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Q1. Notice of meeting pursuant to order of tribunal u/s 230(3) shall be sent to all creditors, members, debenture holders in form-------?
CAA 4
CAA
CAA 2
CAA 6
Q2. Objection for such compromise or arrangement be made for the person having outstanding debt amounting to not less than--------------
10% of outstanding debt
20% of outstanding debt
5% of outstanding debt
25% of outstanding debt
Q3. What are the modes by which monies may be settled in case a Foreign Transferor Company amalgamates with an Indian Transferee Company
Cash only
Depository Receipts only
Both of a & b wholly or in part
Only through GOI Bonds
Q4. Any people who have made application shall disclose to tribunal in form
NCLT 1
CAA 1
NCLT 6
CAA 4
Q5. The time limit to vote to the adoption of compromise or arrangement is ________ from the receipt of such notice and can be voted it either themselves or through proxies or through _______________
30 days, e- voting
1 month, postal ballot
30 days, postal ballot
1 month, e-voting
Q6. Creditor’s responsibility statement should be given in form
CAA4
CAA5
CAA1
CAA7
Q7. Mr. A. Director of A. Ltd. failed to file requisite submissions of A. Ltd with the registrar. Later A. Ltd. was amalgamated and a new Co named B Ltd was started. The failure to file submissions of A Ltd came to light in due course. Mr A was sought to be fined for his shortcomings. Mr. A in his defence says that now that A Ltd is not in existence the submission of documents is a trivial and not with legal standing. Does the Companies Act rule in favour of Mr. A
Yes, since the Amalgamated Company is now struck off there is no way to proceed with penalizing violations thereof
Yes, as soon as the amalgamated Company ceases to exist the compliance proceedings against it cease to exist This is done for saving time and resource of Ministry
No, the Companies Act specifically makes the officer in default liable for wrongful actions done in a Amalgamated Co
No, the tacit understanding is that the proceedings shall be now continued against the Amalgamating Company and the old officers are not liable
Q8. When CG is satisfied that 2 or more companies should amalgamate in ---------- interest, CG shall amalgamate those companies is provided in section of Companies Act, 2013
240
237
233
235
Q9. Notice accompanied by scheme of compromise or arrangement shall disclose following actual except-------?
Details of order of tribunal
Date of meeting at which scheme was approved
Explanatory statement disclosing details of the scheme
Reduction of share capital
Q10. A Director failed to issue circular to registrar for registration but issued the same to the members of transferor Company u/s 235. What shall be penal provisions applicable to such Director?
Fine: 10000-1 lakh
Fine: 25000-5 lakh
Fine: 1-5 lakh
Fine: 25000-1 lakh
Q11. When Tribunal is satisfied that the compromise or arrangement cannot be implemented and company is unable to pay its debt the Tribunal will............
Cancel such scheme
Finance such company
File case against the Company
Order winding up
Q12. Mr. A who should’ve received shares in ABC Ltd. of his deceased kin through transmission, had failed to receive the same. Lately KSE Ltd. made acquisition of majority of 91% of issued equity shareholding of ABC Ltd. KSE Ltd later intimated the Company the willingness to acquire fully all shares. But Mr. A had no indication of the same. The period of 1 year as statutorily required for maintaining the deposit expired. At 1 year after such expiry Mr. A got aware of his shareholding and decided to make offer for sale. What is the maximum time for making such offer?
3 years from date of majority acquisition
2 years from date of majority acquisition
30 months from date of majority acquisition
18 months from date of majority acquisition
Q13. Which of the following points shall be included in affidavit NCLT 6?
Latest financial position of the Company
Reduction of share capital, if any
Valuation report in respect of shares, property & assets by value
All of the above
Q14. Scheme of corporate debt restructuring can be executed only of consented by?
25% creditors M. No
75% creditors in value
75% creditors M no
25% creditors in value
Q15. Notice sent u/s 230(4) provides that voting can be done either through postal ballot or with proxies with of receipt of such notice
6 months
45 days
1 month
3 month
Q16. The amount as determined above shall be disbursed within:
30 days
60 days
90 days
120 days
Q17. Arrangement u/s 230 includes ------?
Reorganization of share capital
Appointment of new director
Making a subsidiary
Dealing with some new project
Q18. In case of compromise arrangement of the company u/s 230(1) of 2013 Act there is meeting between ----?
Company & its creditors Co. & debtors
Company & its outsider Co. & sellers
Company & its agents Co. & its purchaser
Company & its creditor Co. & members
