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

(ii) Where the Director (Discipline) of the Institute of Company Secretaries of India is of the opinion that a member is guilty of any professional or other misconduct mentioned in the 1st Schedule to the Company Secretaries Act, 1980, he shall place the matter before the Disciplinary Committee.
(iii) An investor can operate a joint account with a depository participant on ‘either or survivor’ basis just like a savings bank account.
(iv) The deposits with NBFCs registered with the RBI are insured and repayment thereof is guaranteed by the RBI.
(v) The objective of secretarial audit is not to obtain faults in the working of companies but to regulate the identical.
(vi) After the deletion of part 22A of the Securities Contracts (Regulation) Act, 1956 with the enactment of the Depositories Act, 1996, the free transferability of shares and debentures has been adversely affected.
(2 marks each)
(b) Write notes on the subsequent :
(i) Passing of resolution by postal ballot under part 192A of the Companies Act, 1956
(ii) Sweat equity shares.
(5 marks each)

3. (a) An issuer is making an initial public offer. Assuming the post-issue capital would be Rs.100 crore and the issuer adopts the book building route, and the promoters bring in the mandatory minimum amount, calculate the subsequent keeping in view the provisions of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, Chapter 11 and Clarifications in Schedule XX :
– Promoters’ contribution.
– Minimum offer to public.
– Allocation for individual investors applying for upto 10 tradable lots through the syndicate members.
– Allocation to institutional investors as well as other investors applying through the syndicate members.
– Allocation to individual investors applying direct and not through syndicate members but during the time when the problem is open.
– Increase in post problem capital due to individual investors applying direct and not through syndicate members and the consequential increase in promoters contribution.
(8 marks)
(b) Shareholdings of Sanat in a public listed company as on date of the last annual return were as follows :
Fully paid-up shares of Rs.10 every : 500 Nos.
Fully called-up but partly paid to the extent of Rs.5 every : 200 Nos.
following to the last annual return, an amount of Rs.500 was received from Sanat.

Earning:   Approval pending.