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Sunday, February 17, 2019

Gauhati University QuestioAn Papers:REGULATORY FRAMEWORK IN BUSINESS II (May-June’ 2015)


Gauhati University Question Papers
REGULATORY FRAMEWORK IN BUSINESS II (May-June’ 2015)
Full Marks: 80
Time Allowed: 3 hours
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. (A) Choose the most appropriate answer from the multiple choices given against the following questions:      1x5=5

a)      The provisions regarding maximum number of members in a partnership are given in –
1)      The Partnership Act.
2)      The Companies Act.
3)      The Contract Act.
4)      The Societies Registration Act.
b)      As per the Consumer Protection Act, 1986, ‘District Forum’ is established in each district by –
1)      Deputy Commissioner of the district.
2)      District Judge.
3)      State Government.
4)      Central Government.
c)       The Right to Information Act, 2005 came into force with effect from –
1)      12th October, 2005.
2)      12th October, 2006.
3)      21st October, 2005.
4)      21st October, 2006.
d)      As per the Foreign Exchange Management Act, 1999, currency includes –
1)      Currency notes.
2)      Credit card.
3)      Promissory notes.
4)      All of the above.
e)      The Information Technology Act, 2000 is applicable to –
1)      Will.
2)      Bill of exchange.
3)      Cheque.
4)      Power of attorney.
(B) State whether the following statement are correct or incorrect:                                         1x5=5
a)      A minor cannot be a full-fledged partner, although a minor can be admitted to the benefits of existing partnership.
b)      Deepika Padukon purchases a bicycle for her personal use from Salman Khan Cycle Mart. Deepika Padukon is a consumer as per Consumer Protection Act, 1986.
c)       Guwahati University falls within the definition of Public Authority under the Rights to Information Act, 2005.
d)      ‘Non-Resident Indian’ means an individual resident outside India who is a citizen of India or is an individual of Indian origin as per Foreign Exchange Management Act, 1999.
e)      Registration of Patent is compulsory.
2. Answer the following questions (any five):                                     2x5=10
a)      Sarbeswar, Homeswar, Dimbeswar, Dhareswar and Praneswar, all adult members of a joint Hindu family convert their family business into a partnership. Is the partnership valid?
b)      Mahendra Singh Dhoni enters into a partnership with Sunumunu, a minor, for the benefit of Sunumunu. Is the partnership valid?
c)       Define the term ‘consumer dispute’ as per Consumer Protection Act, 1986.
d)      What is meant by ‘Information’ under the Right to Information Act, 2005?
e)      Define ‘Authorised Person’ as per the Foreign Exchange Management Act, 1999.
f)       Give the meaning of ‘Digital signature’ under the Information Technology Act, 2000.
g)      Define ‘Invention’ as per the Patent Act, 1999.
3. Answer the following questions (any four):                                    5x4=20
a)      Explain the essential elements of a partnership.
b)      Discuss the various rights of consumers recognized under the Consumer Protection Act, 1986.
c)       Specify the categories of information that have been exempted from disclosure under the Right to Information Act, 2005.
d)      Write a note on ‘Capital Account Transaction’ under the Foreign Exchange Management Act, 1999.
e)      State the various powers of Securities and Exchange Board of India.
f)       Explain the features of Limited Liability Partnership.
4. Answer (a) and (b) or (c) and (d):
a)      Distinguish between Partnership and Co-ownership.                              5
b)      State the contents of Partnership Deed.                                       5
Or
c)       Distinguish between Partnership and Joint Hindu Family business.                                   5
d)      Explain the rights of Partnership as per the Indian Partnership Act, 1932.                                       5
5. Explain the composition and jurisdiction of the State Commissioner under the Consumer Protection Act, 1986.  5+5=10
Or
Discuss the grounds on which a complaint can be made under the Consumer Protection Act, 1986. Who can file a complaint? State the time frame within which a complaint can be filed before the Consumer Dispute Redressal Agencies. 4+4+2=10
6. State the obligation of Public Authorities under the Right to Information Act, 2005.                      10
Or
Explain the duties of Public Information Officer under the Right to Information Act, 2005. Also state the powers of the Information Commissioner under the Act.                                           5+5=10
7. Answer (a) and (b) or (c) and (d):
a)      Explain the provisions under Foreign Exchange Management Act, 1999 for export of goods and services.            5
b)      Explain the powers of the Reserve Bank of India in connection with Foreign Exchange Management.                    5
c)       Explain the rights of patentee as per Patent Act, 1999.                                           5
d)      State the objectives of Information Technology Act, 2000.                    5

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