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MCQS SESSION WITH CA AMIT POPLI-MAY 24

ATTEMPT
Quest.1 – Company is having, Equity shareholders, Preference shareholders, Debenture holders,
ADR holders with them. How many register they need to open and as per which section

a) 3 Registers as per Sec 88

b) 2 Registers as per Sec 89
c) 4 Registers as per Sec 88
d) 1 Registers as per Sec 89

Quest-2- Mr. Zoey purchased the shares of Luxy Hairstyles Private Limited, at market price, in the
name of his daughter, Mila, who is 4 years old. Mr. Joe, the Director of the Company, has approached
you to advise him on the updation of said change in the register of members, since Mila, being a minor
is incompetent to contract in her capacity.

a) Since shares are purchased in the name of Mila, thus her name only shall
form part of register of members
b) Zoey’s name shall only be appeared in the register of members of Luxy
Hairstyles Private Limited since Mila is a minor.
c) Names of the minor can only be entered only if the details of the guardian
are present.
d) Neither Minor nor appointee can find any place in register of company

3. Mrs. And Mr. Taneja, recently got married and jointly purchased the shares of New Hopes India
Private Limited on 14th August 2018. Mr. Taneja intimated the company that only the name of his wife
should appear in the records of the company, for the shares purchased by them. The secretary of the
company is not sure whether this is possible, given that the shares are held in the names of both the
persons.
a) Joint holders of shares can not request the company to enter their names
on the register in any order
b) condition of Mr. Taneja that only the name of his wife should appear in the
register as a member cannot be catered to
c) No problem in accepting the request of Mr Taneja
d) Company can accept such request subject to submission of indemnity bond
and affidavit by Mr Taneja

4. In above case, shares purchased jointly were 10,000 shares and Mr Taneja want 6,000 shares to be
registered in his name and rest in the name of his wife Mrs Taneja

a) Allowed, since Joint holders of shares may request the company to have their holding split,
with the result that part of the holding is entered showing the name of one holder and
part showing the name of another
b) Disallowed, as this is not the way in which join holder shall appear.
c) Disallowed, as name should appear jointly in 50% each
d) None of above
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MCQS SESSION WITH CA AMIT POPLI-MAY 24
ATTEMPT

5. Ms. Emma gifted the shares purchased by her of the Company Bio-Optics Limited, to her sister
Cathy. Emma had purchased these shares on the occasion of her birthday in February 2019. However,
neither Emma nor Cathy were aware that they had to intimate about the transaction of transfer of
such shares as a gift, to the company. Discuss the same in light of the provisions of section 89 of the
Act.

a) where the shares are gifted away, they become the property of the donee. Hence, the
provisions relating to declaration of beneficial interest are not applicable.
b) Emma need to submit a declaration in form MGT-4, whereas Cathy need to submit the same
in MGT-5
c) Emma need to submit a declaration in form MGT-5, whereas Cathy need to submit the same
in MGT-4
d) Emma need to submit a declaration in form BEN-3, whereas Cathy need to submit the same
in BEN-4

6. Big Fox Private Limited called it’s Annual General Meeting on 30th September, 2018 for laying down
the financial statement for approval of its shareholders’ for the financial year ended 31st March 2018.
However, due to want of quorum, the meeting could not take place and was cancelled. The company
has not filed the annual financial statements or the annual return for the year ending March 2018,
with the RoC till date. The director is of the view that since the annual general meeting did not take
place, the period of 60 days for filing of annual return is not applicable and thus, there is no
contravention of section 92. Discuss.
a) Stand taken by director is correct, since every company has to file an annual return with
the RoC in Form MGT – 7 within 60 days of date on which annual general meeting is held
b) Stand taken by director is incorrect correct, since every company has to file an annual
return with the RoC in Form MGT – 8 within 60 days of date on which annual general
meeting was held or the date when it must have been held
c) every company has to file an annual return with the RoC in Form MGT – 7 within 60 days
of date on which annual general meeting was held or the date when it must have been
held
d) None of above

7. Tulip Ltd. maintains its Register of Members at its registered office in Mumbai. A group of members
residing in Kolkata want to keep the register of members at Kolkata. Explain with provisions of
Companies Act, 2013, whether the company can keep the Registers and Returns at Kolkata.

a) Yes, subject to approval by members and CG

b) Yes, provided one-tenth or more of the total number of members entered in the
register of members reside in Kolkata and subject to S/Res
c) Yes, provided more than one-tenth of the total number of members entered in the
register of members reside in Kolkata.
d) Yes, provided more than one-tenth of the total number of members entered in the
register of members reside in Kolkata and subject to S/Res
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MCQS SESSION WITH CA AMIT POPLI-MAY 24
ATTEMPT

8. Tulip Ltd. maintains its Register of Members at its registered office in Mumbai. A group of members
residing in Kolkata want to keep the register of members at Kolkata. Mr. Rich, holding 400 shares of
total worth ` 4000 only, has the right to inspect the Register of Members?

a) Mr. Rich, who is a shareholder of the company, has a right to inspect the Register of
Members during business hours without payment of any fees
b) Mr. Rich, who is a shareholder of the company, has a right to inspect the Register of
Members during business hours without payment of any fees and subject to restriction
as imposed in Article of company
c) Mr. Rich, who is a shareholder of the company, has a right to inspect the Register of
Members during working hours without payment of any fees
d) Mr. Rich, who is a shareholder of the company, has a right to inspect the Register of
Members during any business day without payment of any fees

9. The register of members along with the index shall be preserved …………………and shall be kept in
the custody of the ……………………………………………………………………for such purpose

a) Permanently, company secretary of the company and any other person authorized by the
Board
b) Permanently, company secretary of the company or any other person authorized by the
Board
c) 8 preceding financial years , company secretary of the company and any other person
authorized by the Board
d) 8 preceding financial years, company secretary of the company or any other person
authorized by the Board

10. Whether company is entitled to refuse inspection facility to any member for any portion of register
of members or other register

a) No, this will amount to contravention

b) Yes, proviso to Sec 94 entitled the company that that such particulars of the register or index
or return as may be prescribed shall not be available for inspection
c) Yes, as register of members is a secret document, thus company can refused inspection at its
own discretion
d) Yes, only if such access has been restricted based on approval of members.

11. A Limited is an unlisted company having paid up share capital of ₹ 10 Cr. Discuss which out of the
following statement is true with regard to signature of annual return.

a) Signed by a director of the company and the company secretary and also need to be certified
by a Company Secretary in practice and the certificate shall be in Form MGT-8
b) Need to be certified by a Company Secretary in practice and the certificate shall be in Form
MGT-8
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MCQS SESSION WITH CA AMIT POPLI-MAY 24
ATTEMPT
c) Annual return has to be signed by a director of the company and the company secretary and
in case, there is no company secretary, by a company secretary in practice
d) Signed by a director of the company and person as authorised by BOD

12. Which out of the following statement is correct with regard to closure of register of members u/s
91

a) It need to be closed for Max 30 days for one time and overall for max 45 days
b) It need to be closed for Max 30 days for AGM and overall for max 45 days
c) It need to be closed for Max 30 days for AGM and for max 15 days for EGM
d) It need to be closed for Max 30 days for one time and overall for max 60 days

13. Who out of the following is not a part of definition of significant beneficial owner
“An individual who acting alone or together, or through one or more persons or trust”
a) holds indirectly, or together with any direct holdings, not less than 10% of the shares
b) holds indirectly, or together with any direct holdings, not less than 10% of the voting rights in
the shares
c) has the right to receive or participate in not less than 10% of the total distributable dividend
d) has the right to exercise, or actually exercises, significant influence or control, in any manner
other than through direct holdings alone

14. Who out of the following is not a part of definition of significant beneficial owner as per Sec 90(1)
a) Every individual, who holds beneficial interests, of not less than twenty-five per cent in shares
of a company
b) Every individual, who exercising significant influence
c) Every individual, who exercising control as defined in clause (27) of section 2,
d) Every individual according to whose advice or instructions, BOD is accustomed to act