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Q1. Flowers Company deals in Purses Business. During the enquiry it was found that they use duplicate leather and sell them in the name of original leather thereby increasing the cost of the products. Thus they do fraudulent business. Where the business of a company has been or is being carried on for a fraudulent purpose every officer of the company who is in default shall be punishable for fraud in the manner as provided in section---
477
407
744
447
Q2. The ------------------may, if it is satisfied that the circumstances so warrant, direct inspection of book and papers of a company by an inspector appointed by it for such purpose.
State Government
Registrar
CBDT
Central Government
Q3. The Registrar was carrying out the inspection of books of account of ABC Company. During such inspection the Registrar wanted to make copies of books of account and other books and papers. The officers of the company refused to do so. Does the action of Officers of ABC Company was correct?
Yes
No
Q4. On the receipt of notice from the registrar requiring furnishing of information or documents, it shall be the duty of the company and its officers to-
Furnish such information or explanation
Produce the documents to the registrar
All of the above
None of the above
Q5. What is the punishment to the director or officer of the company if they disobey the direction issued by the Registrar under section 207?
Imprisonment upto 1 year
Fine, which shall not be less than Rs.25000 but which may extend to Rs 100000
A and B
A or B
Q6. The ------------- may by written notice call on the company to produce for his inspection books of accounts, papers and explanations as he may require, at such place and at such time as he may specify in the notice.
CBDT
Registrar
Director of company
Adjudicating authority
Q7. Who is liable for punishment for contravention under section 207?
Company
Every officer of the company who is in default
A and B
Any of the Above
Q8. The Registrar or inspector making an inspection or inquiry shall have all the powers as are vested in a civil court under the Code of Civil Procedure, 1908.
TRUE
FALSE
Q9. Mr. Sinful is a director of Sin Company. During the process of Inspection, it was found out by the Registrar that Mr. Sinful has convicted an offence under section 207. What appropriate action is to be taken against him?
Vacate his office
Disqualified from holding any office in any company
A and B
A or B
Q10. Celebrations Company was directed by the Central Government to provide information of some of its sales transactions and produce documents related to sales and purchases. Under section 206 of the Companies Act, 2013 a company is required to furnish information and produce documents as ordered by Central Government. But Celebrations Company fails to do so. What is the course of action now?
Every officer of the company who is in default shall be liable with Imprisonment
Every officer of the company and the Company who is in default shall be punishable with Fine
All of the above
None of the above
Q11. During the course of inspection by the Registrar, he wants to place marks of identification in such books in token of the inspection having been made.
FALSE
TRUE
Q12. It shall be the duty of every director to render all assistance to the Registrar or inspector in connection with inspection of books of account and other books and papers under section 206.
TRUE
FALSE
Q13. What is the quantum of punishment for the above mentioned case?
Fine upto Rs50000 and additional fine upto Rs.500 per day in the case of continuing failure
Fine upto Rs100000 and additional fine upto Rs.500 per day in the case of continuing failure
Fine upto Rs5000 and additional fine upto Rs.500 per day in the case of continuing failure
Fine upto Rs500000 and additional fine upto Rs.500 per day in the case of continuing failure
Q14. Does the Registrar have the powers to summon and enforce the attendance of persons and examining them on oath?
No
Yes
Q15. The Statutory Authority wants to carry out the inspection of books of account of company. What is the pre requisite for such inspection?
Q16. The Registrar may by a written notice, require a company to furnish in writing such information and explanation within such reasonable time as may be specified in the notice.
TRUE
FALSE
Q17. Under what circumstances the Registrar shall inform the company of the allegations made against it by a written order?
The business of a company is being carried on for a fraudulent or unlawful purpose
The Business of a company is not in compliance with the provisions of this Act
The grievances of investors of the company are not being addressed
All of the above
Q18. Who is liable for punishment for contravention under section 206?
Company
Every officer of the company who is in default
A and B
A or B
Q19. The Central Government may having regard to the circumstances by order authorise any ---------------- to carry out the inspection of books of account of a company or class of companies
Regulatory Authority
Adjudicating Authority
Statutory Authority (section 206(6))
Registrar
Q20. ABC Company filed annual return for 2016-2017. On scrutiny of documents filed by ABC Company the Registrar is of the opinion that any further information or explanation related to the company is necessary. By a written notice the Registrar required the company to furnish in writing such explanation. The Registrar inspected the books of account of ABC company under section 207. What is the duty of Registrar now?
To seize the books of accounts and submit to the Central Government
To submit a report in writing to the Central Government
To submit a report in writing to the Income tax Department
To seize the books and submit report to the Central Government
