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e

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on
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Secien 92 on Number
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eHS Gm na med Each Amendment

Sublc uibes Residert Jn Tnda
Q i dixeca
120
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supes si o m oe sio9 Aac
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At he ime
A he Sub seibers A oh esom who
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By ang pexson
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n she MOA
Fir Decisio
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Combany
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VA

Co mmerdal fau opic e

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To make, sei o Jend en hise, zaii uwag camges

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ene1af contacto sus.
T ParCh ade, Jease, sl & wosk mine.
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coa, i m bev,
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DiuectoR o Contsat Riche moA &ADA.
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CouTS
Seisi on Co ntyac is Void Asticsa of Asb ociaion
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squlasien
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Con dition
oe
nusdero Genyes
ch co is

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upen wi
x ctrice Conakru caive Natice (see 3qq) in covporaed
.Any benon Can Inspec k by electso nie me an

pa
Tnernal Reguiai ons
Any documen Kept by he egibtrar,
OR
he co
make aecord of Ahe sam www. neA.

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oR
Subbidiay o
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Tn Juding ConRrdk Modela
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Ceiicate icororatione 04
on baymenk o prRse bed Aee. Conain Reg ulai ona o, Ac20 13
Poin Jo be Noded )Snelumi on o madtkIS Co. Act, 20 13
Considering above provisto ra is he i En>renchment ahse provisi on
dasy eveybesuson dealing wih Coo To ma ke he
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hi
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preSumed hoe ot o Tncoont
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H n ot oW y pres umed o have ead he Tobse
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&
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 CHAPTER 5: THE COMPANIES ACT, 2013
Q.1 Mr. Anil formed a One Person Company (OPC) on 16th April, 2018 for manufacturing
electric cars. The turnover of the OPC for the financial year ended 31st March, 2019
was about 2.25 Crores. His friend Sunil wanted to invest in his OPC, so they decided
to convert it voluntarily into a private limited company. Can Anil do so? [Nov 19, 4
Marks]
Related Question: Define OPC (One Person Company) and state the rules regarding its
membership. Can it be converted into a non-profit company under Section 8 or a private
company? [RTP Nov 18] [RTP Nov 20] CS LLM Arjun Chhabra
Q.2 "The Memorandum of Association is a charter of a company". Discuss. Also explain

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in brief the contents of Memorandum of Association. [Nov 19, 6 Marks] CS LLM Arjun
Chhabra
Q.3 A, an assessee, had large income in the form of dividend and interest. In order to

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reduce his tax liability. he formed four private limited company and transferred his
investments to them in exchange of their shares. The income earned by the companies
was taken back by him as pretended loan. Can A be regarded as separate from the private
limited company he formed? INov19,3 Marks]

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Related Question: Krishna, an assessee, was a wealthy man earning huge income by way
of dividend and interest. He formed three Private Companies and agreed with each to hold
a bloc of investment as an agent for them. The dividend and interest income received by
the companies was handed back to Krishna as a pretended loan. This way, Krishna divided
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his income into three parts in a bid to reduce his tax liability.
Decide, for what purpose the three companies were established? Whether the legal
personality of all the three companies may be disregarded. [March 18, 4 Marks] [MTP
October 18, 4 Marks] [MTP March 19, 6 Marks] [MTP April 19, 4 Marks] [RTP May 191
Q.4 Sound Syndicate Ltd., a public company, its articles of association empowers the
managing agents to borrow both short and long term loans on behalf of the company, Mr.
Liddle, the director of the company, approached Easy Finance Ltd., a non-banking finance
company for a loan of 25,00,000 in name of the company.
The Lender agreed and provided the above said loan. Later on, Sound Syndicate Ltd.
refused to repay the money borrowed on the pretext that no resolution authorizing such
loan have been actually passed by the company and the lender should have enquired about
the same prior providing such loan hence company not liable to pay such loan.
 Analyse the above situation in terms of the provisions of Doctrine of Indoor Management
under the Companies Act, 2013 and examine whether the contention of Sound Syndicate
Ltd. is correct or not? [May 19, 4 Marks]
Related Question: The Articles of Association of XYZ Ltd. provides that Board of Directors
has authority to issue bonds provided such issue is authorized by the shareholders by a
necessary resolution in the general meeting of the company. The company was in dire need of
funds and therefore, it issued the bonds to Mr. X without passing any such resolution in
general meeting. Can Mr. X recover the money from the company? Decide referring the
relevant provisions of the Companies Act, 2013. [RTP May 18] CS LLM Arjun Chhabra
Q.5 What do you mean by "Companies with charitable purpose" (section 8) under the

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Companies Act, 2013? Mention the conditions of the issue and revocation of the licence
of such company by the government. [May 19, 6 Marks]
Related Question: State whether a non-profit organization be registered as a company
under the Companies Act, 2013? If so, what procedure does it have to adopt? [RTP May

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18] [RTP May 19]
Related Question: What are the significant points of Section 8 Company which are not
applicable for other companies? Briefly explain with reference to provisions of the
Companies Act, 2013. [Dec-20, 6 Marks]

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Q.6 Popular Products Ltd. is company incorporated in India, having a total Share Capital
of 20 Crores. The Share capital comprises of 12 Lakh equity shares of 100 each and
8 Lakhs Preference Shares of 100 each. Delight Products Ltd. and Happy Products Ltd.
hold 2,50, 000 and 3, 50,000 shares respectively in Popular Products Ltd. Another company
Cheerful Products Ltd. holds 2, 50,000 shares in Popular Products Ltd. Jovial Ltd. is the
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holding company for all above three companies namely Delight Products Ltd; Happy Products
Ltd.; Cheerful Products Ltd. Can Jovial Ltd. be termed as subsidiary company of Popular
products. Ltd., if it. Controls composition of directors of Popular Products Ltd. State the
related provision in the favour of your answer. [May 19, 3 Marks]
Q.7 A company registered under section 8 of the Companies Act, 2013, earned huge
profit during the financial year ended on 31st March, 2018 due to some favorable policies
declared by the Government of India and implemented by the company. Considering the
development, some members of the company wanted the company to distribute dividends
to the members of the company. They approached you to advise them about the maximum
amount of dividend that can be declared by the company as per the provisions of the
 Companies Act, 2013. Examine the relevant provisions of the Companies Act, 2013 and
advise the members accordingly. [Nov 18, 4 Marks] [MTP Oct 19, 4 Marks]
Q.8 There are cases where company law disregards the principle of corporate personality or
the principle that the company is a legal entity distinct from its shareholders or members.
Elucidate. [Nov 18, 6 Marks]
Q.9 Mr. X had purchased some goods from M/s ABC Limited on credit. A credit period
of one month was allowed to Mr. X. Before the due date Mr. X went to the company and
wanted to repay the amount due from him. He found only Mr. Z there, who was the
factory supervisor of the company. Mr. Z told Mr. X that the accountant and the cashier
were on leave, he is in-charge of receiving money and he may pay the amount to him.

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Mr. Z issued a money receipt under his signature. After two months M/s ABC Limited
issued a notice to Mr. X for non-payment of the dues within the stipulated period. Mr.
X informed the company that he had already cleared the dues and he is no more responsible
for the same. He also contended that Mr. Z is an employee of the company to whom he

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had made the payment and being an outsider, he trusted the words of Mr. Z as duty
distribution is a job of the internal management of the company.
Analyse the situation and decide whether Mr. X is free from his liability. [Nov 18, 3
Marks]

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Q.10 Ravi Private Limited has borrowed 5 crores from Mudra Finance Ltd. This debt is
ultra vires to the company. Examine, whether the company is liable to pay this debt?
State the remedy if any available to Mudra Finance Ltd.? [May 18, 4 Marks]
Q.11 Define OPC (One Person Company) and state the rules regarding its membership.
Can it be converted into a non-profit company under Section 8 or a private company? [May
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18, 6 Marks] [MTP Oct 19, 6 Marks]
Q.12 State the limitations of the doctrine of indoor management under the Companies
Act, 2013. [May 18, 3 Marks]
Related Question: Explain clearly the doctrine of 'Tndoor Management' as applicable in
cases of companies registered under the Companies Act, 2013. Explain the circumstances
in which an outsider dealing with the company cannot claim any relief on the ground of
'Indoor Management'. [RTP Nov 20] [Jan 21 6 Marks]
Q.13 Explain the concept of "Dormant Company" as envisaged in the Companies Act, 2013.
[RTP May 18]
Q.14 When a company is registered, it is clothed with a legal personality. Explain. [RTP
May 18]
Q.15 ABC Pvt. Ltd., is a Private Company havingfive members only. All the members of
the company were going by car to Mumbai inrelation to some business. An accident took
place and all of them died. Answer with reasons, under the Companies Act, 2013 whether
existence of the company has also come to the end? [RTP Nov 18]
Q.16 Briefly explain the doctrine of "ultravires" under the Companies Act, 2013. What
are the consequences of ultravires acts of the company? [RTP Nov 18] [MTP Oct 18, 6
Marks] [RTP May 20]
Related Question: The Object Clause of Memorandum of Association of ABC Pvt. Ltd.
authorized the company to carry on the business of trading in Fruits and Vegetables. The
Directors of the company in recently concluded Board Meeting decided and accordingly.
the company ordered for fish for the purpose of trading. FSH Limited supplied fish to

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ABC Pvt. Ltd. worth Rs. 36 Lakhs. The members of the company convened an extraordinary
general meeting and negated the proposal of the Board of Directors on the ground of ultra
vires acts. FSH Limited being aggrieved of the said decision of ABC Pvt Ltd. seeks your

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advice. Advise them. [MTP Aug 18, 4 Marks]
Q.17 Examine the following whether they are correct or incorrect along with reasons:
(a) A company being an artificial person cannot own property and cannot sue or be sued.
(b) A private limited company must have a minimum of two members, while a public limited

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company must have at least seven members. [RTP Nov 18]
Q.18 FAREB Limited was incorporated by acquisition of FAREB & Co., a partnership firm,
which was earlier involved in many illegal activities. The promoters furnished some false
information and also suppressed some material facts at the time of incorporation of
the company. Some members of the public (not being directors or promoters of the
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company) approached the National Company Law Tribunal (NCLT) against the incorporation
status of FAREB Limited. NCLT is about to pass the order by directing that the liability
of the members of the company shall be unlimited.
Given the above, advice on whether the above order will be legal and mention the precaution
to be taken by NCLT before passing order in respect of the above as per the provisions
of the Companies Act, 2013. [MTP Aug 18, 3 Marks]
Q.19 Examine with reasons whether the following statement is correct or incorrect:
(i) A private limited company must have a minimum of two members, while a public
limited company must have at least seven members.
Ci) Affixing of Common seal on company's documents is compulsory. [MTP March 18, 3
Marks] [MTP Oct 18, 3 Marks] [MTP April 19, 3 Marks] CS LLM Arjun Chhabra
Q.20 Mr. X had purchased some goods from M/s ABC Limited on credit. A credit period
of one month was allowed to Mr. X. Before the due date Mr. X went to the company and
wanted to repay the amount due from him. He found only Mr. Z there, who was the
factory supervisor of the company. Mr. Z told Mr. X that the accountant and the cashier
were on leave, he is in-charge of receiving money and he may pay the amount to him. Mr.
Z issued a money receipt under his signature. After two months M/s ABC Limited issued
a notice to Mr. X for non-payment of the dues within the stipulated period. Mr. X
informed the company that he had already cleared the dues and he is no more responsible
for the same. He also contended that Mr. Z is an employee of the company whom he had
made the payment and being an outsider, he trusted the words of Mr. Z as duty

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distribution is a job of the internal management of the company.
Analyse the situation and decide whether Mr. X is free from his liability. [MTP March
19, 4 Marks] [MTP Oct 19, 3 Marks] [Nov 18, 3 Marks]
Q.21 Flora Fauna Limited was registered as a public company. There are 230 members in

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the company as noted below:
(a) Directors and their relatives 190
(6) Employees 15

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c)Ex-Employees (Shares were allotted when they were 10
employees
(d) 5 couples holding shares jointly in the name of husband 10
and wife (5*2)
(e) Others 5
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The Board of Directors of the company propose to convert it into a private company. Also
advise whether reduction in the number of members is necessary. [MTP March 19, 3 Marks]
[RTP May 191

Related Question: ABC Limited was registered as a public company. There were 245
members in the company. Their details are as follows:
Directors and their relatives 190
Employees 15

Ex- employees (shares were allotted when they were employees) 20

Others (Including 10 joint holders holding shares jointly in the 20

name of father and son)
 The Board of directors of the company propose to convert it into a private company.
Advice whether reduction in the number of members is necessary for conversion. [Jan 21
-
4 Marks]
Q.22 Explain the meaning of Guarantee Company? State the similarities and dissimilarities
between a 'Guarantee Company' and 'Company Limited by Shares'. [MTP March 18, 6
Marks] [MTP April 19, Marks]
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Q.23 Naveen incorporated a "One Person Company" making his sister Navita as the
nominee. Navita is leaving India permanently due to her marriage abroad. Due to this
fact, she is withdrawing her consent of nomination in the said One Person Company. Taking
into considerations the provisions of the Companies Act, 2013 answer the questions given

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below.
(a) If Navita is leaving India permanently, is it mandatory for her to withdraw her
nomination in the said One Person Company?
(b) If Navita maintained the status of Resident of India after her marriage, then can

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she continue her nomination in the said One Person Company? [RTP May 20] CS LLM Arjun
Chhabra
Q.24 ABC Limited has allotted equity shares with voting rights to XYZ Limited worth Rs.
15 Crores and issued Non-Convertible Debentures worth Rs. 40 Crores during the Financial

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Year 2019-20. After that total Paid-up Equity Share Capital of the company is Rs. 100
Crores and Non-Convertible Debentures Stands at Rs. 120 Crores.
Define the Meaning of Associate Company and comment on whether ABC Limited and Xyz
Limited would be called Associate Company as per provisions of the Companies Act, 2013?
[Dec 20 4 Marks]
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Q.25 Mike Limited company incorporated in India having Liaison office at Singapore.
Explain in detail meaning of Foreign Company and analysis on whether Mike Limited would
be called as Foreign Company as it established a Liaison office at Singapore as per the
provisions of the Companies Act, 2013? [Dec 20 3 Marks]
Q.26 SK Infrastructure Limited has a paid-up share capital divided into 6,00,000 equity
shares of INR 100 each 2,00,000 equity shares of the company are held by Central
Government and 1,20,000 equity shares are held by Government of Maharashtra Explain
with reference to relevant provisions of the Companies Act, 2013, whether SK
Tnfrastructure Limited can be treated as Government Company. [Jan 21- 3 Marks]