B.Com 3rd Semester-Corporate Law (2016)

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GAUHATI UNIVERSITY

COMMERCE

PAPER - CORPORATE LAW (CRL)

B.Com 3rd Sem (2016)

1.(A) Choose the correct answer: (1x5=5)

 (i) Mention the maximum period of redemption in case of preference shares issued by the company.

(a) 10 years.

(b) 15 years.

(c) 20 years.

(d) 25 years.

(ii) A charge requiring registration shall be filed with the Registrar within___days.

(a) 21 days.

(b) 30 days.

(c) 45 days.

(d) None of the above.

(iii) Transfer of share is affected by 

(a) Sale.

(b) Death.

(c) Insolvency.

(d) None of the above.

(iv) Which of the following actions of a proxy is not allowed in a company meeting?

(a) Participation

(b) Speech

(c) Attendance

(d) Voting

(v) Corporate veil may be pierced if the company:

(a) Incurs losses

(b) Does not declare dividend 

(c) evades taxes 

(f) None of the above

B. State whether the following statements are True or False: (1x5=5)

(i) Public companies can commence their business after getting a certificate of incorporation.

(ii) A company dies with the death of all the members.

(iii) Minutes of a meeting have evidentiary value.

(iv) The Board of Directors of a company may appoint a person as an additional director if so authorized by Articles.

(v) The chief financial officer is not a Key Managerial Personnel of a Company as mentioned in Sec. 203 of the Companies Act, 2013.

2. Answer the following in brief: (2x5=10)

(a) What is a small company? Answer

(b) 'Certificate of incorporation is a conclusive evidence. Comment. Answer

(c) What is meant by buy-back of shares? Answer

(d) State the companies which must have a woman director on its Board. Answer

(e) How are the first directors of a company appointed? Answer

3. Answer the following in about 150 words: (4x5=20)

(a) Distinguish between fixed and floating charge. Answer

(b) State the contents of annual return. Answer

or

     State the provisions regarding forfeiture of shares. Answer

(c) State the disqualifications of director of a company. Answer

(d) State the various resolutions which can be passed in shareholders meeting of a company. Answer

4. Write about the name and registered office clause of Memorandum of Association. Answer

 State the procedure of alternation of these clauses after incorporation of a company. (5+5=10) Answer

or

     What are the Articles of Association of a Company? Answer

Discuss the limits upon the powers of a company to alter its Articles of Association. (3+7=10) Answer

5. (a) Explain the provisions of the Companies Act relating to the further issue of shares. Answer

    (b) What is underwriting of shares? (5+5=10) Answer

or

     Define the term share? Answer

    What are the different types of shares a company can issue? Answer

     How does it differ from stock? Answer

 (2+4+4=10)

6. What is meant by allotment of shares? Answer Discuss the rules regarding of allotment of shares in a company. Answer (2+8=10)

or

    State the reasons whether a minor can become a member of a company.  Answer

Under what circumstances does a person cease to be a member of a company? Answer (5+5=10) 

7. What are the powers of directors of a company? Answer

 Is there any restriction on powers of a director? Discuss. Answer (5+5=10)

or

    Where can the oppression and management be complained of in a company? Answer

What power does the tribunal have to prevent oppression and mismanagement in a company? Answer (5+5=10)