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1
Q

Section 149 of companies act

A

Company to have Board of Directors.

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2
Q

Section 150 of companies act

A

Manner of selection of independent directors and maintenance of data bank of independent
directors

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3
Q

Section 151 of companies act

A

Appointment of director elected by small shareholders

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4
Q

Section 152 of companies act

A

. Appointment of directors

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5
Q

Section 153 of companies act

A

Application for allotment of Director Identification Number.

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6
Q

Section 154 of companies act

A

Allotment of Director Identification Number.

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7
Q

Section 155 of companies act

A

Prohibition to obtain more than one Director Identification Number.

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8
Q

Section 156 of companies act

A

Director to intimate Director Identification Number.

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9
Q

Section 157 of companies act

A

Company to inform Director Identification Number to Registrar

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10
Q

Section 158 of companies act

A

Obligation to indicate Director Identification Number.

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11
Q

Section 159 of companies act

A

Punishment for contravention

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12
Q

Section 160 of companies act

A

Right of persons other than retiring directors to stand for directorship

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13
Q

Section 161 of companies act

A

Appointment of additional director, alternate director and nominee director

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14
Q

Section 162 of companies act

A

Appointment of directors to be voted individually.

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15
Q

Section 163 of companies act

A

Option to adopt principle of proportional representation for appointment of directors.

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16
Q

Section 164 of companies act

A

Disqualifications for appointment of director.

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17
Q

Section 165 of companies act

A

Number of directorships

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18
Q

Section 166 of companies act

A

Duties of directors

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19
Q

Section 167 of companies act

A

Vacation of office of director

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20
Q

Section 168 of companies act

A

Resignation of director.

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21
Q

Section 169 of companies act

A

Removal of directors.

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22
Q

Section 170 of companies act

A

Register of directors and key managerial personnel and their shareholding.

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23
Q

Section 171 of companies act

A

Members‘ right to inspect.

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24
Q

Section 172 of companies act

A

Punishment

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25
Q

Section 173 of companies act

A

Meetings of Board

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26
Q

Section 174 of companies act

A

Quorum for meetings of Board

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27
Q

Section 175 of companies act

A

Passing of resolution by circulation.

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28
Q

Section 176 of companies act

A

Defects in appointment of directors not to invalidate actions taken

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29
Q

Section 177 of companies act

A

Audit committee.

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30
Q

Section 178 of companies act

A

Nomination and Remuneration Committee and Stakeholders Relationship Committee.

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31
Q

Section 179 of companies act

A

Powers of Board.

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32
Q

Section 180 of companies act

A

Restrictions on powers of Board

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33
Q

Section 181 of companies act

A

Company to contribute to bona fide and charitable funds, etc

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34
Q

Section 182 of companies act

A

Prohibitions and restrictions regarding political contributions

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35
Q

Section 183 of companies act

A

Power of Board and other persons to make contributions to national defence fund, etc.

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36
Q

Section 184 of companies act

A

Disclosure of interest by director

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37
Q

Section 185 of companies act

A

Loan to directors, etc.

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38
Q

Section 186 of companies act

A

Loan and investment by company

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39
Q

Section 187 of companies act

A

Investments of company to be held in its own name.

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40
Q

Section 188 of companies act

A

Related party transactions.

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41
Q

Section 189 of companies act

A

Register of contracts or arrangements in which directors are interested.

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42
Q

Section 190 of companies act

A

Contract of employment with managing or whole-time directors.

43
Q

Section 191 of companies act

A

Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares.

44
Q

Section 192 of companies act

A

Restriction on non-cash transactions involving directors.

45
Q

Section 193 of companies act

A

Contract by One Person Company

46
Q

Section 194 of companies act

A

Prohibition on forward dealings in securities of company by director or key managerial
personnel.

47
Q

Section 195 of companies act

A

Prohibition on insider trading of securities.

48
Q

Section 196 of companies act

A

Appointment of managing director, whole-time director or manager

49
Q

Section 197 of companies act

A

Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.

50
Q

Section 198 of companies act

A

Calculation of profits.

51
Q

Section 199 of companies act

A

Recovery of remuneration in certain cases.

52
Q

Section 200 of companies act

A

Central Government or company to fix limit with regard to remuneration

53
Q

Section 201 of companies act

A

Forms of, and procedure in relation to, certain applications.

54
Q

Section 202 of companies act

A

Compensation for loss of office of managing or whole-time director or manager

55
Q

Section 203 of companies act

A

Appointment of key managerial personnel.

56
Q

Section 204 of companies act

A

Secretarial audit for bigger companies.

57
Q

Section 205 of companies act

A

Functions of company secretary

58
Q

Person carrying on designated activity.
PMLA

A

RAP SONG – Inspector general of registration, real estate agent TO > 20L, Precious material in cash > 10L, Safekeeping of cash and liquid sec., Other activity, Games of chance.

59
Q
  • Specified Transactions
    PMLA
A

Cash FIR – Txn. In Cash exceeding prescribed amount, txn. forex exceed pres amount, txn. In high value imports, high risk of ML or terrorist financing.

60
Q
  • Powers of Adjudicating authority and Appellate Tribunal
    PMLA
A

PARCERO – Production of docs, Attendance and oath, Requisitioning any public record/doc, Issue commission for examination of witness or docs, Evidence on affidavits, dismissing representation for default, Other matter.

61
Q
  • If during inquiry director finds non compliance as per Sec-13, director may
    PMLA
A

MEASURE WIP – Direct to send report on measure taken, issue warning in writing, direct to comply with instructions, impose penalty (10k to 1L)

62
Q
  • Person to whom section 3 not applicable
    FCRA
A

Salary/Stipend R2 BAD – Salary or wages due to him, Scholarship/stipend payment, Relative, Remittance in OCOB by post office, Payment in course of int trade or OCOB o/s india, agent of FS wrt txn with CG/SG, Gift/presentation as member of Indian delegation.

63
Q
  • What constitutes administrative expense
    FCRA
A

AW Land Rover SUV – Accounting cost, report writing cost, legal cost, repair and rent, salaries/wages/travel exp., utilities, vehicle running and maintenance.

64
Q
  • Registration of certain person with CG
    FCRA
A

REECS – Religion, Economic, environmental, cultural, social.

65
Q
  • Conditions for grant of CoR/Prior permission
    FCRA
A

ABC2D PSU – contravention of act, fictitious/benami, Convicted-communal tension, diversion, prohibited, sedition, use in undesirable purpose

66
Q
  • Cancellation of CoR reasons
    FCRA
A

TAPID – T&C breach, against Act, public int., Incorrect/false info while applying, defunct/not functional.

67
Q
  • Power of CG to prohibit receipt of FC
    FCRA
A

HI EPF – Harmony between cultures, Integrity, Fairness of election, public interest, friendly relation with foreign state.

68
Q
  • Moratorium prohibits
    IBC
A

RAIES – Recovery of any property, T/f dispose/encumber asset, security interest, supply of essential goods not stop, suit and pending suits.

69
Q
  • Public announcement to contain
    IBC
A

RAPID2 – Registered authority, name/address of CD, Penalty for false claim, IRP details, last date – claims submission, last date – CIRP.

70
Q
  • Approval of COC for certain actions of RP
    IBC
A

FITS CCD MCD T – Interim finance raise more than limit, security int. over assets, debit txn more than limit, disposal of shares, change in ownership, change in capital structure, delegate his authorities, changes in mgmt., constitutional amend, terms of appointment of – stat auditor, personnel.

71
Q
  • Not eligible to be submit resolution plan
    IBC
A

CID AT SEBI 164 Guarantee – convicted, undischarged insolvent, willful defaulter, NPA account, PUFE txn, prohibited by SEBI, Guarantee on behalf of CD whose CIRP going and the amount is payable in full or part. + connected person + foreign law.

72
Q
  • RP to examine resolution plan on basis of
    IBC
A

COMILO – Cost of IRP priority, OC atleast liquidation paisa mila, management, implementation, law, others.

73
Q
  • Additional conditions to apply for dormant
    Mics
A

IPL mein Deposit ko leke Dispute hua Govt aur Workmen ke beech Stock girne lage – Investigation/inquiry not taken up, No prosecution initiated and pending, No loan o/s, no deposit and default, no dispute in mgmt., no govt dues, no workmen dues default, Not listed in stock.

74
Q
  • Restriction of making application u/s 248 (removal of name)
    Misc
A

PAT and Net Worth – If during last 3 months – disposed any property, engaged in activity (except – affairs, stat req, 248), Tribunal for compromise arrangement and amalgamation & matter not concluded, Change name/RO office, WUP.

75
Q
  • Condition of registration as RV with IBBI
    Misc
A

CG kehta hai Qualification ke liye SR Firm ko Law ka compliance zaroori hai – Code of conduct, grievances, qualification, shifting membership, records – 3 years, firm 3 points, law compliance.

76
Q
  • Special court shall consider following before imposing fine
    IBC
A

SIR ka Nature – Size of co., Injury to public interest, Repetitiveness, Nature of co., nature of default.

77
Q
  • Removal of members
    SEBI
A

I M OFF Abused – Adjudicated insolvent, Unsound Mind, offense convict for moral turpitude, abused his position as per CG to public interest.

78
Q
  • Power of SEBI while inquiry
    SEBI
A

I am S2AD because Access chingaya – Impound and retain proceed of security, Suspend trading of any security, suspend any office bearer or SRO, Attach bank account or other property, Direct to not dispose any asset forming part of txn, restrain person access to market.

79
Q
  • Penalties –
    SEBI
A

15A – Accounts 15B – Bhai agreement karlena 15C – chid gaya due to grievances 15D – Dhoka CIS ka 15E – ek ek ko comply karna hoga - AMC 15EA – AIF,REIT,IIT 15EB – Investment advisor/research analyst 15F(1) – Failure of stock broker- contract note 15F(2) – security issue 15F(3) – brokerage high 15G – Galti se bhi insider trading nahi karna 15H – Hostile takeover 15HA – Haan maine fraud kiya 15HAA – Haaan maine virus daala 15HB – Hadd hai isse alag penalty ki bhi.

80
Q
  • When can CG file for oppression
    Prevention and opp.
A

Boring GIF – No sound business policy, Guilty, Injury, Fraudulent/public interest/defraud.

81
Q
  • When making application under class action, tribunal will consider
    Prevention and opp.
A

FIVOR – Good faith?, involvement other than director, vies of M/D not personally interested, whether M/D can make action on his own right, Ratify – act or omission if already occurred or likely to happen.

82
Q
  • Transaction through e-mode consists of
    Co. Incorporated o/s india
A

CO. TDS – Data communication, Online services – Telemedicine/telecomuting/telemarketing/education, B2B/B2C txn or data interchange, Deposits from India or citizens, Services – Web based marketing/supply chain/database service/Financial settle

83
Q
  • Documents to be registered by foreign co
    Co. incorporated o/s india
A

COP CARD – Charter docs – MOA/AOA, Other info, Particular of op./cl. Of POB on early occasions, Convicted director/AR, Address – POB in India and of O/S India, PRI address and name, name and address of all directors.

84
Q
  • Documents to be attached with prospectus
    Co. incorporated O/s india
A

Instrument ki Incorporation ke liye ACP ko bulaya – Instrument defining constitution of co., Provisions of incorporation, address where these two are available in English, Country of incorporation, POB if any then address.

85
Q
  • Applicability for women director
    Ch 1
A

Listed co, Public co. – PUSC >= 100cr TO >= 300cr.

86
Q
  • Applicability for Independent director
    Ch 1
A

Listed co, Public co. – PUSC >= 10cr Loan > 50cr TO >= 100cr Except JV/WOS/Dormant.

87
Q
  • Who can be ID
    Ch 1
A

IMP DOGS FVNK – Integrity, Monetary txn, Promoter, indebted, other pecuniary, guarantee, security, firm of auditor-legal, voting power, NPO CEO/Director, KMP.

88
Q
  • No deemed reappointment of director in case of rotation
    Ch 1
A

LWR 162 164 – Resolution put and lost, unwillingness, SR/OR req., disqualified under sec 164, sec 162 is applicable.

89
Q
  • Disqualification for Appointment of director
    Ch 1
A

IIM Calls OFF Order 152 165 188 – Undischarged Insolvent, Application for insolvent pending, Unsound mind, Calls not paid > 6m, Order of disqualification by court, 152 not complied, 165 not complied, 188 mai penalty.

90
Q
  • CP and CS to ensure while AC AV means of meeting
    Ch 2
A

IFRS DHS – Integrity, facilities, record, store, no other person than director, everyone able to hear and see.

91
Q
  • Applicability for Audit Committee/NRC sec 177
    Ch 2
A

Listed co, Public co. – PUSC >= 10cr Loan > 50cr TO >= 100cr. Except JV/WOS/Dormant.

92
Q
  • Role of Audit Committee
    Ch 2
A

A SAFE RPT – Auditor – recommend/independence/report, scrutiny of loans and inv., Valuation of assets, funds manage, evaluation of IFC, RPT txn.

93
Q
  • Applicability of Vigil Mechanism
    Ch 2
A

Listed co., co. having deposits, co. having borrow from PFI > 50cr

94
Q
  • Board to not perform certain activities without SR
    Ch 2
A

SALE – Sell/lease undertaking, Invest fund of amalgamation, Loan + existing > PUSC + FR + SP, Extension of debt to director.

95
Q
  • Disqualification for Appointment of director
    Ch 2
A

IIM Calls OFF Order 152 165 188 – Undischarged Insolvent, Application for insolvent pending, Unsound mind, Calls not paid > 6m, Order of disqualification by court, 152 not complied, 165 not complied, 188 mai penalty.

96
Q
  • No company to appoint MD/WTD/Manager having
    Ch 3
A

AICC – Age <21 >70, Insolvent, Creditors payment, convicted > 6m.

97
Q
  • Additional eligibility for appointment of MD/WTD/Manager
    Ch 3
A

RAID – Resident >12m, Age, Imprisonment or fine, detained under COFEPSA.

98
Q

Applicability for Whole time KMP
Ch 3

A

Listed co., Public co. - PUSC >= 10cr.

99
Q
  • Non applicability of Chairperson and MD/CEO to be same
    Ch 3
A

Public co. – PUSC >= 100cr and TO >= 1000cr. + multiple business + CEO at each business.

100
Q
  • Applicability of Secretarial Audit sec 204
    Ch 3
A

Listed Co., Public co. – PUSC >= 50cr TO>= 250cr Borrow > 100cr.

101
Q
  • Sec 232 merging companies to circulate for meeting
    CAA
A

TEVAR – Terms proposed, Effect on SH and SER, Valuation report of expert, Supplementary A/C, draft is filed with Registrar.

102
Q
  • Tribunal may make provision for merging
    CAA
A

DIL DENA LODe – Date of t/f, Instrument, Legal proceeding, dissolution, employees, non resident, Authorised SC, Listed, Other, Dissenting SH.

CA FINAL (3 decks)

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