LLM Corporate Law — practice questions
100 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice LLM Corporate Law in the app →Under Section 2(68) of the Companies Act 2013, a 'private company' is defined by reference to which of the folUnder Section 2(71) Companies Act 2013, a 'public company' is defined as:Under Section 2(85) Companies Act 2013, a 'small company' is one which is not a public company and has paid-upUnder Section 2(62) Companies Act 2013, a 'One Person Company' (OPC) is a company which has:Under Section 2(87) Companies Act 2013, a company is a 'subsidiary' of another company if the other company:Under Section 2(6) Companies Act 2013, an 'associate company' in relation to another company means a company iUnder Section 2(45) Companies Act 2013, a 'Government Company' is a company in which:'Listed company' is defined under Section 2(52) Companies Act 2013 as:Under Section 2(47) Companies Act 2013, an 'Independent Director' is a director other than a managing directorUnder Section 2(76) Companies Act 2013, 'related party' (with reference to a company) includes which of the foIn the leading case Salomon v. Salomon & Co. Ltd., [1897] AC 22, the House of Lords held that:Under Section 4 Companies Act 2013, the Memorandum of Association of a company must contain which clauses?The doctrine of 'ultra vires' as applied to companies means:The 'doctrine of constructive notice' provides that:In Royal British Bank v. Turquand, (1856) 6 E&B 327, the rule of 'indoor management' was laid down to the effeIn Lee v. Lee's Air Farming Ltd., [1961] AC 12 (Privy Council from NZ), the question was whether a man could bUnder the Companies Act 2013, lifting (or piercing) of the corporate veil is permissible by the court in casesSection 7 Companies Act 2013 deals with INCORPORATION OF COMPANY. Once registered, the company comes into exisIn National Textile Workers' Union v. P.R. Ramakrishnan, (1983) 1 SCC 228, the Supreme Court held that:Under Section 26 Companies Act 2013, a 'prospectus' issued by or on behalf of a public company must contain:Under Section 34 Companies Act 2013, criminal liability for mis-statement in prospectus attracts punishment foSection 25 Companies Act 2013 deals with documents containing offer of securities for sale — 'deemed prospectuUnder Section 42 Companies Act 2013 (Private Placement), an offer or invitation to subscribe to securities canUnder Section 23 Companies Act 2013, a PUBLIC company may issue securities by:Section 39 Companies Act 2013 deals with allotment of securities. Minimum subscription for an offer must be reUnder Section 35 Companies Act 2013, civil liability for mis-statement in prospectus attaches to:Under Section 26(4) Companies Act 2013, a prospectus must be DELIVERED to the Registrar for registration:Under Section 43 Companies Act 2013, the share capital of a company limited by shares shall be of TWO kinds:Under Section 47 Companies Act 2013, an equity shareholder's voting rights are normally:Section 53 Companies Act 2013 prohibits issue of shares at:Under Section 55 Companies Act 2013, no company limited by shares shall issue preference shares which are:Section 62 Companies Act 2013 deals with further issue of share capital. Where a company proposes to increase Under Section 67 Companies Act 2013, a PUBLIC company is prohibited from giving financial assistance for:Under Section 68 Companies Act 2013, a company may BUY-BACK its own shares from:Under Section 71 Companies Act 2013, a 'debenture' is defined as INCLUDING (but not exhaustively):Under Section 73 Companies Act 2013, the acceptance of DEPOSITS by a company (other than a banking/NBFC) from Under Section 77 Companies Act 2013, a charge created by a company on its property must be registered with theUnder Section 78 Companies Act 2013, if a company fails to register a charge under Section 77, the person in wSection 88 Companies Act 2013 requires every company to maintain registers of:Under Section 96 Companies Act 2013, the FIRST Annual General Meeting (AGM) of a company must be held within:Under Section 103 Companies Act 2013, the quorum for a general meeting of a PUBLIC company is:Under Section 109 Companies Act 2013, a poll on a question at a general meeting shall be ordered by the ChairmUnder Section 123 Companies Act 2013, a dividend may be declared and paid by a company only OUT OF:Under Section 124 Companies Act 2013, unpaid dividend (declared but not paid/claimed) must be transferred to aSection 129 Companies Act 2013 prescribes the form and content of financial statements. The financial statemenUnder Section 135 Companies Act 2013, CSR obligations apply to a company having (during any financial year):Under Section 138 Companies Act 2013, internal audit is mandatory for which class of companies?Under Section 139(1) Companies Act 2013, the FIRST auditor of a company (other than a Government company) shalUnder Section 139(2) Companies Act 2013, mandatory rotation of audit firms applies to:Under Section 149 Companies Act 2013, every company shall have a Board of Directors. The minimum and maximum nUnder Section 149(4) Companies Act 2013, every LISTED PUBLIC COMPANY must have:Under Section 149(6) Companies Act 2013, which one of the following is NOT a condition for a person to be eligUnder Section 152 Companies Act 2013, in the case of a public company, at least TWO-THIRDS of the total numberUnder Section 165 Companies Act 2013, a person can hold directorships in a maximum of:Under Section 166 Companies Act 2013, the DUTIES of a director include duties of GOOD FAITH and DUE CARE. WhicUnder Section 169 Companies Act 2013, a director may be REMOVED before the expiry of his term by:Under Section 173 Companies Act 2013, the minimum number of Board meetings in a year is:Under Section 185 Companies Act 2013 (post-2017 amendment), LOAN TO DIRECTORS (including loan to other personsUnder Section 188 Companies Act 2013, RELATED PARTY TRANSACTIONS require prior consent of the Board AND prior Under Section 197 Companies Act 2013, the overall maximum managerial remuneration payable by a PUBLIC COMPANY Under Section 167 Companies Act 2013, the office of a director shall become VACANT IF (inter alia) he absents Under Section 143(12) Companies Act 2013, the AUDITOR is required to report to the Central Government any FRAUUnder Section 141 Companies Act 2013, a person is DISQUALIFIED from being appointed as auditor of a company ifSection 177 Companies Act 2013 requires the AUDIT COMMITTEE for every:Section 138 Companies Act 2013 (Internal Audit) and Section 134(5) (Internal Financial Controls): Under SectioUnder Section 143(11) Companies Act 2013 and the related CARO 2020 (Companies (Auditor's Report) Order), the aUnder Section 230 Companies Act 2013, a 'compromise or arrangement' between a company and its creditors or memSection 233 Companies Act 2013 provides for 'fast-track merger' between:Section 241 Companies Act 2013 provides relief from OPPRESSION AND MISMANAGEMENT. An application may be made tUnder Section 245 Companies Act 2013 (CLASS ACTION), an application to the NCLT may be filed by:Under Section 248 Companies Act 2013, the REGISTRAR may, on his own motion or on application by a company, REMUnder Section 271 Companies Act 2013 (post-IBC amendment), a company may be WOUND UP BY THE TRIBUNAL on the foThe INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC) initiates Corporate Insolvency Resolution Process (CIRP). A FINUnder Section 14 IBC, when an application for CIRP is admitted by NCLT, an immediate MORATORIUM is declared, pUnder the IBC 2016, the WATERFALL of distribution of liquidation proceeds (Section 53) ranks workmen's dues (2Under the IBC 2016 (Section 30(4)) and as confirmed in Essar Steel India Ltd. Committee of Creditors v. SatishUnder Section 408 Companies Act 2013, the NATIONAL COMPANY LAW TRIBUNAL (NCLT) was constituted by the Central Section 447 Companies Act 2013 defines 'FRAUD' broadly and prescribes punishment of:Under Section 5 Companies Act 2013, the ARTICLES OF ASSOCIATION (AoA) contain:Under Section 8 Companies Act 2013, a company may be registered with CHARITABLE OBJECTS (promotion of commerceUnder Section 92 Companies Act 2013, every company shall prepare an ANNUAL RETURN and file it with the RegistrUnder Section 164 Companies Act 2013, a person shall NOT be ELIGIBLE for appointment as a director if (inter aUnder Section 195 Companies Act 2013, INSIDER TRADING in securities of a company by a director or KMP is:Under Section 203 Companies Act 2013, every LISTED PUBLIC COMPANY and every other public company having paid-uUnder Section 174 Companies Act 2013, the QUORUM for a meeting of the Board of Directors shall be:Section 211 Companies Act 2013 establishes the SERIOUS FRAUD INVESTIGATION OFFICE (SFIO). SFIO investigates frUnder Section 184 Companies Act 2013, a director must DISCLOSE his interest at the first Board meeting in whicUnder Section 100 Companies Act 2013, an EXTRAORDINARY GENERAL MEETING (EGM) may be called by:Under Section 173(2) and 174(1) Companies Act 2013, participation of a director through VIDEO CONFERENCING in Under Section 96 Companies Act 2013, an AGM (after the first) must be held:Under Section 117 Companies Act 2013, copies of certain resolutions must be filed with the Registrar in Form MUnder Section 152(3) Companies Act 2013, every individual who proposes to be appointed as DIRECTOR must obtainSection 230(11) Companies Act 2013 (inserted by 2019 Amendment) deals with TAKEOVER OFFERS made under a schemeSection 380 Companies Act 2013 requires every FOREIGN COMPANY conducting business in India to deliver to the RProducer Companies are governed under Chapter XXI-A (Sections 378A-378ZU) inserted into the Companies Act 2013Under Section 134(3)(c) Companies Act 2013, the BOARD'S REPORT shall include 'Extract of the Annual Return' inUnder Section 246 Companies Act 2013 read with Section 339, the NCLT may order LIFTING OF CORPORATE VEIL whereUnder Section 102 Companies Act 2013, a statement (EXPLANATORY STATEMENT) annexed to the notice calling a geneSection 271 Companies Act 2013 grounds for winding-up by NCLT do NOT include 'INABILITY TO PAY DEBTS'. This isUnder Section 2(46) and Section 2(87) Companies Act 2013, a 'holding company' is a company in relation to one