Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Economic Laws Total Number of Question: 40 Time: 41 Minutes All the best... Kind Regards CMA Madhuri Kashyap Profile: Click Here! Name Phone No Email Area Pin Code 1. A company must hold its first Annual General Meeting (AGM) within: 6 months from incorporation 9 months from the end of the first financial year 12 months from incorporation 18 months from incorporation None 2. A company that fails to hold its AGM within the prescribed time is liable for a penalty under: Section 92 Section 96 Section 102 Section 108 None 3. A resolution requiring a 3/4th majority of members present and voting is known as a: Ordinary Resolution Special Resolution Unanimous Resolution Board Resolution None 4. Which form is used for filing a special resolution with the Registrar of Companies (ROC)? MGT-7 INC-22 MGT-14 AOC-4 None 5. Which type of meeting is held between two AGMs of a company? Extraordinary General Meeting (EGM) Statutory Meeting Board Meeting None of the above None 6. A quorum for a General Meeting in a private company with more than 30 members is: 2 members 6 members 3 members 7 members None 7. Who is responsible for maintaining the Minutes of a Board Meeting? CEO Company Secretary Managing Director Shareholders None 8. What is the penalty for failure to file financial statements with the ROC within the prescribed time? ₹10,000 per day ₹1 lakh plus ₹100 per day of default ₹50,000 fixed penalty ₹5 lakh plus ₹500 per day of default None 9. Which of the following requires an Ordinary Resolution? Appointment of a Director Change in Company Name Change in Articles of Association Issuance of Sweat Equity Shares None 10. The notice period required for calling an AGM is: 7 days 14 days 21 days 30 days None 11. Which of the following is NOT regulated by SEBI? Mutual Funds Insurance Companies Merchant Bankers Stock Exchanges None 12. Under SEBI (LODR) Regulations, 2015, listed companies must submit a Corporate Governance Report: Annually Half-yearly Quarterly Monthly None 13. SEBI’s main objective is to: Regulate foreign trade Protect investors and regulate securities markets Control monetary policy Manage public sector banks None 14. Which of the following is NOT a function of SEBI? Prohibiting insider trading Regulating mutual funds Controlling inflation Regulating stock exchanges None 15. Which SEBI regulation governs the issuance of Initial Public Offerings (IPOs)? SEBI (Prohibition of Insider Trading) Regulations SEBI (Issue of Capital and Disclosure Requirements) Regulations SEBI (LODR) Regulations SEBI (Mutual Funds) Regulations None 16. Which entity is responsible for approving resolution plans under IBC? NCLT SEBI RBI High Court None 17. Which of the following is a key objective of IBC? Providing relief to debtors only Ensuring smooth liquidation of companies Maximizing asset value for stakeholders Punishing defaulting borrowers None 18. Who appoints the Insolvency Resolution Professional (IRP)? NCLT Creditors' Committee SEBI Reserve Bank of India None 19. Which is the maximum extension period allowed for Corporate Insolvency Resolution Process (CIRP)? 30 days 60 days 90 days 180 days None 20. If no resolution plan is approved under IBC, what happens to the corporate debtor? It continues business as usual It is liquidated It is taken over by the government It merges with another company None 21. Which agency is responsible for investigating money laundering cases? RBI Enforcement Directorate SEBI CCI None 22. Under PMLA, a reporting entity must file a Suspicious Transaction Report (STR) within: 7 days 14 days 30 days 60 days None 23. The Financial Intelligence Unit (FIU) is under which ministry? Ministry of Finance Ministry of Corporate Affairs Ministry of Home Affairs Ministry of External Affairs None 24. Which of the following transactions is NOT covered under PMLA? Smurfing Insider Trading Structuring Round Tripping None 25. Money laundering typically involves the following stages EXCEPT: Placement Layering Extraction Integration None 26. FEMA primarily regulates transactions related to: Domestic taxation Foreign exchange and trade Industrial licensing Corporate governance None 27. Under FEMA, a current account transaction includes: Foreign investment in real estate Imports and exports of goods Borrowing from foreign banks Acquisition of foreign companies None 28. FEMA is administered by: SEBI RBI Enforcement Directorate Ministry of Finance None 29. Which Act was replaced by FEMA in 1999? Foreign Exchange Regulation Act (FERA) Companies Act, 1956 Income Tax Act, 1961 SEBI Act, 1992 None 30. Which authority monitors cross-border money transactions? RBI SEBI FIU NCLT None 31. The time limit for filing annual returns by a company is: 30 days 45 days 60 days 90 days None 32. The mandatory open offer threshold is triggered under: Companies Act SEBI Substantial Acquisition of Shares and Takeover (SAST) Regulations Foreign Exchange Management Act Competition Act None 33. Which section of the Competition Act deals with the abuse of dominant position? Section 3 Section 4 Section 5 Section 6 None 34. What is the minimum paid-up share capital required for a private company under the Companies Act, 2013? ₹50,000 ₹1,00,000 ₹10,000 No minimum requirement None 35. The time limit for filing annual returns by a company is: 30 days 45 days 60 days 90 days None 36. The maximum penalty for misleading advertisements under the Consumer Protection Act, 2019 is: ₹10 lakh ₹50 lakh ₹1 crore ₹2 crore None 37. Which type of share gives voting rights to its holder? Preference Share Equity Share Debenture Convertible Bond None 38. Which of the following companies is NOT required to appoint an independent director? Listed company Public company with paid-up share capital of ₹10 crore or more Private company with paid-up share capital of ₹50 crore Public company with turnover of ₹100 crore or more None 39. The Competition Commission of India (CCI) was established in: 1991 2003 2009 2015 None 40. Who among the following is responsible for signing the financial statements of a company? CFO Managing Director and Company Secretary Statutory Auditor Any employee of the company None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. 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