National Management College – Perundurai
CA Foundation Batch : 2023-2024
Paper 2 : Business laws
Test portions: Companies act 2013 &LLP Act 2008
Maximum Marks : 25 Time Allowed : 60 Minutes
A1. nswer any 3 from 5 questions 3*5
- Explain clearly the doctrine of ‘ Indoor Management’ as applicable is cases of companies registered under the Companies Act, 2013. Explain the circumstances in which an outsider dealing with the company cannot claim any relief on the ground of ‘Indoor Management’.
- Explain the essential elements to incorporate a Limited Liability Partnership under the LLP Act, 2008
- Write short notes on Public Financial Institutions and Dormant companies
- Write the characteristics of company.
- Difference between Partnership and LLP
Answer all the questions:
- F Limited was registered as a public company. There are 230 members in the company as noted below:
| (a) | Directors and their relatives | 50 |
| (b) | Employees | 15 |
| (c) | Ex- Employees (Share were allotted when they were employees) | 10 |
| (d) | 5 Couples holding shares jointly in the name of husband and wife (5*2) | |
| (e) | Others | 145 |
The Board of Directors of the company Propose to convert it into a private company. Also advise whether reduction in the numbers is necessary.
- Y dairy products Private limited has registered its articles along with memorandum at the time of registration of company in September, 2022. Now directors of the company are of the view that provisions of articles regarding forfeiture of shares should not be changed except by a resolution of 90% majority.
While as per section 14 of the companies Act, 2013 articles may be changed by passing a special resolution only. One of the directors said that they cannot make a provision against the Companies Act. You are required to advise the company on this matter.
