Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Company Law Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email State 1. The primary legislation governing companies in India is: The Companies Act, 1956 The Companies Act, 2013 The SEBI Act, 1992 The Partnership Act, 1932 None 2. The maximum number of shareholders in a private company is: 50 100 200 300 None 3. A company is said to be a ‘going concern’ if: It is making profits It continues to exist in the foreseeable future It does not declare bankruptcy It pays dividends regularly None 4. Which of the following companies is required to appoint a Company Secretary? A private company with paid-up capital of ₹5 crores A public company with paid-up capital of ₹10 crores A listed company only A partnership firm None 5. The liability of members in a company limited by guarantee is: Limited to unpaid share capital Limited to the amount guaranteed Unlimited Fixed by directors None 6. The minimum number of directors required in a private company is: One Two Three Five None 7. The document inviting the public to subscribe for shares or debentures is called: Memorandum of Association Articles of Association Prospectus Share Certificate None 8. A company’s financial statements must be signed by: The CEO only At least two directors, including the managing director The Company Secretary only The Shareholders None 9. An independent director must not have any pecuniary relationship with: The company The company’s holding or subsidiary The promoters All of the above None 10. The maximum number of partners in a Limited Liability Partnership (LLP) is: 10 20 52 No limit None 11. A director who is absent from Board meetings for ____ months without permission may be removed. 3 months 6 months 9 months 12 months None 12. The registered office of a company must be declared within how many days of incorporation? 15 days 30 days 60 days 90 days None 13. Which company must compulsorily list its shares on a recognized stock exchange? Private Company One Person Company Public Listed Company Government Company None 14. Who has the power to remove a director before the expiry of his term? Shareholders by passing an Ordinary Resolution Board of Directors Registrar of Companies Ministry of Corporate Affairs None 15. The statutory auditor of a company holds office for a term of: 1 year 2 year 5 year 10 year None 16. The financial year of a company must be from: 1st April to 31st March 1st January to 31st December 1st July to 30th June Any period as decided by the Board None 17. The National Company Law Tribunal (NCLT) was established under which Companies Act? Companies Act, 1956 Companies Act, 2013 Companies Act, 2000 Companies Act, 1991 None 18. A dormant company is a company that: Has not carried out any business for two consecutive financial years Is in liquidation Is under investigation Has defaulted in debt payments None 19. Which form is filed for appointment of a director? DIR-1 DIR-2 DIR-3 DIR-12 None 20. Which committee is responsible for implementing Corporate Social Responsibility (CSR)? Audit Committee CSR Committee Risk Management Committee Nomination and Remuneration Committee None 21. The buyback of shares cannot exceed what percentage of paid-up capital and free reserves? 10% 15% 25% 50% None 22. Which of the following companies is required to file a Secretarial Audit Report? Every listed company Every public company with paid-up capital of ₹50 crores or more Every public company with turnover of ₹250 crores or more All of the above None 23. The penalty for non-compliance with CSR provisions under the Companies Act, 2013 is: ₹25,000 ₹50,000 ₹1 Lakh to ₹25 Lakhs No penalty None 24. In which year was the National Company Law Appellate Tribunal (NCLAT) established? 2000 2013 2016 2020 None 25. A resolution requiring a 75% majority of shareholders is called: Ordinary Resolution Special Resolution Board Resolution Directors’ Resolution None 26. The Companies Act, 2013 contains how many schedules? 5 7 10 12 None 27. A charge on company assets must be registered within how many days? 7 days 30 days 60 days 90 days None 28. Which form is used to apply for a Director Identification Number (DIN)? DIR-1 DIR-2 DIR-3 DIR-4 None 29. Which of the following is not a mode of winding up a company? Voluntary winding up Compulsory winding up by the tribunal Automatic winding up Winding up under the Insolvency None 30. The approval of which regulatory authority is required for a merger between two listed companies? SEBI MCA RBI NCLT None 31. Which document defines the objectives and scope of a company's operations? Articles of Association Memorandum of Association Prospectus Share Certificate None 32. Which of the following is not a feature of a private company? Restriction on transfer of shares Minimum of two members No limit on the number of members Cannot issue shares to the public None 33. The minimum paid-up capital required for forming a private company is: ₹1 Lakh ₹5 Lakh ₹10 Lakh No minimum requirement None 34. Under the Companies Act, 2013, the minimum number of members required to form a public company is: 2 3 5 7 None 35. Which of the following is a mode of alteration of Articles of Association? By passing an Ordinary Resolution By passing a Special Resolution By obtaining approval from the Registrar of Companies By a decision of the Board of Directors None 36. A company that fails to file its annual returns for two consecutive years is considered: Dormant Wound up Defunct Liquidated None 37. The statutory meeting of a public company must be held within how many months of incorporation? 3 months 6 months 9 months 12 months None 38. Which authority has the power to grant approval for the name of a new company? SEBI Registrar of Companies (ROC) Ministry of Finance Reserve Bank of India None 39. In the case of a listed company, what percentage of directors must be independent? 25% 33% 50% 75% None 40. The quorum for a Board Meeting in a company with more than 5 directors is: 2 directors 3 directors 1/3rd of the total strength or 2 directors, whichever is higher 1/4th of the total strength or 3 directors, whichever is higher 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. Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
