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Company Law, 2013 MCQs Set-4
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1. Every officer in default under CSR provisions shall be liable to penalty of:
a. ₹10 lakh minimum
b. One-tenth of amount required to be transferred or ₹2 lakh, whichever is less
c. ₹5 lakh compulsory
d. Imprisonment only
2. CSR activities are carried out in pursuance of:
a. Articles of association
b. Board resolution only
c. CSR policy
d. Prospectus
3. Winding up by Tribunal is governed under:
a. Section 241
b. Section 270
c. Section 135
d. Section 149
4. Section 270 provides for winding up of company by:
a. Central Government
b. Registrar
c. Tribunal
d. SEBI
5. A company may be wound up by Tribunal on a petition under:
a. Section 241
b. Section 272
c. Section 96
d. Section 43
6. A company may be wound up by Tribunal if:
a. It passes a special resolution for winding up
b. It changes directors
c. It alters memorandum
d. It issues debentures
7. A company may be wound up if it has acted against:
a. Sovereignty and integrity of India
b. Security of the State
c. Public order, decency or morality
d. All of the above
8. Tribunal may order winding up where affairs of company have been conducted in:
a. Fair manner
b. Fraudulent manner
c. Ordinary course of business
d. Transparent manner
9. A company may be wound up if it was formed for:
a. Charitable purpose only
b. Educational purpose only
c. Fraudulent or unlawful purpose
d. Agricultural purpose only
10. Winding up may be ordered where persons concerned in formation or management are guilty of:
a. Fraud or misfeasance
b. Misconduct
c. Both A and B
d. Constructive notice
11. A company may be wound up if it defaults in filing financial statements or annual returns for:
a. Two consecutive financial years
b. Three consecutive financial years
c. Five consecutive financial years
d. Ten consecutive financial years
12. Tribunal may wind up a company where it is of the opinion that it is:
a. Commercially profitable
b. Just and equitable to wind up
c. Beneficial to creditors only
d. Required by shareholders only
13. Petition for winding up is governed under:
a. Section 270
b. Section 271
c. Section 272
d. Section 273
14. A petition for winding up to the Tribunal may be presented by:
a. The company
b. Any contributory
c. Registrar
d. All of the above
15. Under Section 272, a winding up petition may be presented by:
a. Any contributory or contributories
b. Auditor only
c. Debenture trustee only
d. Share transfer agent
16. Registrar may present petition for winding up before:
a. Central Government
b. SEBI
c. Tribunal
d. Supreme Court
17. Any person authorised by the Central Government may present petition for:
a. Incorporation
b. Winding up
c. Amalgamation
d. Share transfer
18. In cases falling under Section 271(b), petition for winding up may also be presented by:
a. State Government or Central Government
b. Registrar only
c. Any shareholder only
d. Auditor
19. A petition for winding up may be presented jointly by:
a. Company and contributories
b. Registrar and auditor
c. Shareholder and creditor only
d. Directors only
20. Constitution of National Company Law Tribunal is provided under:
a. Section 406
b. Section 407
c. Section 408
d. Section 410
21. National Company Law Tribunal is constituted by:
a. Supreme Court
b. Parliament
c. Central Government by notification
d. SEBI
22. NCLT is constituted with effect from such date as may be specified in:
a. Memorandum
b. Articles
c. Notification
d. Prospectus
23. The Tribunal constituted under Section 408 is known as:
a. National Company Law Appellate Tribunal
b. Securities Appellate Tribunal
c. National Company Law Tribunal
d. Debt Recovery Tribunal
24. NCLT shall consist of:
a. President only
b. Judicial Members only
c. Technical Members only
d. President, Judicial Members and Technical Members
25. Judicial and Technical Members of NCLT are appointed by:
a. Supreme Court
b. Central Government
c. Parliament
d. SEBI
26. The number of Judicial and Technical Members of NCLT shall be such as:
a. Parliament fixes permanently
b. Supreme Court determines
c. Central Government may deem necessary
d. SEBI recommends
27. NCLT exercises and discharges such powers and functions as are conferred by:
a. Companies Act only
b. Constitution only
c. Companies Act or any other law in force
d. SEBI Regulations only
28. The powers and functions of NCLT may be conferred under:
a. This Act
b. Any other law for the time being in force
c. Both A and B
d. Civil Procedure Code only
29. Members of NCLT are appointed through:
a. Ordinance
b. Notification
c. Circular
d. Gazette without notification
30. Qualification of President and Members of Tribunal is governed under:
a. Section 408
b. Section 409
c. Section 410
d. Section 411
31. A person shall be qualified to be appointed as President of NCLT if he:
a. Has been District Judge for five years
b. Has been Judge of High Court for five years
c. Has been Advocate for ten years
d. Has been Company Secretary for fifteen years
32. A person shall be qualified as Judicial Member if he:
a. Is or has been Judge of High Court
b. Is or has been District Judge for at least five years
c. Has been advocate for at least ten years
d. All of the above
33. For qualification as Judicial Member, an advocate must have practice of at least:
a. Five years
b. Seven years
c. Ten years
d. Fifteen years
34. In computing period of advocacy for Judicial Member, period spent in judicial office:
a. Shall not be included
b. Shall be included
c. Shall be included only after retirement
d. Shall be excluded by Tribunal
35. A Technical Member may be appointed if he has been member of Indian Corporate Law Service or Indian Legal Service for at least:
a. Five years
b. Ten years
c. Fifteen years
d. Twenty years
36. A member of Indian Corporate Law Service for appointment as Technical Member must have held rank of:
a. Under Secretary
b. Joint Secretary
c. Secretary or Additional Secretary to Government of India
d. District Magistrate
37. A person in practice as Chartered Accountant for at least ______ years may be appointed as Technical Member.
a. Five
b. Ten
c. Fifteen
d. Twenty
38. A person in practice as Cost Accountant for at least ______ years may be appointed as Technical Member.
a. Five
b. Ten
c. Fifteen
d. Twenty
39. A person in practice as Company Secretary for at least ______ years may be appointed as Technical Member.
a. Five
b. Ten
c. Fifteen
d. Twenty
40. A person having proven ability, integrity and standing with professional experience in industrial finance or management for not less than ______ years may be appointed as Technical Member.
a. Five
b. Ten
c. Fifteen
d. Twenty
41. A person who has been Presiding Officer of Labour Court, Tribunal or National Tribunal for at least ______ years may be appointed as Technical Member.
a. Two
b. Three
c. Five
d. Ten
42. Constitution of Appellate Tribunal is provided under:
a. Section 408
b. Section 409
c. Section 410
d. Section 411
43. The Appellate Tribunal constituted under Section 410 is known as:
a. National Company Law Tribunal
b. National Company Law Appellate Tribunal
c. Securities Appellate Tribunal
d. Debt Recovery Appellate Tribunal
44. National Company Law Appellate Tribunal is constituted by:
a. Supreme Court
b. Parliament
c. Central Government by notification
d. SEBI
45. NCLAT shall consist of:
a. Chairperson only
b. Judicial Members only
c. Technical Members only
d. Chairperson, Judicial Members and Technical Members
46. The number of Judicial and Technical Members of NCLAT shall be such as:
a. Parliament may decide
b. Supreme Court may decide
c. Central Government may deem fit
d. SEBI may recommend
47. Members of NCLAT are appointed by:
a. Supreme Court
b. Central Government
c. President of India directly
d. Parliament
48. NCLAT hears appeals against:
a. Orders of Tribunal
b. Orders of National Financial Reporting Authority
c. Both A and B
d. Orders of Registrar only
49. Appeals relating to Competition Act, 2002 may also be heard by:
a. Supreme Court only
b. High Court only
c. NCLAT
d. Registrar
50. Appeals under Competition Act, 2002 are heard by NCLAT under:
a. Section 53A
b. Section 149
c. Section 270
d. Section 408
51. NCLAT is constituted with effect from such date as specified in:
a. Memorandum
b. Notification
c. Articles
d. Prospectus
52. Qualifications of Chairperson and Members of Appellate Tribunal are governed under:
a. Section 409
b. Section 410
c. Section 411
d. Section 412
53. Chairperson of NCLAT shall be a person who is or has been:
a. District Judge
b. Judge of Supreme Court or Chief Justice of High Court
c. Advocate for ten years
d. Judicial Member of Tribunal only
54. A Judicial Member of NCLAT shall be a person who:
a. Is or has been Judge of High Court
b. Is Judicial Member of Tribunal for five years
c. Either A or B
d. Has been Registrar
55. A Technical Member of NCLAT shall possess special knowledge and professional experience of not less than:
a. Ten years
b. Fifteen years
c. Twenty years
d. Twenty-five years
56. Technical Member of NCLAT must possess:
a. Proven ability
b. Integrity and standing
c. Special knowledge in industrial finance, management, reconstruction, investment or accountancy
d. All of the above
57. Selection of Members of Tribunal and Appellate Tribunal is governed under:
a. Section 410
b. Section 411
c. Section 412
d. Section 413
58. President of Tribunal and Chairperson of Appellate Tribunal are appointed after consultation with:
a. Prime Minister
b. President of India
c. Chief Justice of India
d. SEBI
59. Members of Tribunal and Technical Members of Appellate Tribunal are appointed on recommendation of:
a. Parliament
b. Selection Committee
c. Supreme Court
d. Registrar
60. The Chairperson of Selection Committee shall be:
a. Secretary, Ministry of Law and Justice
b. Chief Justice of India or his nominee
c. Secretary, Ministry of Corporate Affairs
d. President of Tribunal
61. A senior Judge of Supreme Court or Chief Justice of High Court in Selection Committee acts as:
a. Convener
b. Chairperson
c. Member
d. Registrar
62. Secretary in the Ministry of Corporate Affairs acts as:
a. Chairperson of Selection Committee
b. Judicial Member
c. Member and Convener of Selection Committee
d. Technical Member
63. Secretary in the Ministry of Law and Justice is:
a. Chairperson
b. Member of Selection Committee
c. Judicial Member
d. Technical Member
64. In case of equality of votes in Selection Committee:
a. Matter is rejected
b. Chief Justice decides separately
c. Chairperson has casting vote
d. Central Government decides
65. The Selection Committee shall determine:
a. Salaries of members
b. Procedure for recommending persons
c. Jurisdiction of Supreme Court
d. Corporate Social Responsibility policy
66. Appointment of Members of Tribunal or Appellate Tribunal shall not be invalid merely due to:
a. Vacancy or defect in constitution of Selection Committee
b. Retirement of Chairperson
c. Transfer of Registrar
d. Non-filing of annual return
67. Term of office of President, Chairperson and other Members is governed under:
a. Section 411
b. Section 412
c. Section 413
d. Section 414
68. President and every other Member of the Tribunal shall hold office for a term of:
a. Three years
b. Four years
c. Five years
d. Six years
69. President and Members of Tribunal are eligible for:
a. No reappointment
b. Reappointment for another term of five years
c. Reappointment for ten years only
d. Lifetime appointment
70. Maximum age of President of Tribunal is:
a. Sixty-five years
b. Sixty-seven years
c. Seventy years
d. Seventy-two years
71. Maximum age of any other Member of Tribunal is:
a. Sixty years
b. Sixty-two years
c. Sixty-five years
d. Sixty-seven years
72. A person below the age of ______ years shall not be eligible for appointment as Member of Tribunal.
a. Thirty-five
b. Forty
c. Forty-five
d. Fifty
73. A Member of Tribunal may retain lien with parent cadre or department for a period not exceeding:
a. Six months
b. One year
c. Two years
d. Five years
74. Chairperson or Member of Appellate Tribunal shall hold office for a term of:
a. Three years
b. Four years
c. Five years
d. Six years
75. Chairperson and Members of Appellate Tribunal are eligible for:
a. No reappointment
b. Reappointment for another term of five years
c. Lifetime appointment
d. Reappointment till seventy-five years
76. Maximum age of Chairperson of Appellate Tribunal is:
a. Sixty-five years
b. Sixty-seven years
c. Seventy years
d. Seventy-two years
77. Maximum age of any other Member of Appellate Tribunal is:
a. Sixty-five years
b. Sixty-seven years
c. Sixty-eight years
d. Seventy years
78. A person below the age of ______ years shall not be eligible for appointment as Member of Appellate Tribunal.
a. Thirty-five
b. Forty
c. Forty-five
d. Fifty
79. Acting President and Chairperson of Tribunal or Appellate Tribunal is governed under:
a. Section 414
b. Section 415
c. Section 416
d. Section 417
80. In case of vacancy in office of President or Chairperson due to death, resignation or otherwise:
a. Central Government immediately acts as President
b. Senior-most Member shall act as President or Chairperson
c. Registrar shall discharge functions
d. Judicial Member alone shall act
81. The senior-most Member acts as President or Chairperson until:
a. Expiry of five years
b. New President or Chairperson enters upon office
c. Next annual general meeting
d. Central Government notification expires
82. Where President or Chairperson is unable to discharge functions due to absence or illness:
a. Functions cease automatically
b. Registrar performs duties
c. Senior-most Member shall discharge functions
d. Ministry of Corporate Affairs performs duties
83. Resignation of Members is governed under:
a. Section 414
b. Section 415
c. Section 416
d. Section 419
84. President, Chairperson or Member may resign by:
a. Oral communication
b. Resolution of Tribunal
c. Notice in writing addressed to Central Government
d. Notice to Registrar
85. After resignation, President, Chairperson or Member shall continue in office until:
a. Expiry of three months from receipt of notice by Central Government
b. Successor enters upon office
c. Expiry of term of office
d. Whichever is earliest
86. Removal of Members is governed under:
a. Section 415
b. Section 416
c. Section 417
d. Section 419
87. The Central Government may remove the President, Chairperson or Member after consultation with:
a. Prime Minister
b. Chief Justice of India
c. Parliament
d. SEBI
88. A President, Chairperson or Member may be removed if he:
a. Has been adjudged insolvent
b. Has been convicted of an offence involving moral turpitude
c. Has become physically or mentally incapable
d. All of the above
89. A President, Chairperson or Member may be removed if he has acquired:
a. Educational qualification
b. Financial or other interest affecting his functions prejudicially
c. Share qualification only
d. Political office
90. A President, Chairperson or Member may be removed if he has:
a. Resigned voluntarily
b. Attained age of retirement
c. Abused his position prejudicially to public interest
d. Completed five years
91. Before removal under clauses (b) to (e), reasonable opportunity of ______ shall be given.
a. Promotion
b. Appeal
c. Hearing
d. Retirement
92. Removal on ground of proved misbehaviour or incapacity requires inquiry by:
a. High Court Judge
b. District Judge
c. Judge of Supreme Court nominated by Chief Justice of India
d. Registrar
93. The reference for inquiry under Section 417(2) is made by:
a. Supreme Court
b. Central Government
c. Parliament
d. NCLAT
94. During inquiry, the President, Chairperson or Member shall be:
a. Removed immediately without hearing
b. Given opportunity of being heard
c. Arrested compulsorily
d. Disqualified permanently
95. Central Government may suspend the President, Chairperson or Member:
a. Without concurrence of Chief Justice of India
b. With concurrence of Chief Justice of India
c. Only with approval of Parliament
d. Only after Supreme Court judgment
96. Central Government may make rules regarding inquiry after consultation with:
a. SEBI
b. Supreme Court
c. High Court
d. Registrar
97. Benches of Appellate Tribunal are governed under:
a. Section 417
b. Section 418
c. Section 418A
d. Section 419
98. The powers of the Appellate Tribunal may be exercised by:
a. Central Government only
b. Registrar
c. Benches constituted by the Chairperson
d. Supreme Court
99. A Bench of the Appellate Tribunal shall consist of at least:
a. One Judicial Member only
b. One Technical Member only
c. One Judicial Member and one Technical Member
d. Three Judicial Members
100. Benches of the Appellate Tribunal shall ordinarily sit at:
a. Mumbai
b. Chennai
c. Kolkata
d. New Delhi
101. Benches of the Appellate Tribunal may also sit at places notified by:
a. Supreme Court
b. Central Government in consultation with Chairperson
c. Registrar
d. SEBI
102. Additional Benches of Appellate Tribunal may be established by:
a. Parliament
b. Supreme Court
c. Central Government by notification
d. High Court
103. Additional Benches under Section 418A may hear appeals under:
a. Competition Act, 2002
b. Insolvency and Bankruptcy Code, 2016
c. Both A and B
d. Civil Procedure Code
104. Appeals under Competition Act referred in Section 418A relate to:
a. Section 149
b. Section 53A
c. Section 270
d. Section 408
105. Appeals under Insolvency and Bankruptcy Code referred in Section 418A relate to:
a. Section 61
b. Section 135
c. Section 241
d. Section 96
106. Benches of Tribunal are governed under:
a. Section 418
b. Section 418A
c. Section 419
d. Section 420
107. Number of Benches of Tribunal shall be specified by:
a. Supreme Court
b. Parliament
c. Central Government by notification
d. SEBI
108. The Principal Bench of the Tribunal shall be situated at:
a. Mumbai
b. Chennai
c. Kolkata
d. New Delhi
109. The Principal Bench of the Tribunal shall be presided over by:
a. Chairperson of Appellate Tribunal
b. President of Tribunal
c. Registrar
d. Judicial Member
110. Benches of Tribunal are constituted by:
a. Notification of Central Government
b. Resolution of Parliament
c. Order of Supreme Court
d. Notification of SEBI
111. Appeal from orders of Tribunal is governed under:
a. Section 419
b. Section 420
c. Section 421
d. Section 423
112. Any person aggrieved by an order of the Tribunal may prefer appeal to:
a. High Court
b. Supreme Court
c. Appellate Tribunal
d. Central Government
113. No appeal shall lie to the Appellate Tribunal from an order made by Tribunal:
a. Ex parte
b. With consent of parties
c. Against public interest
d. By technical member
114. Appeal under Section 421 shall be filed within:
a. Thirty days
b. Forty-five days
c. Sixty days
d. Ninety days
115. The limitation period for appeal is counted from the date on which:
a. Order is passed
b. Order is signed
c. Copy of order is made available to aggrieved person
d. Appeal is drafted
116. Appeal under Section 421 shall be:
a. Oral
b. In prescribed form with prescribed fees
c. Without fees
d. Filed only physically
117. Appellate Tribunal may entertain appeal after expiry of forty-five days if:
a. Appellant pays extra fees
b. Tribunal permits generally
c. Sufficient cause prevented filing within time
d. Registrar recommends
118. Delay condonation under Section 421 may extend for a further period not exceeding:
a. Thirty days
b. Forty-five days
c. Sixty days
d. Ninety days
119. Appeal to Supreme Court is governed under:
a. Section 421
b. Section 422
c. Section 423
d. Section 424
120. Any person aggrieved by an order of the Appellate Tribunal may appeal to:
a. High Court
b. Central Government
c. Supreme Court
d. Registrar
121. Appeal to Supreme Court under Section 423 lies on:
a. Question of fact only
b. Question of law arising out of such order
c. Administrative ground only
d. Question of valuation only
122. Appeal to Supreme Court shall be filed within:
a. Thirty days
b. Forty-five days
c. Sixty days
d. Ninety days
123. The limitation period for appeal to Supreme Court is counted from:
a. Date of pronouncement of order
b. Date of receipt of order of Appellate Tribunal
c. Date of filing before Tribunal
d. Date of publication in Gazette
124. Supreme Court may condone delay in filing appeal if:
a. Appellant pays penalty
b. Sufficient cause prevented filing within time
c. Tribunal recommends
d. Central Government directs
125. The further period within which Supreme Court may allow filing of appeal shall not exceed:
a. Thirty days
b. Forty-five days
c. Sixty days
d. Ninety days