P13 Qpma

MTP-QP-Dec2022-Final Examination- Syllabus2016-P13-S1
Paper 13- Corporate Laws and Compliance
DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1
Paper-13: Corporate Laws and Compliance
Full Marks: 100 Time allowed:3 hours
PART – I
Answer Question Number 1 which is compulsory (2x10= 20)
1. Multiple choice question
(i) A company shall have its Registered Office within the ______ day of its incorporation.
(A) 7th day
(B) 15th day
(C) 21st day
(D) 30th day
(ii) Power to recognize Stock Exchange vests with

(A) Central Government
(B) State Government
(C) SEBI
(D) Supreme Court
(iii) A company has 9 Directors, on 01-01-2021. The office of 2 Directors have fallen vacant
on02-01-2021. The quorum required for conducting a board meeting is
(A) 4
(B) 3
(C) 2
(D) 5
(iv) A memorandum containing such salient features of a prospectus as may be specified

bythe Securities and Exchange Board by making regulation in this behalf is known as
(A) Red Herring Prospectus
(B) Abridged Prospectus
(C) Shelf Prospectus
(D) Deemed Prospectus
(v) As per Companies Act must have a minimum of One Director. The Sole Shareholder can
himself be the SoleDirector. The Company may have a maximum number of 15 directors.
These features belong to which of following company?
(A) Private Company
(B) Small Company
(C) Public Company
(D) One Person Company
(vi) Which among the following transaction does not mean ‘Significant accounting
transaction’?
(A) payment of fees by a company to the Registrar
(B) payments made by it to fulfill the requirements of this Act or any other law
(C) allotment of shares to fulfill l the requirements of this Act

(D) All of the above
(vii) The Tenure of the Chairman of the Insurance Regulatory and Development Authority
is_from the date on which he enters upon his office and should be eligible for
reappointment.
(A) 3 Years
(B) 4 Years
(C) 5 Years
(D) 6 Years
(viii) First Board meeting of every company should be held within_________.

(A) 3 months of its incorporation
(B) 30 days of its incorporation,
(C) 15 days of its incorporation
(D) 4 months of its incorporation
(ix) Dormant company is formed and registered under The Companies Act:
(A) for a future project
(B) To hold an asset
(C) Intellectual property and has no significant accounting transaction
(D) All of the above
(E) Identify from the following is not the objective of Competition Act, 2002?
(F) To prevent practices having adverse effect on competition
(G) To prevent competition in market
(H) To protect the interest of the consumers
(I) To ensure freedom of trade carried on by the other participant in marketing India
andfor matter connected there with or incidental thereto.
PART – II
Answer any five questions from question numbers 2 to 8. Each question carries 16 marks
[16x5= 80]
2. (a) The Board of Directors of XYZ Company Limited at its meeting declared a dividend on its paid-
up equity share capital which was later on approved by the company's Annual General Meeting.
In the meantime, the directors at another meeting of the Board decided by passing a resolution
to divert the total dividend to be paid to shareholders for purchase of investments for the
company. As a result, a dividend was paid to shareholders after 45 days. Examining the provisions
of the Companies Act, 2013, state. 10
(i) Whether the act of directors is in violation of the provisions of the Act and also the
consequences that shall follow for the above act of directors?
(ii) What would be your answer in case the amount of dividend to a shareholder is adjusted
by the company against certain dues to the company from the shareholder?
(b) Discuss the duties of the inspector as enumerated in Sec 223 of the Companies Act,
2013 in relation to his report. 6
3. (a) Person who are not entitled to initiate insolvency resolution process -Discuss 9
(b) what are the duties of Directors under the provisions of Companies Act,2013 7
4. (a) Define subsidiary company as per Companies Act? 9

(b) Discuss the procedure for removable of members under Section 417 of Companies Act,2013. 7
5. (a) What are the Conditions for Initial Public Offer. 9

(b) Power of Commission to regulate its own procedure as per The Competition Act,2002 7
6. (a) As per Foreign Exchange Management Act,1999 Reserve Bank has the power to inspect
authorized person. 8
(b) How does Money Laundering actually take place? 8
7. (a) Explain the OECD principles of Corporate Governance. 8

(b) Benefits of CSR programme 8
8. Write short notes any four of the following: 4×4=16
(a) Persons who are not entitled to initiate insolvency resolution process
(b) Guidance on implementation of principles and Core Elements. (National Voluntary

Guidelines 2011)
(c) Disadvantages of the family Businesses over non-family Businesses
(d) CSR can mean different things to different people. Explain
(e) Strategy to tackle black money

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MTP-QP-Dec2022-Final Examination- Syllabus2016-P13-S1

Paper 13- Corporate Laws and Compliance

Full Marks: 100 Time allowed:3 hours

Answer Question Number 1 which is compulsory (2x10= 20)

1. Multiple choice question

(ii) Power to recognize Stock Exchange vests with

(iv) A memorandum containing such salient features of a prospectus as may be specified

(C) allotment of shares to fulfill l the requirements of this Act

(viii) First Board meeting of every company should be held within_________.

4. (a) Define subsidiary company as per Companies Act? 9

5. (a) What are the Conditions for Initial Public Offer. 9

7. (a) Explain the OECD principles of Corporate Governance. 8

8. Write short notes any four of the following: 4×4=16

(b) Guidance on implementation of principles and Core Elements. (National Voluntary

(c) Disadvantages of the family Businesses over non-family Businesses

(d) CSR can mean different things to different people. Explain

(e) Strategy to tackle black money

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