QUESTION 1:- ANY ACT WHICH IS ULTRA VIRES THE COMPANY IS
VOID. HOWEVER, EQUITY ASSISTS THE LENDER WHERE THE COMMON LAW FAILS TO DO SO. COMMENT.
QUESTION 2:- WHAT DO YOU UNDERSTAND BY THE EXPRESSION
THAT, “DEBENTURES SHALL BE ISSUED PARI PASSU”?
QUESTION 3:- DISTINGUISH BETWEEN SHARES AND DEBENTURES.
QUESTION 4:- WHAT ARE THE CONDITIONS TO BE COMPLIED WITH
WHILE ISSUING SECURED DEBENTURES UNDER SECTION 71(3) READ WITH RULE 18(1) OF COMPANIES (SHARE CAPITAL AND DEBENTURES) RULES, 2014?
QUESTION 5:- THE DATE OF REEDEMPTION OF DEBENTURES SHALL
NOT EXCEED 10 YEARS FROM THE DATE OF ISSUE. TILL WHAT EXTENT DO YOU AGREE WITH THE STATEMENT?
QUESTION 6:- MR. VIRAJ OWNS Rs. 5, 00,000 TO ABC COMPANY,
WHICH IS AN ASSOCIATE OF MNO COMPANY. CAN HE BE APPOINTED AS A DEBENTURE TRUSTEE OF MNO COMPANY?
QUESTION 7:- IN GENERAL, A DEBENTURE TRUSTEE IS LIABLE TO
DEBENTURE HOLDER FOR ANY TYPE OF BREACH OF TRUST. HOWEVER, HE MAY ESCAPE THE LIABILITY UNDER SOME CASES. COMMENT. QUESTION 8:- PLEASE CHECK WHICH OF THE FOLLOWING SOURCE OF FUNDS ARE COMING UNDER THE DEFINITION OF DEPOSITS IN CASE OF A COMPANY. a) RS.5 CRORE FROM GOVERNMENT AGENCY, FINANCIAL INSTITUTIONS, BANKS OR BY WAY OF COMMERCIAL PAPER. b) RS.50 LAKHS BY WAY OF SHARE APPLICATION MONEY c) RS.50 LAKHS FROM ONE OF ITS DIRECTOR BY WAY OF LOAN. d) RS.50 LAKHS FROM ISSUE OF BONDS AND DEBENTURES. e) RS.50 LAKHS BY MEANS OF INTER CORPORATE DEPOSIT f) RS.25 LAKHS FROM ITS EMPLOYEES. g) RS.50 LAKHS AS BUSINESS ADVANCE FROM CUSTOMERS. h) RS.50 LAKHS AS ADVANCE AGAINST CONSIDERATION FOR AN IMMOVABLE PROPERTY. i) RS.25 LAKHS AS SECURITY DEPOSIT FOR PERFORMANCE OF PROVISION OF SERVICES. j) RS.50 LAKHS FROM ITS PROMOTER. k) RS.25 LAKHS RAISED BY ISSUE OF NON CONVERTIBLE DEBENTURES. THESE ARE NOT CONSTITUTING CHARGE ON ASSETS OF THE COMPANY.
QUESTION 9:- A PRIVATE COMPANY AND THE BANKING COMPANY
CAN FREELY ACCEPT DEPOSITS, COMMENT.
QUESTION 10:- STATE THE MAXIMUM LIMITS IN RESPECT OF
ACCEPTANCE OF DEPOSITS FROM: A. MEMEBRS BY START UP COMPANY B. OTHER THAN START UP COMPANY C. OTHER PRIVATE COMPANY D. IFSC PUBLIC COMPANY E. ELIGIBLE PUBLIC COMPANY F. PUBLIC BY ELIGIBLE PUBLIC COMPANY QUESTION 11:- A GOVERNMENT COMPANY’S BALANCE SHEET SHOWS THE FOLLOWING FIGURES: SHARE CAPITAL-100 LAKHS GENERAL RESERVE- 40 LAKHS SECURITIES PREMIUM- 20 LAKHS CAPITAL RESERVE- 10 LAKHS WHAT IS THE MAXIMUM LIMIT IN RESPECT OF ACCEPTANCE OF DEPOSITS?
QUESTION 12:- A COMPANY MAY ACCEPT OR RENEW DEPOSITS FOR
THE PURPOSE OF MEETING ANY OF ITS SHORT TERM REQUIREMENTS FOR A PERIOD LESS THAN 6 MONTHS. Comment.