The Institute of Chartered Financial Analysts of India University 2008 PCC – LAW - Question Paper

(b) A Public Company can problem either redeemable or irredeemable preference shares.

(ii) Pickup the accurate ans from the subsequent and provide reasons: (3x1=3)

(a) A Public Company need not offer further shares to existing shareholders, if:
1) Ordinary resolution is passed to that effect by the company in General meeting.
2) Special resolution is passed to that effect by the company in General meeting.
3) Resolution is passed by Board of Directors and approved by Company legal regulations Board.
4) Special resolution is passed by the Company in General meeting and approved by Registrar of Companies.

(b) Resolution requiring special notice is needed
1) For appointment of a person other than the retiring auditor as auditor at the Annual General Meeting
2) For removing a Director before the expiry of the period of his office
3) For both (1) and (2)
4) For None of the above.

(c) Quorum for a General meeting of a Public Company is
1) five members current in person or by proxy
2) three members personally current as needed by the Articles of Association of the company
3) five members personally current
4) two members personally current.


3. A workshop is employing 50 workmen. A shop supervisor is drawing monthly wages of Rs. 9,000. HRD paid annual bonus to all employees other than the Supervisor. The Supervisor contends that he is also entitled to bonus. Referring to the provisions of the Payment of Bonus Act, 1965 decide whether the HRD's action is accurate. (05 Marks)


4. What is meant by `Presentment' of a bill of exchange under the Negotible Instrumerts Act, 1881? When is such a bill of exchange presented for payment? State when is the presentment not necessary. (05 Marks)


5. define in brief the mode of transfer of balance to the credit of Provident Fund Account of an employee leaving 1 organisation and joining a different organisation, to the new employer under the provisions of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. (05 Marks)


6. `A' draws a bill of exchange payable to himself on `X'. Who accepts the bill without consideration just to accommodate `A'. `A' transfers the bill to ‘P’ for good consideration. State the rights of `A' and `P'. (05 Marks)

Would your ans be various if 'A' transferred the bill to `P’ after maturity? (05 Marks)

Earning:   Approval pending.