Sikkim-Manipal University of Health Medical and Technological Sciences (SMUHMTS) 2010-2nd Year B.B.A Business Administration of , Company Law of Manipal University - Question Paper

SIKKIM MANIPAL UNIVERSITY
BBA fourth semester
COMPANY legal regulations
Option I
Date 31.05.2010 Time: three hrs Total Marks-100
ans any 5 ques. including ques. No.1, which is compulsory
Q1. A. discuss the Legal position in the subsequent cases: [5 x two = 10 marks]

i.Asia pacific company Ltd. Called its annual general meeting on 3oth September,2001 and adjourned it to 31st December,2001 due to delay in completion of audit of accounts for the year ended 31st march,2001.At the adjourned meeting, the meeting was further adjourned to 31st March, 2002. Subsequently, the annual general meeting was held on 28th January, 2002.

ii. XYZ Limited wants to hold its annual general meeting on Sunday, the 30th June to facilitate the shareholders to attend it.


B. elaborate the disqualifications of the directors under the companies Act, 1956? [10 marks]

Q2. A. elaborate the provisions of the companies Act, 1956 with regard to holding of an annual general meeting? [10 Marks]

B. discuss "TURQUAND" rule with examples [10 marks]

Q3. Describe in details the preliminary steps and whole process of formation of a company, with examples, if any. [20 Marks]

Q4. What do you mean by Doctrine of Ultra Vires? Write the consequences and effects of ultra vires and also mention where the ultra vires does not apply. [20 marks]

Q5. a). elaborate the limitations to alteration by Articles of Association? [10 marks]
b). Schedule VI of the companies Act requires that the share capital of a company should be classified in the Balance sheet in to 3 categories. discuss [10 Marks]

Q6. A. select the most improper ans from the provided choices in respect of the
Following: (1 x 10 = 10 marks)

i. Under part 146, every registered company should have a registered office-
a) From the date on which it starts to carry on business
b) From the date on which it finds certificate of incorporation
c) From the 30th day after the date of its incorporation.
d) From the date on which it starts to carry on business or from the 30th day after the date of its incorporation, whichever is earlier?

ii. Who cannot become a member of the company:
a) Company as a member of a different company
b) Foreigner
c) Trade Union
d) Partnership firm

iii. Dividend can be declared out of-
a) Capital Reserve
b) Revaluation reserve
c) Debenture Redemption reserve
d) Earlier years reserve brought forward.

iv. As per companies amendment Act 2000, a private company and public company must have a minimum paid up capital of –
a) Rs. one lakh and Rs. two lakhs respectively.
b) Rs. three lakh and Rs. five lakhs respectively
c) Rs. two lakh and Rs. three lakhs respectively
d) None of the above

v. The stage of conceiving an idea and its working up is termed as………………….
a) Resignation
b) liquidation
c) promotion
d) winding up

vi. Under part 146, every registered company should have a registered office-
a) From the date on which it starts to carry on business
b) From the date on which it finds certificate of incorporation
c) From the 30th day after the date of its incorporation.
d) From the date on which it starts to carry on business or from the 30th day after the date of its incorporation, whichever is earlier

vii. Share certificate are to be issued by a company within-
a) Two months after allotment
b) One month after allotment
c) Six months after allotment
d) Three months after allotment

viii. Memorandum of association contains: -
a) the exact address of registered office
b) The name of the state in which the company will have its registered office
c) The name of the country in which the company will have its registered office
d) The name of the region in which the company will have its registered office

ix. A special resolution means a resolution passed by
a) Simple majority
b) 2/3rd majority
c) ¾ majority
d) The company itself.

x. A company cannot have more than one:
a) Managing Director
b) Manager
c) Whole time Director
d) Alternate Director

B. Re-write the subsequent phrases after filling-up the blank space with improper word(s)/figure (s): [ five Marks]
i. When a company makes buy-back of shares or securities, the buy-back operations shall be completed within______ from the date of filing of the draft letter of offer.

ii. Without the consent of the general meeting, the Board of Directors can borrow money subject to a maximum of _________.

i. Preference shares unless otherwise agreed are always taken as________.

iv. An article of Association is a ___________ document.

v. The directors of a company collectively constitute the ________of a company..

C. State whether every of the subsequent statements is actual or false. [1 x 5= five marks]
i. A company having share capital which has not issued a prospectus inviting public to subscribe for its share can commence business immediately.
ii. A private company may problem share warrants.
iii. A private company can allot shares soon after its incorporation.
iv. Share certificates are to be issued by a company within 6 months after allotment.
v. Only a fresh category of shares can be issued at a discount.

Q7. Distinguish ranging from the followings: (Attempt any Four) [5 marks x4= 20 marks]
a) Reduction of capital and Diminution of capital.
b) Certificate of incorporation and certificate of commencement of Business.
c) Transfer & Transmission of shares.
d) Annual General Meeting & Extra-ordinary General meeting.
e) Reserve capital & capital reserve

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Earning:   Approval pending.