SYMBIOSISINTERNATIONAL(DEEMEDUNrwnsITY)

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lnstitute: IOrOZ;SVUAtOStS NOIDA

LAWSCHOOL'

Programme: (010223& 010224)BA LL.B & BBA LL'B

Batch: 9'2015'20
2013-18,2014'1
Semester: Vl
Course: ComPanYLaw ll
CourseCode: 0102230603/0102240603

MaximumMarks: 6O
Date:01/05/2018
am' 12:30
Time:10:00 Pm
Day: Tuesday
ective
arecompulsory'
Instructions:1) All questions
2j Each questioncarriesfwo marks(Total20 Marks)

companies,
ln caseof government of auditoris doneby:
theappointment
Q.1
of lndia
ComptrollerandAuditor-General
Affairs
b. .Ministryof CorPorate
c. Boardof Direotors
d . Registrarof comPanY

Q.2.Liabilityoflndependentdirectorisonlyinoneofthefollowingcases;Whatisthatcase?
which had *'itli
a, ln respectof suchactsof omissionor commissionby a compaly i11111ea
histnowtedge,attributablethroughBoardplocesses'andwifthisconsentorconnlvanceo
wherehe hadnot acteddiligontlY'
whigh had.occurredwith
b. ln respectof suchactsof omissionor commissionby a company
lvanceor wherehe hadnot acteddiligently'
y wherewherehe hadnotacteddiligently'
rmmissionby a companythat he ouughtto havc
rocesses.

Act 2013?
Q,3. Who oanfile olassactiohsuit underseotion245 of the Companies

a, EmploYees
b. AnY aggrievedPerson
c. Depositors
d. Registrarof comPanY
'Majorityrule' is notapplicable?
Q.4, Underwhichof the followingcases

a. The actdoneis illogal

b. The actdoneis ultraviresthe company
c. The actdoneconstitutes a fraud
d. All theabove
Q.5. A Corporirte
SocialResponsibility
Committee
of theBoardmustbeconstituted
by whichof
thefollowing
classof companies?

a. Net worthofrupeesfive hundredcroreor more

b. l'urnover.
of rupees
onethousand croremore
c. A nctprolitofrupeesfivecroreor moreduringanyffnancial
year
d, r-oncof theabove

Q.6. Whichof thefollowingsectionlistsdowntheeligibilityof anindeperrdent

director?
,
a. S.166
b. s.l7l
c . S .1 3 5
d. s. 149

Q.7. Which of the followingsappointan Official liquidator?

a. Boardof Directors
b. Members
c. Creditors
d. Iribunal

andansweqthequestionbelow:-
Q.8. Rcadthe [ollowingstatement
' Statetment1: Maximum term for which an individualcan be appointedas an independent
directoris for 5 years.

Statement2: A cooling off period of 5 years is to be observedbeforean independent

d ircctorcanbe reappointed.

a. StatementI is truebut statement

2 is false.
b. StatementI and2 arefalse.
c. StatementI and2 aretrue,
' rd. StatementI is falsebut statement
2 is true.

Q,9. Readthe followingstaternentand answerthequestionbelow:-

Statctmcut|: Ofllcial liqudarors

and provisionalliquidators
are both appointedby the
'l'ribunal.

Statement2:Powersof a provisionalliquidatorcanbe reducedby the Tribunal.

a. StatementI is truebut statement

2 is false.
b, Statement
I is falsebut statement
2 is true.
-frue.
c. I anri2 are
Statsmcnt
d. Statemcnt
I and2 are['alse.
Q.10.Readthefollowingstatoment
andanswerthequestion
belbwi
Statetment1: Diroctors
havea dutytowards
environment,
community
shareholders
asr.r.cll
ascreditors.

statem'ent2: Directorsduty to contributeto csR is exclusiveof their duty towards

cornniunity.. i
; it:' , .. ,i '
:, ,:
".'
a. Statement
I is true butstatement
2 is false.
b. Statement
I is falsebutstatement
2 is true.
c. Statement
I and2 aieTrue.
d. Statemerit
I and2 areFalse.
 P a r t - l l ( S u b j e c t i vTey p e Q u c s t i o n s )

Instructions:l) All questionsare compulsory.

2) Each questioncarries l0 marks (Total 40 Marks)

Q.l insolvencyand BankruptcyCode posesnew set of challengeson the efficacy of

Windingup provisions underthe Companies Act 2013.Do you agreewith this statement?
from
Discusswith reasonsand illustrations the relevantstatutes.

OR

Q.l ln light of Tata Corusacquisition,explainthe reasonswhy Companyoptedfor doing

acquisitionunder a schemeof atrangementunder the CompaniesAct insteadof under
Takeover Code. Also, discuss the challengesthat a company may face in case of
acquisitionthroughscheme.

Q.2 "Courts/ T'ribunalsdre nere rubber stamps while deciding casesof compromiseand
arrongenients."Do you agreewith this statement?Supportyour answerswith laws and
cases.

OR

Q.2 ln the caseof ProwessInternationalCompanyAppeal (AT) (Insolvency)No 250 of

2017 case,NCLA'| observedthat" ... Insolvency ResolutionProcessis not a recovery
b recoverlhe tluesof the credilors'"Do you think this statement
prot:eetling holdstrue even
fbr windingup casesbroughtunder CompaniesAct 2013. Also discussthe priority of
paymenl.s undertheAct.

Q.3 Can membersof a companyremoveliquidatorsin the windingup proceedings?

Discuss
of
the provisionsrelatingto removal liquidator.

OR

Q,3 In the recentyears,provisionsof oppression and mismanagement are beingusedmore

as a shield than a sword to prevent directorsfrom being sued for their breachof duties
Criticallyanalyzethestatement in lightof case
laws.

Q.4 Amit is a CEO in a companyTescoLtd. He holds29.8per centsharesof the company.

by the promoterswho hold company
In pastfew months,he is facingconstantinterference
sharcsbut arc not holdingany executiveposition.He alwaysshowshis diss€ntto the
pronlorcrsandnorvthe lamiLyis upsetwith him and wishesto removehim fromthepostof
dircctor'.Amit needs your advicc if he can institutea case for oppressionand
rnismanagemeut LheBoardFrc.rm
to prevenl. removinghim from the postof CEO.

OR

Q.4 Alan is appointed as liquidatorfor companyExtraLed Ltd. He hasworkedwith the

companvin past as an aLrdi(or henceis familiarwith severaltransactions
and that the
co,rpanyhas undeflaken in pasL.llowever,Neerawho is a memberof the companyis
judgment
upsetthat his Lreingformerauditorof the companymay affect his independent
AdviceNeeraif Alancanberemoved fiom post
of and
liquidator ifyes,how?