Company Law quiz

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ID Questions Image
1 According to section 457 of Companies Act 1956, the
liquidator (winding up by court) has the powers to :
[] to institute or defend any suit, prosecution, or other
legal proceeding,
[] to raise on the security of the assets of the company
any money requisite
[] to sell the immovable and movable property and
actionable claims of the
company by public auction or private contract
[] to carry on the business of the company so far as may
be necessary
2 Under section 462, the liquiditor keeps, reports and gets the
accounts audited as under : (specify the duties of liquidator).
 [] The liquidator shall, at such times as may be
prescribed but not less than twice in
each year during his tenure of office, present to the
Court an account of his receipts and payments
[] The account shall be in the prescribed form, shall be
made in duplicate, and shall be
verified by a declaration in the prescribed form.
[] The Court shall cause the account to be audited in
such manner as it thinks fit;
[] The liquidator submits his accounts to the company,
which is being liquidated.
3 court cannot stop winding up of a company, once it has
started it
() Correct
() Incorrect
4 According to section 477, the court cannot ask a person to
give details about company property just on suspection.
() Correct
() Incorrect
5 ACCORDING TO SECTION 478 THE COURT HAS
POWER TO ORDER PUBLIC EXAMINATION OF
PROMOTERS, DIRECTORS, ETC. REGARDING
WINDING UP OF A COMPANY
() Correct
() Incorrect
6 According to section 509, after the winding up of a company,
liquidator shall call a general meeting of the company and a
meeting of the creditors for the purpose of laying the account
before the meetings and giving any explanation thereof.
() Correct
() Incorrect
7 A COMPANY CAN BE APPOINTED AS A LIQUIDATOR.
() Correct
() Incorrect
8 Liquidator need not inform others about his appointment.
() Correct
() Incorrect
9 The central government cannot stop transfer of shares in a
democratic country like ours.
() Correct
() Incorrect
10 A company can inform to the registrar about change in its
address in 1 year.
() Correct
() Incorrect
11 Index of members is not compulsory, only register of
 members is compulsory.
() Correct
() Incorrect
12 SEBI appoints public trustees.
() Correct
() Incorrect
13 Register of members and debentureholders cannot be closed.
() Correct
() Incorrect
14 A company limited by shares / guarantee shall a period of not
less than one month nor more than six months from the date at
which the company is entitled to commence business, hold a
general meeting of the members of the company, which shall
be called "the statutory meeting". (section 165)
() Correct
() Incorrect
15 Statutory report is presented in statutory meeting itself to the
members.
() Correct
() Incorrect
16 What are the contents of a statutory report ? (section 165(3))
[] an abstract of the receipts of the company and of the
payments
[] the total amount of cash received by the company in
respect of all the shares allotted,
[] the total number of shares allotted
[] names and addresses of directors
[] names and addresses of creditors
17 Two AGMs can have a gap of maximum 18 months.
() Correct
() Incorrect
18 According to section 171, A general meeting of a company
may be called by giving not less than twenty-one days' notice
in writing.
() Correct
() Incorrect
19 According to section 175, chairman of the company is also
the chairman of the AGM.
() Correct
() Incorrect
20 According to section 176, a shareholder can appoint a proxy,
who will speak on his behalf.
() Correct
() Incorrect
21 According to section 205A, unpaid dividend is kept by
company in capital reserve.
 () Correct
() Incorrect
22 The accounts of a holding company will also include the
following regarding subsidiary company
a copy of the balance sheet of the subsidiary;
(b)
(d) a copy of the report of its auditors;
(e
[] a statement of the holding company's interest in the
subsidiary
[] a copy of its profit and loss account and balance sheet
[] a copy of the report of its Board of directors
[] a copy of the report of its auditors
[] a copy of creditors of the subsidiary