The Institute of Company Secretaries of India 2008 ICSI Final Secreterial Management and System Audit - Question Paper

(vi) Which of the subsequent does not qualify as a Qualified Institutional Buyer (QIB) for the purpose of allotment of securities under initial public offering (IPO) —
(a) Mutual funds.
(b) Scheduled commercial banks.
(c) Pension funds with a corpus of Rs.20 crore.
(d) Provident funds with a corpus of Rs.25 crore.

(vii) In case of refusal of transfer of shares by a company, the aggrieved party can file an appeal before the Company legal regulations Board against the refusal under part 111(2) of the Companies Act, 1956 within a period of —
(a) 1 month.
(b) 2 months.
(c) 45 Days.
(d) 60 Days.

(viii) The maximum sitting fees payable to a director for attending the Board meeting of a company with a paid-up capital including free reserves of Rs.8 crore and turnover of Rs.40 crore is —
(a) Rs.20,000.
(b) Rs.10,000.
(c) Rs.5,000.
(d) Rs.1,000.

(ix) A scheme of amalgamation of 2 companies under the Companies Act, 1956 has to be approved by —
(a) The District Court where the registered office of the companies are situated.
(b) The Company legal regulations Board.
(c) The High Court.
(d) The Supreme Court.

(x) The requirement of securing programme credit hours does not apply to a Practising Company Secretary who has attained the age of —
(a) 58 Years.
(b) 60 Years.
(c) 65 Years.
(d) 70 Years.
(1 mark each)

(b) The Managing Director of your company wanted to transfer 50% of his shareholding and the requirement of promoters’ contribution is not applicable to him. As Secretary of the company, prepare a note to the Managing Director giving your final opinion/advice.
(5 marks)
(c) State briefly the prominent services which can be rendered by a Company Secretary in whole-time practice in the matter of corporate restructuring.
(5 marks)
2. (a) State, with reasons in brief, whether the subsequent statements are accurate or incorrect. Attempt any 5 :
(i) In the case of an IPO by an unlisted company, if problem price is less than Rs.500 per share, face value of share may be fixed at the discretion of the company ranging from Re.1 and Rs.10.

Earning:   Approval pending.