What is a Draft Red Herring Prospectus (DRHP)?

A document detailing the final price and size of a public offering.

A document providing information about a company's operations and financials, excluding the offering price.

A document used for internal management of a company's financial records.

A document that outlines a company's marketing strategies for its products.

Who prepares the Draft Red Herring Prospectus (DRHP)?

The stock exchange authorities.

The shareholders of the company.

A merchant banker engaged by the company.

Why is it important for companies to file a DRHP?

To finalize the offering price of the IPO.

To provide detailed information about the company's financials.

To fulfill a regulatory requirement and get approval for the IPO.

To attract more investors to the IPO.

Where can investors find a company's DRHP?

Only on the company's official website.

On the stock exchange websites, but not on SEBI's website.

Exclusively in newspapers in multiple languages.

On various platforms such as the company website, merchant banker website, and more.

What is the purpose of the "doctrine of indoor management"?

To protect the company against outsiders' actions.

To protect outsiders against the company's actions.

To protect directors from liability.

To protect shareholders from fraud within the company.

What does the doctrine of "constructive notice" protect against?

It protects outsiders against the company's actions.

It protects the company against the outsiders' actions.

It protects directors from being held liable for their decisions.

It protects shareholders from fraud within the company.

In which situation can the "doctrine of indoor management" not be invoked?

When a person dealing with the company has no knowledge of the company's memorandum and articles.

When the person dealing with the company has not consulted the company's internal regulations.

When the company has made its internal regulations clear to outsiders.

When the company is dealing with a minor.

What is the significance of the "doctrine of ultra vires" in company law?

It limits the powers of the Board of Directors.

It restricts the actions of shareholders.

It defines the internal management of a company.

It restricts a company from acting beyond the scope of its memorandum.

What is the implication of an ultra vires contract?

It is valid and enforceable between the parties.

It is void and cannot be ratified.

It can be ratified by shareholders.

It is only void if it violates the articles of association.

What type of transaction may be saved by the principle of reasonable construction of the memorandum?

A transaction that is ultra vires the company's objects.

A transaction that is expressly prohibited by the articles of association.

A transaction involving a minor.

A transaction involving a director of the company.

Documents- 1 Free MCQ Practice Test with Solutions

	Company Law 81 docs\|44 tests

	Company Law 81 docs\|44 tests

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