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CA Final MCQs
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Q1. Mr. X, son-in-law of Mr. A (Promoter of Associate Company PQR Ltd.) seeks to be appointed as Independent Director of LMN Pvt. Ltd. Can he be so appointed?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q2. A director to be appointed as Independent Director, has or had no pecuniary relation (other than remuneration) > 10% of his total income or amount prescribed by CG with the Company or its Holding, Subsidiary, Associate Co., promoter or director:
During the 3 immediately preceding FYs or during Current Financial Year (CFY).
During the 2 immediately preceding FYs or during Current Financial Year (CFY).
During the immediately preceding FY or during Current Financial Year (CFY).
None of the above
Q3. Mr. Mahesh and Mr. Somesh are relatives. Mr. Somesh has a pecuniary relationship with PQR Ltd. to the tune of Rs. 6 Lacs (Including remuneration of remuneration of Rs. 4 lac). His total income is 10 Lacs. Can Mr. Mahesh be appointed as an Independent Director of XYZ Ltd. (Subsidiary of PQR Ltd.)?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q4. Mr. Rohan has a pecuniary relationship with PQR Ltd. to the tune of Rs. 2 Lacs (Including remuneration of Rs. 1 lac). His total income is 10 Lacs. Can he be appointed as an Independent Director of XYZ Ltd. (Subsidiary of PQR Ltd.)
Yes
No
Yes, GM-SR
Yes, GM-UR
Q5. Ms. Kajol is a relative of Mr. Ketan. PQR Ltd. is the subsidiary Company of ABC Ltd. Mr. Ketan had given a guarantee to the Promoter of ABC Ltd on 20th Dec 2016. Can Ms. Kajol be appointed as an Independent Director on 21st Dec 2018?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q6. Who shall not be eligible for being appointed as Independent Director?
Has or had no pecuniary relation (including remuneration or transaction > 10% of his total income)
Has or had no pecuniary relation (other than remuneration or transaction > 10% of his total income)
Has or had no pecuniary relation (other than remuneration or transaction > 2% of his total income)
Has or had no pecuniary relation (including remuneration or transaction > 2% of his total income)
Q7. Ms. Kajol is a relative of Mr. Ketan. PQR Ltd. is the subsidiary Company of ABC Ltd. Mr. Ketan has given a guarantee to the Director of ABC Ltd. Can Ms. Kajol be appointed as an Independent Director?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q8. Mr. Raman, a relative of Ms. Sadhana who is indebted to the Company, wants to be appointed as an ID. Can he be so appointed?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q9. Ms. Kajol is a relative of Mr. Ketan. PQR Ltd. is the subsidiary Company of ABC Ltd. Mr. Ketan had given a guarantee to the Director of ABC Ltd on 20th Dec 2016. Can Ms. Kajol be appointed as an Independent Director on 21st Dec 2018?
Yes
No
Yes, GM-SR
Yes, GM-UR
Q10. Ms. Kajol is a relative of Mr. Ketan. PQR Ltd. is the Holding Company of ABC Ltd. Mr. Ketan has given a guarantee to the Director of ABC Ltd. Can Ms. Kajol be appointed as an Independent Director?
Yes
No
Yes, GM-SR
d. Yes, GM-UR
