Corporate Law Question Paper (Nov-Dec’ 2017), Gauhati University B.Com Question Papers

Corporate Law Question Paper (Nov-Dec’ 2017)
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)         Which one of the following is applicable if the Articles conflict with Memorandum?
a)         The Articles shall prevail.
b)         The Memorandum shall prevail.
c)          The directors will resolve the conflict.
d)         The court will resolve the conflict.
2)         Which of the following preference shareholder enjoys scope to share profits twice in a company?
a)         Redeemable preference shareholder.
b)         Cumulative preference shareholder.
c)          Convertible preference shareholder.
d)         Participating preference shareholder.
3)         The notice offering right shares must allow the member at least _______ days to exercise their option to accept, reject or renounce it.
a)         10 days.
b)         15 days.
c)          20 days.
d)         30 days.
4)         A company must have a whole time secretary if the paid up capital of the company is –
a)         Rs. 5 crore.
b)         Rs. 10 crore.
c)          Rs. 15 crore.
d)         Rs. 20 crore.
5)         Every company shall hold the first meeting of the Board of Directors within _______ days of the date of its incorporation.
a)         15 days.
b)         30 days.
c)          45 days.
d)         60 days.
(B) State whether the following statements are true or false:     1x5=5
1)         The Companies Act, 2013 extends to whole of India.
2)         Underwriting commission payment shall be authorized by Articles of Association.
3)         Every company is required to keep a Register of Members.
4)         A manager must be a director of the company.
5)         Minutes of general meeting of a company is always signed by the Secretary of the company.
2. Answer the following in brief:              2x5=10
a)         What is one person company?
b)         What is fixed charge?
c)          What is bonus share?
d)         Who is known as whole time director?
e)         What do you mean by ‘proxy’ in relation to company meeting?
3. (a) Distinguish between shares and debentures.                                                    5
(b) ‘A company cannot buy its own shares’. Comment.                    5
Discuss the rights of members of a company.
(c) Distinguish between Managing Director and Manager.
(d) Write a note on passing of resolution through postal ballot.                      5
4. Explain clearly the meaning of ‘Memorandum of Association’. Discuss the procedures and the circumstances under which the alterations of objects as stated in the Memorandum of Association are permissible by the Companies Act. 4+6=10
‘A company is a person separate from its members.’ Explain. Examine the circumstances under which the courts may disregard the company’s corporate personality.                  4+6=10
5. What is Prospectus? Is the issue of prospectus compulsory for a public company? What are the remedies available to the public in case of misrepresentation in the prospectus?          2+2+6=10
What is a Debenture? What are the different kinds of debenture that may be issued by a company? 2+8=10
6. What is Listing of shares? What is the procedure of listing of shares? Why listing of shares is preferred?        2+4+4=10
What is depository system? What are the advantages of depository system? How transfer of shares is made through depository mode?  2+4+4=10
7. Who is a Director of a Company? Explain how Directors are appointed by a company in General Meeting?      2+8=10
State the provisions of the Companies Act, 2013 with respect to Annual General Meeting.  10

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