Roll No: Name:

LEPM-QUIZ-2for PGP26
Max Marks 10 Max Time 10 minutes

Instructions:
1. Answer all the
questions.
2. This is a closed book exam.
3. All questions carry I mark each.
4. Choose the most
appropriate answer from the choice provided

1) As per the Great Indian Bustard case discussed in the class

aBoard of Directors of Companies in India have legal responsibility towards
environment as per stakeholder concept
b) Board of Directors of Companies in India have only ethical responsibility towards
environment
c) Environment concerns cannot be considered as ethical issue as per shareholder
primacy based corporate govenance standard
d) Both b and c are correct

2) CSR responsibility under the 2013 Companies Act requires companies to

a) Voluntarily spend upto 2%% of profit on activities which the company feel relevant
b Mandatorily spend 2% of profit and report to relevant authorities
c) Spend upto 2% of profit based on shareholder permission
d) None of the above

3) Directors can be held personally liable under the Company law

a) If they attempt to take undue idvantage and misuse their office

b) If the director doesn't disclose conflict of interest
c) If the director fails to take the stakeholder interest into account
d) All the above three statements are true.
eBoth a and b are correct

4) In a sole proprietorship, the personal loses are

aNot protected by way of limited liability
 b) Protected by way of limited 1liability under the One Person Company concept
c)Not protected and prone to unlimited liability due to lack of registration under
Companies Act or LLP Act
d) All the above three statements are correct.
e)Both a and c are eorect

5) Every public company need to appoint one small sharcholder director to the board of
directors
a) Mandatory requirement as per the 2013 Companies Act
b) Optional requirement under the 2013 Companies Act
c)There is no small shareholder director concept in India
d) None of the above

6) In a Limited Liability Partnership firm

a) The maximum number of partners could be up to s50

b No restriction on the number of partners
c) Maximum number of partners could be up to 200
d) None of the above

7) Majority shareholders can remove a director from a public listed company

a Yes, as directors are appointed and removed based on shareholder votes
b) No, directors are appointed and removed based on discretion of Chairman of the
Board of Directors
c)No, directors are appointed and removed based on Registrar of Company's
decision

8) Which of the following are characteristics of a private limited company:

a) Restrict transferability of shares
b) Can have only maximum of 200 shareholders
c) Should have minimum of 2 directors as part of Board of Directors
d) All the above three statements are correct
e) Both a) and c) are correct.

Answer whether the statement provided below are true or false

9) Crithia for granting Patents requires, meeting any of the fohowing three conditions:
(i) novelty, (i) non-obviousness and (ii) capability of commercial application.

10) A genetically modified plant is allowed to be patented in India.