Indian Companies Act MCQ question and answer

41

Which among the following remedies is available for a person who acted upon a false prospectus?

A) Damages for fraudulent misrepresentation B) Compensation for untrue statement C) Damages for non-compliance with the requirements of section 26 of the Companies Act, 2013 D) All of these

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Answer & Solution

Answer: Option D

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42

Under which provision of the Companies Act, 2013, will members be liable for a reduction of the statutory minimum number of members, in the Company?

A) Section 3A B) Section 7 C) Section 3 D) Section 4

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Answer & Solution

Answer: Option A

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43

A company shall be deemed to be unable to pay its debts:

A) If the company has failed to pay the sum within 21 days after the receipt of such demand B) If any execution process issued on a decree in favour of a creditor is returned unsatisfied C) If it is proved to the satisfaction of the Tribunal that the company is unable to pay its debts D) All of the above

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Answer: Option D

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44

In which of the following cases, the Court cannot order rectification of instrument-

A) Where the instrument through fraud does not express their real intention B) Where the instrument through mutual mistake does not express their real intention C) Where the instrument is the articles of association of a company D) Where the rectification of the instrument can be done without prejudice to right acquired by third persons in good faith and for value

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Answer & Solution

Answer: Option C

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45

Directors of a company are

A) Debtors of company B) Trustees of company C) Landlords of company D) Tenants of company

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Answer & Solution

Answer: Option B

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46

Articles of a company can be altered by

A) The directors of the company B) The official of the company C) Share holders by passing an ordinary resolution D) Share holders by passing a special resolution

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Answer & Solution

Answer: Option D

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47

Which section of the Companies Act, 2013 deals with corporate social responsibility?

A) Section 133 B) Section 134 C) Section 135 D) Section 136

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Answer & Solution

Answer: Option C

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48

Which one of the following is primary source of equity?

A) Custom B) Written law C) Judicial decision D) Conscience

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Answer: Option D

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49

Starax Ltd. has the paid-up equity capital structure in the following proportion - Central Government: 38%; State Government: 10%; Subsidiary of a Government Company: 17.50%; and remaining shares by retail shareholders. Which of the following classes of companies would it belong to?

A) Government company B) Non-government company C) Deemed public company D) Deemed private company

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Answer & Solution

Answer: Option A

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50

The statutory formulation of directors' duties under Companies Act, 2013 have been spelt out in

A) Section 166 B) Section 151 C) Section 171 D) Section 289

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Answer: Option A

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Indian Companies Act MCQ question and answer | Law MCQ question