List of top Legal Studies Questions on Company Law

In the following question, a Statement is followed by two Conclusions, I and II.
Statement: Allegations have been made by the Minority Shareholders that ABC's promoters sold the optionally convertible preference shares and redeemable preference shares to a trust controlled by ABC's promoters at prices significantly below their fair market value, thereby causing a financial loss to ABC and its shareholders. What is the recourse for minority shareholders under law?
Conclusion I: The Minority Shareholders can file for class action under Section 245 of the Companies Act, 2013, seeking directions from NCLT to either reverse the sale of optionally convertible preference shares and redeemable preference shares or to compensate the Minority Shareholders. Conclusion II: The aggrieved members may proceed individually to protect their rights against acts of oppression or mismanagement under Section 241 of the Companies Act, 2013. In the context of the above Statement and Conclusions, which one of the following is correct?
Section 233 of the Companies Act, 2013, deals with "fast track merger". What is the time duration and the concerned authority for approval?
In the following question, a Statement is followed by two Conclusions, I and II.
Statement: Allegations have been made by the Minority Shareholders that ABC's promoters sold the optionally convertible preference shares and redeemable preference shares to a trust controlled by ABC's promoters at prices significantly below their fair market value, thereby causing a financial loss to ABC and its shareholders. What is the recourse for minority shareholders under law?
Conclusion I: The Minority Shareholders can file for class action under Section 245 of the Companies Act, 2013, seeking directions from NCLT to either reverse the sale of optionally convertible preference shares and redeemable preference shares or to compensate the Minority Shareholders.
Conclusion II: The aggrieved members may proceed individually to protect their rights against acts of oppression or mismanagement under Section 241 of the Companies Act, 2013.
In the context of the above Statement and Conclusions, which one of the following is correct?
Section 233 of the Companies Act, 2013, deals with “fast track merger”. What is the time duration and the concerned authority for approval?
A private company can be incorporated under the provisions of the Companies Act 2013 with a minimum of:
What is known as a charter of a company?
Company prospectus means:
Which of the following statements is/are correct?
A document may be served on a company by sending it to the company at its registered office: -
(i) Only by registered post.
(ii) By speed post.
(iii) By courier service.
(iv) By leaving it at its registered office.
No company shall change the place of its registered office from the jurisdiction of one Registrar to the jurisdiction of another Registrar within the same State unless such change is confirmed by _____________.
On request from a member, the company shall, subject to the payment of the prescribed fee, send a copy of the memorandum of association to him, within ____________.
Which of the following statements are correct?
(i) A “holding company”, in relation to one or more other companies, means a company of which such companies are subsidiary companies.
(ii) Government companies are proscribed from being holding companies.
(iii) No company shall, either by itself or through its nominees, hold any shares in its holding company.
(iv) No holding company shall allot or transfer its shares to any of its subsidiary companies.
Which of the following statements are correct?
(i) A red herring prospectus may be issued prior to the issue of a prospectus.
(ii) The shares of any member in a company shall be movable property.
(iii) The debentures of any member in a company shall be movable property.
(iv) The interest of any member in a company shall be not be movable property.
Which of the following statements are correct in relation to the effect of registration of a company under the Companies Act, 2013?
(i) The members of the company becomes a body corporate.
(ii) The body corporate shall have perpetual succession.
(iii) The body corporate shall not use the name contained in the memorandum.
(iv) The body corporate can acquire and hold property in its name.
The approval of the company ________________ is required for any variation in objects for which a prospectus was issued.
Which of the following statements are correct about Section 8 companies?
(i) It is a limited company.
(ii) It is prohibited from payment of any dividend to its members.
(iii) It applies its profits in promoting its objects
(iv) A firm may not be its member.
Which of the following statements are correct?
(i) Every company shall keep at its registered office a register of charges.
(ii) The register of charges shall be open for inspection during business hours.
(iii) Any member may inspect the register of charges without any payment of fees.
(iv) Any creditor may inspect the register of charges only on payment of the prescribed fees.
The National Company Law Tribunal is constituted under _________ of the Companies Act, 2013.
Which of the following statements are correct?
(i) A company may change its Memorandum of Association after its incorporation.
(ii) Any change in the name of a company is subject to the provisions of Section 4 of the Companies Act, 2013.
(iii) The memorandum of a company shall state the name of the company with the last word “Limited” in the case of a public limited company.
(iv) A person may make an application to the Central Government for the reservation of a name set out in the application as the name to which the company proposes to change its name.
Where a share of a company is held in depository form, the _________ is the prima facie evidence of the interest of the beneficial owner.
Which of the following statements are correct?
A company may issue fully paid-up bonus shares to its members, in any manner whatsoever, out of: -
(i) The capital redemption reserve account.
(ii) The securities premium account.
(iii) The surplus in profit and loss account on measurement of the asset or the liability at fair value.
(iv) Its free reserves.
Which of the following statements are correct in relation to sweat equity shares?
(i) They may be issued by a company to its directors at a discount.
(ii) They may be issued by a company for consideration other than cash.
(iii) They shall not be issued to the employees of the company.
(iv) They may be issued to the directors for providing know-how to the company.
Which of the following statements are correct?
A duplicate certificate of shares may be issued, if such certificate: -
(i) Is proved to have been lost, or destroyed.
(ii) Has been defaced, and is surrendered to the company.
(iii) Has been mutilated, or torn and is surrendered to the company.
(iv) Has been pledged to the company.
Under the Companies Act, 2013, the financial statement may not include the cash flow statement with respect to: -
(i) One person company.
(ii) Small company.
(iii) Dormant company.
(iv) Shell company.
The Companies Act, 2013 passed by the Parliament received the assent of the President of India on _________.
Which of the following statements are correct?
Associate company, in relation to another company, means a company in which that other company has a significant influence. The expression “significant influence” in this context means: -
(i) Control of business decisions under an agreement.
(ii) Control of at least twenty-five per cent of total voting power.
(iii) Participation in business decisions under an agreement.
(iv) Control of at least twenty per cent of total voting power.