall be _______.
a) Printed.
b) Divided into paragraphs numbered consecutively.
c) Signed by each subscriber.
d) All of the above.
2) On 14th October, the Registrar of companies issued a Certificate of Incorporation but it was dated 10th October instead of 14th October. From which date the company will legally come into existence?
a) 10th October.
b) 14th October.
c) 31st October.
d) None of the above.
3) Prospectus contains the matters as specified in
a) Schedule I.
b) Schedule II.
c) Schedule III.
d) Schedule IV.
4) The underwriting commission on shares must not exceed:
a) 2.0 percent of issued price of shares.
b) 2.5 percent of issued price of shares.
c) 5.0 percent of issued price of shares.
d) 5.5 percent of issued price of shares.
5) What is the remedy available to a person who has been induced to purchase the shares of a company by misrepresentation of material facts in prospectus?
a) He can recover damages from the company.
b) He can rescind the contract to purchase the share.
c) Both of these.
d) None of these.
6) Which of the following statement is correct?
a) A managing director must also be a director of a company.
b) A manager must also be a director of the company.
c) A manager must be a director of the company whereas managing director may or may not.
d) A managing director can be appointed for a period of 7 years at a time.
7) A company must have a whole time secretary if the paid up capital of the company is
a) 2 crore.
b) 5 crore.
c) 10 crore.
d) 20 crore.
8) Holding of statutory meeting is compulsory in which of the following cases?
a) Every public company limited by shares.
b) Every public company limited by guarantee having share capital.
c) Both (a) and (b).
d) Either (a) or (b) [Choose the correct option]
9) Granting of loan to a director of a public company requires approval of
a) Central Government.
b) Board of directors.
c) Members in general meeting.
d) Managing director.
10) Choose the appropriate number of members entitled to requisition an extraordinary general meeting in case of a company having share capital?
a) Members holding not less than 1/5th of the paid up capital.
b) Members holding not less than 1/10th of the paid up capital.
c) Any 100 member.
d) None of the above.
2. Answer the following in brief: 2x5=10
a) State the law as regards having own Articles of Association by a public company limited by share.
b) All the shares of one shareholder of a public company having 7 members are sold by the court in an auction and shares are purchased by another shareholder of the company. The company continues to carry on the business thereafter. Discuss the liability of the share-holders of the company under the Companies Act, 1956.
c) State in brief the law relating registration of prospectus.
d) Who is a small shareholder? Is it necessary for a company to appoint a director to represent the small shareholder?
e) Examine with reference to the provision of the Companies Act 1956 the validity of adjournment of extraordinary general meeting called upon the requisition of members on the ground that the quorum was not present at the meeting.
3. (a) Distinguish between either equity share and preference share. 4x5=20
Or
Fixed charge and floating charge.
(b) Write a short note on issue of sweat equity shares or issue of right shares.
(c) Write a note on meeting of director of a company.
(d) What are the businesses that may be transacted at an Annual General Meeting of a company?
Or
What do you mean by proxy? Explain the provisions relating appointment of proxy under Companies Act 1956.
4. (a) A company wants to change its object clause. Will it be possible for the company to change the object clause? If possible, narrate the procedure for the same. 4+6=10
Or
(b) Explain the principle laid down in ‘Royal British Bank vs. Turquand’. What are the exceptions to this principle?
5. When is an allotment of securities treated as an irregular allotment? State the effect of an irregular allotment. 5+5=10
Or
‘Every shareholder of a company is also known as a member while every member may not be known as shareholder.’ Examine the validity of the statement and point out the distinction between a member and a shareholder. Mention four rights of a member. 2+4+4=10
6. What is debenture? What are the different kinds of debentures that may be issued by a company? 2+8=10
Or
How can share capital of a company be reduced? What is the liability of members after reduction in share capital? 5+5=10
7. Who is a director of a company? How are the directors appointed by a company in general meeting? 2+8=10
Or
Describe the provisions of Companies Act with regard to the prevention of oppression and mismanagement of a company. 10
Also Read: Gauhati University B.Com Corporate Law Question Papers (Non-CBCS)
Also Read: Gauhati University B.Com Corporate Law Question Papers (CBCS)
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