Corporate and Other Laws - September 2026

2. Can Bikash compel the company to pay dividend directly to him as beneficial owner ? (A) Yes, because he provided the consideration for the shares. (B) No, because dividend is payable to the registered shareholder or to his/her order or banker, and non-filing of beneficial interest declaration makes Bikash’s rights unenforceable. (C)_ Yes, because beneficial owner always overrides registered owner. (D) No, because beneficial ownership is prohibited under the Companies Act, 2013. (4) ‘WBH(H) 3, What should the company…

5. Mr. Nagrajan’s wife remits USD 40,000 for her parents’ medical treatment in India : 2 (A) Isa capital account transaction requiring RBI approval (B) Isacurrent account transaction permitted without any limit. (C) Isa prohibited transaction under FEMA (D) Requires approval since it exceeds USD 25,000

6. For raising foreign currency loans for AI EXIM, which regulatory framework would apply ? 2 (A) Only RBI regulations for debt instruments (B) Only Central Government regulations ' (C) Both RBI and Central Government regulations based on the type of instrument (D) No regulations since it’s a technology company WBH(H) / 0) WBH(H) / Case Scenario-III : | PNO Kinda Limited a leading manufacturer of automotive lighting, switches and alloy | wheels etc. was incorporated in April, 2015. To…

7. The Company proposed to issue new equity shares with differential rights for the financial year 2019-20. Since the default was made good in FY 2018-2019. According to the provisions of the Companies Act, 2013, do you think the company is eligible to issue the shares with differential voting rights in financial year 2019-20 ? : 2 (A) Yes, the company is immediately eligible to issue new shares as it has cleared all the dues by September 2018. (B) No…

8. According to the provisions of the Companies Act, do you consider the company’s action of transfer of partly paid shares to Mr. Vikram is valid ? 2 (A) Yes, because the company waited for more than 15 days from the date of dispatch of notice before registering the transfer. (B) No, because the transferee did not give his explicit consent before the transfer of partly paid shares. (C)_ No, because Mr. Vikram made objection within 2 weeks from the…

10. In relation to the proposed secured debenture issue, Bankebihari Ltd. is required to appoint : (A) One or more debenture trustees after issuing the prospectus or letter of offer for subscription of debentures. (B) The Registrar of Companies as trustee. _ (C) ‘A trustee only after all debentures are allotted. (D) One or more debenture trustees before issuing the prospectus or letter of offer for subscription of debentures. WBH(H) o (10) WBH(H)

11. Which of the following statements is correct regarding Bankebihari Ltd.’s proposal to accept deposits from the public ? , ; (A) Any public company can accept deposits from the public without restrictions. (B) Only an eligible public company meeting prescribed net worth or turnover criteria and complying with statutory conditions may accept deposits from the public. (C) Private companies alone may accept deposits from the public. (D) Approval of the National Company Law Tribunal is mandatory before accepting deposits.…

12. Prabhas transferred 50% of his right to receive profits from M/s PAR LLP to Rakesh. After the transfer, Rakesh demanded participation in management decisions, inspection of books of account, and voting rights in partner meetings. 2 | Which of the following is correct ? (A) Rakesh automatically becomes a partner of the LLP and acquires all rights of a partner including management rights. i (B) Rakesh acquires all rights of a partner including management rights. (C) Rakesh is entitled…