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CA Final SFM
CA Final FR
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CA Final MCQs
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Q1. The Serious Fraud Investigation Office shall be headed by a Director and consist of such number of experts from the following fields to be appointed by the Central Government from amongst persons of ability, integrity and experience in:
Corporate affairs
Taxation
Forensic audit
Any of the above
Q2. The application to the tribunal for seeking an order of investigation into the affairs of the company need not be supported by evidence to show that an investigation is necessary
TRUE
FALSE
Not Applicable
Not Sure
Q3. Are the provisions of the Companies Act, 2013 with respect to inquiry, Inspection and investigation apply to foreign companies?
Yes (Section 228)
No
Yes (Section 220)
Yes (Section 280)
Q4. How much deposit amount is to be paid to the Central Government for the company having annual turnover more than Rs 50 crore and upto 200 crore?
Rs 25000
Rs.10000
Rs. 15000
None of the above
Q5. Mr. Vakil is a legal advisor of T Ltd. The Registrar of companies, Bangluru, issues an order to Mr. Vakil to disclose and furnish a copy of communication made by him to the T Ltd. Examine whether the Registrar can call for the said document from Mr. Vakil.
Yes
No
Needed if asked by Directors
Depends on decision in annual general meeting
Q6. Complaint was filed to the Tribunal against Last Ltd. company having share capital by members of the company. The company was carrying out operations with intent to defraud its creditors. Out of total 250 members of the company 125 members filed the complaint. The total share capital of the company is 10000000 Rs. State whether the complaint made by the member were eligible to make the complaint.
Yes
No
May be
Not Applicable
Q7. Where complaint is made by the eligible members to carry out investigation, the Tribunal should be satisfied about the circumstances exist---
That the company was formed for fraudulent or unlawful purpose
That the company was carrying operations to do social service
That the company was doing political publicity
That the company was carrying operations for Govt Organization
Q8. Investigation proceeding is going on against Mr. H who is an employee of Horse Ltd. The company wants to terminate the employee on the grounds that investigation is going on against him under the provisions of the Companies Act, 2013. They have filed an application to the tribunal for approval of termination. Company has not received any reply upto 30 days from the application made. What is the course of action of the Horse Ltd. now?
Wait for again 30 days extended
Consider as deemed approval by the Tribunal
Make an application to the Central Government
Wait for 60 days extension
Q9. The Board of directors of Party Ltd. have reasons to believe that some of the business activities of the company are against the interests of the company and its members. They want the inspection of the affairs of the company to be carried out. They filed a complaint to the Tribunal by passing a resolution. Advise which resolution is required to be passed by the company?
Ordinary Resolution
Special Resolution (Section 210)
Board report
Annual General Meeting
Q10. Where an investigation is ordered by the Central Government in pursuance of clause (b) of sub-section (1) of section 210, or in pursuance of an order made by the Tribunal under section 213, the Central Government may before appointing an inspector under subsection (3) of section 210 or clause (b) of section 213, require the applicant to give such security ------------------as may be prescribed, as it may think fit, for payment of the costs and expenses of the investigation and such security shall be refunded to the applicant if the investigation results in prosecution
Not exceeding 20000 Rs.
Not less than 25000 Rs.
Not exceeding 25000 Rs.
Not less than 20000 Rs
Q11. How much deposit amount is to be paid with the application to the Central Government for the company having turnover upto 50 Crore Rs.?
Rs. 25000
Rs 20000
Rs 10000
Rs 15000
Q12. A group of Shareholders of Fundays Ltd have filed a complaint to the Tribunal for investigation of affairs of the company because they believe that the affairs of the company are being carried out to defraud its creditors. The company is not having share capital. The Application is supported by the evidence. Out of total 450 members 85 members filed the complaint. State the validity of the complaint made.
The application fulfils the requirement of section 213 and is therefore valid.
The Application does not fulfil the requirement of section 213 and is therefore invalid
The Application does not fulfil the requirement of section 320 and is therefore invalid
The application fulfils the requirement of section 320 and is therefore valid.
Q13. Along with eligible member’s criteria which one more criteria is needed to be fulfilled by the members?
The members should be educated
The members should attach relevant a copy of sections of the Companies Act, 2013 with the Application
The application should be enclosed with the details of members like name. Education, address
The application needs to be supported by the evidence
Q14. A group of creditors of the XYZ Company made a complaint to the Registrar stating that the Directors of the company is involved in falsification and destruction of books of account. They demanded to seize the books and records of the company. Can the Registrar exercise such powers?
Yes
No
Depends on the body
Depends on Annual General Meeting
Q15. Firm, body corporate or other association shall be appointed as an inspector.
TRUE
FALSE
Depends on the body
Depends on Annual General Meeting
Q16. Every person who is arrested by the Director, Additional Director of Serious Fraud Investigation Office shall within ----- be taken to a Judicial Magistrate having jurisdiction
12 Hours
24 Hours
7 days
Immediately
Q17. Who are the eligible members who can seek an order of investigation into the affairs of the company having share capital?
i)100 members or ii)one or more member holding 10% of total voting power,whichever is higher
i)10 members or ii)one or more member holding 10% of total voting power, whichever is lower
i)100 members or ii)one or more member holding 10% of total voting power, whichever is lower
None of the above
Q18. In addition to the above question, what if company is not satisfied with the order of the Tribunal?
It can file appeal to the Appellate Tribunal within 30 days
It has to accept the order as passed.
None of the above
It can file appeal within 45 days
Q19. The inspector considers it necessary to investigate any person who has been the company’s managing director only after obtaining prior approval of---
State Government
Central Government
The Registrar
The Tribunal
Q20. Investigation proceeding is going on against Mr. H who is an employee of Horse Ltd. The company wants to terminate the employee on the grounds that investigation is going on against him under the provisions of the Companies Act, 2013. They have filed an application to the tribunal for approval of termination. Company has received reply within 30 days from the application made. Thus the Company terminated Mr. H. What is the remedy available to Mr. H?
Make an application to the Central Government
No remedy available.
Appeal to appellate tribunal within 30 days
File complaint against Horse Limited within 30 days
Q21. Tubelight ltd. Passed a special resolution for voluntary winding up of the company since they are suffering losses for quite some time now. Meanwhile, complaint was made to the Tribunal to carry out proceeding of investigation of the company because the affairs of the company are prejudicial to the interest of the shareholders. In this situation, advise whether investigation may be initiated against the company under the provisions of the Companies Act, 2013.
Central Government may make such an order of Investigation
Central Government cannot make such an order of Investigation
State Government cannot make such an order of Investigation
State Government can make such an order of Investigation
Q22. A group of Shareholders of Friends Ltd. holding 20 % voting power have filed a complaint to the Tribunal for investigation of affairs of the company because they believe that the affairs of the company are being carried out to defraud its creditors. The company is having share capital. The Application is supported by the evidence. Out of total 325 members 100 members filed the complaint. State the validity of the complaint made.
The application fulfils the requirement of section 213 and is therefore valid.
The Application does not fulfil the requirement of section 213 and is therefore invalid
The Application does not fulfil the requirement of section 320 and is therefore invalid
The application fulfils the requirement of section 320 and is therefore valid.
Q23. An inspector was appointed under section 210 of the Act to investigate the affairs of the public company. Mr W, human resource manager of the company wants to know whether he is entitled to any protection against dismissal by the company, if he discloses the misdeeds during the course of examination by the inspector.
Entitled to protection under section 218 of the Companies act, 2013
No such protection under section 218 of the Companies act, 2013
Protection is subject to approval from the body
Protection depends on the Annual General meeting
Q24. A group of Shareholders of Friends Ltd have filed a complaint to the Tribunal for investigation of affairs of the company because they believe that the affairs of the company are being carried out to defraud its creditors. The company is not having share capital. The Application is supported by the evidence. Out of total 325 members 100 members filed the complaint. State the validity of the complaint made.
The application fulfils the requirement of section 213 and is therefore valid.
The Application does not fulfil the requirement of section 213 and is therefore invalid
The Application does not fulfil the requirement of section 320 and is therefore invalid
The application fulfils the requirement of section 320 and is therefore valid.
Q25. Some creditors of S. Ltd approached you to guide them to apply to the tribunal for seeking an order for conducting an investigation into the affairs of the company due to the fact that the business of the company is being with intention to defraud its creditors. How a person not being a member of the company can apply to the tribunal to seek an order for conducting an investigation into the affairs of the company?
Filing of an application by any other person
Any other person cannot file application
Any of above.
None of the above
