Corporate Law Question Paper (Nov-Dec’ 2016), Gauhati University B.Com Question Papers

Corporate Law Question Paper (Nov-Dec’ 2016)
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. (A) Choose the most appropriate answer from the given options in respect of the following:    1x10=10
1)         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.
2)         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.
3)         Transfer of share is effected by
a)         Sale.
b)         Death.
c)          Insolvency.
d)         None of the above.
4)         Which of the following actions of a proxy is not allowed in a company meeting?
a)         Participation.
b)         Speech.
c)          Attendance.
d)         Voting.
5)         Corporate veil may be pierced if the company:
a)         Incurs losses.
b)         Does not declare.
c)          Evades taxes.
d)         None of the above.
(B) State whether the following statements are True or False:                          1x5=5
1)         Public companies can commence their business after getting certificate incorporation.
2)         A company dies with the death of all the members.
3)         Minutes of a meeting have evidentiary value.
4)         The Board of Directors of a company may appoint a person as additional director if so authorized by Articles.
5)         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?
b)         ‘Certificate of incorporation is a conclusive evidence.’ Comment.
c)          What is meant by buy-back of shares?
d)         State the companies which must have woman director in its Board.
e)         How are the first directors of a company appointed?
3. (a) Distinguish between fixed and floating charge.                                       5
(b) State the contents of annual return.                                                                     5
State the provisions regarding forfeiture of shares.                                    5
(c) State the disqualifications of director of a company.                                               5
(d) State the various resolutions which can be passed in a shareholders meeting of a company.                                                                                                                                    5
4. Write about the name and registered office clause of Memorandum of Association. State the procedure of alternation of these clauses after incorporation of a company.              5+5=10
What are Articles of Association of a Company? Discuss the limits upon the powers of a company to alter its Articles of Association.                                                                     3+7=10
5. (a) Explain the provisions of the Companies Act relating to further issue of shares.     5+5=10
(b) What is underwriting of shares?
Define the term share. What are the different types of shares a company can issue? How does it differ from stock? 2+4+4=10
6. What is meant by allotment of shares? Discuss the rules regarding of allotment of shares in a company.                                                                                                                        2+8=10
State with reasons whether a minor can become member of a company. Under what circumstances does a person cease to be member of a company?                                           5+5=10
7. What are the powers of directors of a company? Is there any restriction on powers of a director? Discuss.                                                                                                                         5+5=10
When can the oppression and mismanagement be complained of in a company? What power does the tribunal have to prevent oppression and mismanagement in a company?              5+5=10

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