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CA Final Prevention of Oppression and Mismanagement — practice questions

Explore 61 free Prevention of Oppression and Mismanagement questions in CA Final Law. Open each question or exercise to read its content, reference answers and available explanation.

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Prevention of Oppression and Mismanagement questions and exercises with answers

Showing questions 1–30 of 61.

Which authority may itself apply under s.241(2) on public interest grounds?Read the answer and worked solution →Which complaint falls within s.241(1)(a)?Read the answer and worked solution →Section 241(1)(b) applies to a material change in which area?Read the answer and worked solution →A s.241(1)(b) change is excluded if made in whose interest?Read the answer and worked solution →Section 242(1)(b) requires that winding up would do what to the members?Read the answer and worked solution →Before s.242 relief, facts must justify winding up on which ground?Read the answer and worked solution →An order under s.242(2)(a) may regulate what?Read the answer and worked solution →Which order may the Tribunal pass under s.242(2)(b)?Read the answer and worked solution →If the company buys a member out under s.242(2)(c), what follows?Read the answer and worked solution →Section 242(2)(d) allows restrictions on what?Read the answer and worked solution →Section 242(2)(e) concerns agreements with whom?Read the answer and worked solution →Under s.242(2)(f), an outsider agreement needs notice and what?Read the answer and worked solution →Under s.242(2)(g), acts within what period before the application can be set aside?Read the answer and worked solution →Acts set aside under s.242(2)(g) are treated as what in an individual insolvency?Read the answer and worked solution →Undue gains under s.242(2)(i) may go to which fund?Read the answer and worked solution →Section 242(2)(i) allows recovery of undue gains made by whom?Read the answer and worked solution →Section 242(2)(l) lets the Tribunal impose what?Read the answer and worked solution →A certified copy of a s.242(1) order goes to the Registrar within what time?Read the answer and worked solution →Section 242(4) empowers the Tribunal to make what kind of order?Read the answer and worked solution →After a s.242 order alters the articles, a further inconsistent change needs what?Read the answer and worked solution →Alterations made by a s.242 order have what effect on the articles?Read the answer and worked solution →An order altering the articles must be filed with the Registrar within what time?Read the answer and worked solution →Minimum fine on a company contravening s.242(5) under s.242(8)?Read the answer and worked solution →Maximum jail term for an officer in default under s.242(8)?Read the answer and worked solution →A director whose agreement was set aside is barred from office for how long?Read the answer and worked solution →Leave under s.243(1)(b) needs prior notice to whom?Read the answer and worked solution →Maximum fine for acting as director in breach of s.243(1)(b)?Read the answer and worked solution →Section 244(1)(a) needs how many members, or one-tenth of members if less?Read the answer and worked solution →Section 244(1)(a): members holding what fraction of issued capital may apply?Read the answer and worked solution →Applicant members under s.244(1)(a) must have paid all what?Read the answer and worked solution →

Worked practice questions

Which authority may itself apply under s.241(2) on public interest grounds?

  1. Official Liquidator
  2. Registrar of Companies
  3. Securities regulator SEBI
  4. Central Government
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Correct answer: D. Central Government

Section 241(2) gives the Central Government its own right to apply when company affairs prejudice public interest.

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Which complaint falls within s.241(1)(a)?

  1. Late dispatch of AGM papers
  2. Affairs run oppressively to a member
  3. Dividend lower than last year
  4. Share price decline in market
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Correct answer: B. Affairs run oppressively to a member

Clause (a) covers affairs conducted in a manner prejudicial or oppressive to a member, not ordinary commercial disappointments.

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Section 241(1)(b) applies to a material change in which area?

  1. Management or control
  2. Registered office location
  3. Statutory auditor fees
  4. Dividend distribution policy
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Correct answer: A. Management or control

Clause (b) deals with a material change in the management or control of the company, such as a Board alteration or share ownership shift.

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Corporate Insolvency Resolution Process under the IBCWinding UpAppointment and Qualifications of DirectorsSEBI Takeover and Insider Trading RegulationsForeign Exchange Management Act 1999Meetings of Board and Its PowersMiscellaneous Provisions, Adjudication, Special Courts, NCLT, e-FilingSEBI Act and Listing Regulations