Corporate and Other Laws (Group I) Model Test Paper - 8 (Questions) | Model Test Papers for CA Intermediate PDF Download

 Page 1


MODEL TEST PAPER 8 
INTERMEDIATE COURSE: GROUP – I 
PAPER – 2: CORPORATE AND OTHER LAWS 
Time Allowed – 3 Hours Maximum Marks – 100 
1. The question paper comprises two parts, Part I and Part II. 
2. Part I comprises Case Scenario based Multiple Choice Questions (MCQs) 
3. Part II comprises questions which require descriptive type answers. 
 
PART I – Case Scenario based MCQs (30 Marks) 
Part I is compulsory 
Case Scenario 1 
ABC Publications Limited accepted deposits from the public to the tune of ` 70 
Lakh on 1
st
 May 2021, for a period of 36 months at an interest rate of 10% per 
annum. The repayment would be made on 30
th
 April, 2024. It has complied with 
all the statutory requirements for the acceptance of deposits by a Public Limited 
Company. 
One of the depositors Mr. Y was in urgent need of money as his son wanted to 
pursue his higher education abroad. His total deposit with ABC Publications 
Limited was `10 lakh. On 1
st
 June 2022, he sent his request to the company 
asking for premature repayment of his deposit along with interest.  
Another depositor, Mr. U had deposited ` 6 lakh in his name. On 18
th
 September 
2022, he sent an application to the company to change the name on his deposit 
and make it a joint holding in the names of himself, his wife and two children. The 
company is contemplating the requests received from its depositors.  
In addition to the deposits received form the public, the company had also raised 
funds by amount received from a Public Sector Bank, by issue of bonds and 
debentures and amounts against issue of commercial papers which were issued 
according to the guidelines issued by the Reserve Bank of India. 
On the basis of the given facts, and by applying the applicable provisions of the 
Companies Act, 2013 and the Rules therein, choose the correct answer of the 
following Questions: (MCQs 1-3 of 2 marks each) 
1. Advise ABC Publications Limited regarding the amount and the interest that 
can be repaid to Mr. Y: 
(a) The company cannot make premature repayment of the deposits. 
(b) The company can prematurely repay the deposit along with interest  
@ 10% for a period of 13 months (1
st
 May 2021 to 31
th
May 2022) 
(c) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 13 months (1
st
 May 2021 to 31
st
 May 2022) 
(d) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 11 months (1
st
 May 2021 to 31
st
 March 2022) 
167
Page 2


MODEL TEST PAPER 8 
INTERMEDIATE COURSE: GROUP – I 
PAPER – 2: CORPORATE AND OTHER LAWS 
Time Allowed – 3 Hours Maximum Marks – 100 
1. The question paper comprises two parts, Part I and Part II. 
2. Part I comprises Case Scenario based Multiple Choice Questions (MCQs) 
3. Part II comprises questions which require descriptive type answers. 
 
PART I – Case Scenario based MCQs (30 Marks) 
Part I is compulsory 
Case Scenario 1 
ABC Publications Limited accepted deposits from the public to the tune of ` 70 
Lakh on 1
st
 May 2021, for a period of 36 months at an interest rate of 10% per 
annum. The repayment would be made on 30
th
 April, 2024. It has complied with 
all the statutory requirements for the acceptance of deposits by a Public Limited 
Company. 
One of the depositors Mr. Y was in urgent need of money as his son wanted to 
pursue his higher education abroad. His total deposit with ABC Publications 
Limited was `10 lakh. On 1
st
 June 2022, he sent his request to the company 
asking for premature repayment of his deposit along with interest.  
Another depositor, Mr. U had deposited ` 6 lakh in his name. On 18
th
 September 
2022, he sent an application to the company to change the name on his deposit 
and make it a joint holding in the names of himself, his wife and two children. The 
company is contemplating the requests received from its depositors.  
In addition to the deposits received form the public, the company had also raised 
funds by amount received from a Public Sector Bank, by issue of bonds and 
debentures and amounts against issue of commercial papers which were issued 
according to the guidelines issued by the Reserve Bank of India. 
On the basis of the given facts, and by applying the applicable provisions of the 
Companies Act, 2013 and the Rules therein, choose the correct answer of the 
following Questions: (MCQs 1-3 of 2 marks each) 
1. Advise ABC Publications Limited regarding the amount and the interest that 
can be repaid to Mr. Y: 
(a) The company cannot make premature repayment of the deposits. 
(b) The company can prematurely repay the deposit along with interest  
@ 10% for a period of 13 months (1
st
 May 2021 to 31
th
May 2022) 
(c) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 13 months (1
st
 May 2021 to 31
st
 May 2022) 
(d) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 11 months (1
st
 May 2021 to 31
st
 March 2022) 
167
2. Advise ABC Publications Limited regarding the request of Mr. U: 
(a)  Mr. U cannot change his deposit to joint holding. 
(b)  The deposits can be held jointly only by Mr. U and his wife. 
(c)  The deposits can be held jointly by Mr. U, his wife and two children. 
(d)  The deposits can be held jointly by Mr. U and any two members only. 
3. The Banker of ABC Publications Limited wanted a list of deposits accepted 
by the company. Advise the company on what among the following 
constitute deposit: 
(a)  Amount raised through bonds and debentures 
(b)  Any non-interest bearing amount received and held in trust 
(c)  Amount received from Public 
(d)  Amount raised through the issue of commercial paper as per the 
Reserve Bank of India guidelines and amount raised through bonds 
and debentures 
Case Scenario 2 
Combat Gaming Limited is a company incorporated outside India with a place of 
business in Rajasthan. To improve its gaming software, the company wanted to 
apply Artificial Intelligence technology. In order to raise more funds to meet out 
the investment cost, the company decided to issue shares. It issued prospectus of 
the company which was properly dated and signed according to the provisions of 
the Companies Act, 2013 and delivered them to the Registrar of Companies on  
16
th
 August 2023. The Registrar on verification of the documents found that the 
particulars in the prospectus was incomplete and issued a notice to the company 
saying that the prospectus is invalid. Hence, the directors scrutinized the 
documents and during the scrutiny it was observed by the CFO that there was a 
mistake in one of the documents delivered to the Registrar and hence altered that 
on 29th September 2023. Analyse, based on the above scenario and answer the 
following Questions: (MCQs 4-6 of 2 marks each)  
4. According to the Companies (Registration of Foreign Companies) Rules, 
2014, of the Companies Act, 2013, which of the following documents shall 
not be annexed to the prospectus? 
(a)  Any consent to the issue of the prospectus required from any person as 
an expert; 
(b)  Statement of preliminary expenses; 
(c)  A copy of contracts for appointment of Managing Director or Manager 
and in case of a contract not reduced into writing, a memorandum 
giving full particulars thereof 
(d)  A copy of underwriting agreement 
5.  Combat Gaming Limited has made alteration in documents delivered to the 
Registrar, they shall intimate to Registrar of Companies by ______ 
(a)  29th October 
168
Page 3


MODEL TEST PAPER 8 
INTERMEDIATE COURSE: GROUP – I 
PAPER – 2: CORPORATE AND OTHER LAWS 
Time Allowed – 3 Hours Maximum Marks – 100 
1. The question paper comprises two parts, Part I and Part II. 
2. Part I comprises Case Scenario based Multiple Choice Questions (MCQs) 
3. Part II comprises questions which require descriptive type answers. 
 
PART I – Case Scenario based MCQs (30 Marks) 
Part I is compulsory 
Case Scenario 1 
ABC Publications Limited accepted deposits from the public to the tune of ` 70 
Lakh on 1
st
 May 2021, for a period of 36 months at an interest rate of 10% per 
annum. The repayment would be made on 30
th
 April, 2024. It has complied with 
all the statutory requirements for the acceptance of deposits by a Public Limited 
Company. 
One of the depositors Mr. Y was in urgent need of money as his son wanted to 
pursue his higher education abroad. His total deposit with ABC Publications 
Limited was `10 lakh. On 1
st
 June 2022, he sent his request to the company 
asking for premature repayment of his deposit along with interest.  
Another depositor, Mr. U had deposited ` 6 lakh in his name. On 18
th
 September 
2022, he sent an application to the company to change the name on his deposit 
and make it a joint holding in the names of himself, his wife and two children. The 
company is contemplating the requests received from its depositors.  
In addition to the deposits received form the public, the company had also raised 
funds by amount received from a Public Sector Bank, by issue of bonds and 
debentures and amounts against issue of commercial papers which were issued 
according to the guidelines issued by the Reserve Bank of India. 
On the basis of the given facts, and by applying the applicable provisions of the 
Companies Act, 2013 and the Rules therein, choose the correct answer of the 
following Questions: (MCQs 1-3 of 2 marks each) 
1. Advise ABC Publications Limited regarding the amount and the interest that 
can be repaid to Mr. Y: 
(a) The company cannot make premature repayment of the deposits. 
(b) The company can prematurely repay the deposit along with interest  
@ 10% for a period of 13 months (1
st
 May 2021 to 31
th
May 2022) 
(c) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 13 months (1
st
 May 2021 to 31
st
 May 2022) 
(d) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 11 months (1
st
 May 2021 to 31
st
 March 2022) 
167
2. Advise ABC Publications Limited regarding the request of Mr. U: 
(a)  Mr. U cannot change his deposit to joint holding. 
(b)  The deposits can be held jointly only by Mr. U and his wife. 
(c)  The deposits can be held jointly by Mr. U, his wife and two children. 
(d)  The deposits can be held jointly by Mr. U and any two members only. 
3. The Banker of ABC Publications Limited wanted a list of deposits accepted 
by the company. Advise the company on what among the following 
constitute deposit: 
(a)  Amount raised through bonds and debentures 
(b)  Any non-interest bearing amount received and held in trust 
(c)  Amount received from Public 
(d)  Amount raised through the issue of commercial paper as per the 
Reserve Bank of India guidelines and amount raised through bonds 
and debentures 
Case Scenario 2 
Combat Gaming Limited is a company incorporated outside India with a place of 
business in Rajasthan. To improve its gaming software, the company wanted to 
apply Artificial Intelligence technology. In order to raise more funds to meet out 
the investment cost, the company decided to issue shares. It issued prospectus of 
the company which was properly dated and signed according to the provisions of 
the Companies Act, 2013 and delivered them to the Registrar of Companies on  
16
th
 August 2023. The Registrar on verification of the documents found that the 
particulars in the prospectus was incomplete and issued a notice to the company 
saying that the prospectus is invalid. Hence, the directors scrutinized the 
documents and during the scrutiny it was observed by the CFO that there was a 
mistake in one of the documents delivered to the Registrar and hence altered that 
on 29th September 2023. Analyse, based on the above scenario and answer the 
following Questions: (MCQs 4-6 of 2 marks each)  
4. According to the Companies (Registration of Foreign Companies) Rules, 
2014, of the Companies Act, 2013, which of the following documents shall 
not be annexed to the prospectus? 
(a)  Any consent to the issue of the prospectus required from any person as 
an expert; 
(b)  Statement of preliminary expenses; 
(c)  A copy of contracts for appointment of Managing Director or Manager 
and in case of a contract not reduced into writing, a memorandum 
giving full particulars thereof 
(d)  A copy of underwriting agreement 
5.  Combat Gaming Limited has made alteration in documents delivered to the 
Registrar, they shall intimate to Registrar of Companies by ______ 
(a)  29th October 
168
(b)  13th November 
(c)  28th November 
(d) 9th October 
6.  Combat Gaming Limited has to deliver the required documents along with 
the appropriate fees to: 
(a)  The Registrar of Companies, Rajasthan 
(b)  The Comptroller and Auditor General Office, New Delhi 
(c)  The Registrar of Companies. New Delhi 
(d)  The Company Law Board, New Delhi 
Case Scenario 3 
Mr. S is a well experienced technocrat in the field of manufacturing of computer 
hard discs and motherboard. He resigned from his job and wished to form a 
Limited Liability Partnership (LLP) with the object of manufacturing and trading of 
computer hardware. He wanted to include his close friends Mr. A, Mr. B, and Mr. 
C who are very familiar in the same field and worked in the foreign companies 
also. 
All three friends had accepted the invitation of Mr. S to be partners of the LLP. Mr. 
S wanted to ensure whether all the three friends are resident of India and 
requested them to provide the details of their stay in India. During the previous 
financial year, Mr. A has stayed in India for a period of 170 days, Mr. B stayed in 
India for 110 days and Mr. C stayed in India for 100 days. All the partners had 
given their consent to act as designated partners. He applied for the reservation 
of desired name to the Registrar and also paid the prescribed fees. 
Based on the above facts, answer the following Questions: (MCQs 7-9 of 2 marks 
each)  
7. The name applied for has been approved by the Registrar. The approved 
name of LLP shall be valid for a period of _____________ from the date of 
intimation by the Registrar.  
(a)  2 months 
(b)  1 month 
(c)  3 months 
(d)  6 months 
8. Which of the following combinations of partners, if appointed as designated 
partners, will not be in accordance with the provisions laid down by Limited 
Liability Partnership Act, 2008? 
(a)  Mr. A, Mr. B and Mr. C 
(b)  Mr. B and Mr. C 
(c)  Mr. A and Mr. C 
(d)  Mr. A and Mr. B 
169
Page 4


MODEL TEST PAPER 8 
INTERMEDIATE COURSE: GROUP – I 
PAPER – 2: CORPORATE AND OTHER LAWS 
Time Allowed – 3 Hours Maximum Marks – 100 
1. The question paper comprises two parts, Part I and Part II. 
2. Part I comprises Case Scenario based Multiple Choice Questions (MCQs) 
3. Part II comprises questions which require descriptive type answers. 
 
PART I – Case Scenario based MCQs (30 Marks) 
Part I is compulsory 
Case Scenario 1 
ABC Publications Limited accepted deposits from the public to the tune of ` 70 
Lakh on 1
st
 May 2021, for a period of 36 months at an interest rate of 10% per 
annum. The repayment would be made on 30
th
 April, 2024. It has complied with 
all the statutory requirements for the acceptance of deposits by a Public Limited 
Company. 
One of the depositors Mr. Y was in urgent need of money as his son wanted to 
pursue his higher education abroad. His total deposit with ABC Publications 
Limited was `10 lakh. On 1
st
 June 2022, he sent his request to the company 
asking for premature repayment of his deposit along with interest.  
Another depositor, Mr. U had deposited ` 6 lakh in his name. On 18
th
 September 
2022, he sent an application to the company to change the name on his deposit 
and make it a joint holding in the names of himself, his wife and two children. The 
company is contemplating the requests received from its depositors.  
In addition to the deposits received form the public, the company had also raised 
funds by amount received from a Public Sector Bank, by issue of bonds and 
debentures and amounts against issue of commercial papers which were issued 
according to the guidelines issued by the Reserve Bank of India. 
On the basis of the given facts, and by applying the applicable provisions of the 
Companies Act, 2013 and the Rules therein, choose the correct answer of the 
following Questions: (MCQs 1-3 of 2 marks each) 
1. Advise ABC Publications Limited regarding the amount and the interest that 
can be repaid to Mr. Y: 
(a) The company cannot make premature repayment of the deposits. 
(b) The company can prematurely repay the deposit along with interest  
@ 10% for a period of 13 months (1
st
 May 2021 to 31
th
May 2022) 
(c) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 13 months (1
st
 May 2021 to 31
st
 May 2022) 
(d) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 11 months (1
st
 May 2021 to 31
st
 March 2022) 
167
2. Advise ABC Publications Limited regarding the request of Mr. U: 
(a)  Mr. U cannot change his deposit to joint holding. 
(b)  The deposits can be held jointly only by Mr. U and his wife. 
(c)  The deposits can be held jointly by Mr. U, his wife and two children. 
(d)  The deposits can be held jointly by Mr. U and any two members only. 
3. The Banker of ABC Publications Limited wanted a list of deposits accepted 
by the company. Advise the company on what among the following 
constitute deposit: 
(a)  Amount raised through bonds and debentures 
(b)  Any non-interest bearing amount received and held in trust 
(c)  Amount received from Public 
(d)  Amount raised through the issue of commercial paper as per the 
Reserve Bank of India guidelines and amount raised through bonds 
and debentures 
Case Scenario 2 
Combat Gaming Limited is a company incorporated outside India with a place of 
business in Rajasthan. To improve its gaming software, the company wanted to 
apply Artificial Intelligence technology. In order to raise more funds to meet out 
the investment cost, the company decided to issue shares. It issued prospectus of 
the company which was properly dated and signed according to the provisions of 
the Companies Act, 2013 and delivered them to the Registrar of Companies on  
16
th
 August 2023. The Registrar on verification of the documents found that the 
particulars in the prospectus was incomplete and issued a notice to the company 
saying that the prospectus is invalid. Hence, the directors scrutinized the 
documents and during the scrutiny it was observed by the CFO that there was a 
mistake in one of the documents delivered to the Registrar and hence altered that 
on 29th September 2023. Analyse, based on the above scenario and answer the 
following Questions: (MCQs 4-6 of 2 marks each)  
4. According to the Companies (Registration of Foreign Companies) Rules, 
2014, of the Companies Act, 2013, which of the following documents shall 
not be annexed to the prospectus? 
(a)  Any consent to the issue of the prospectus required from any person as 
an expert; 
(b)  Statement of preliminary expenses; 
(c)  A copy of contracts for appointment of Managing Director or Manager 
and in case of a contract not reduced into writing, a memorandum 
giving full particulars thereof 
(d)  A copy of underwriting agreement 
5.  Combat Gaming Limited has made alteration in documents delivered to the 
Registrar, they shall intimate to Registrar of Companies by ______ 
(a)  29th October 
168
(b)  13th November 
(c)  28th November 
(d) 9th October 
6.  Combat Gaming Limited has to deliver the required documents along with 
the appropriate fees to: 
(a)  The Registrar of Companies, Rajasthan 
(b)  The Comptroller and Auditor General Office, New Delhi 
(c)  The Registrar of Companies. New Delhi 
(d)  The Company Law Board, New Delhi 
Case Scenario 3 
Mr. S is a well experienced technocrat in the field of manufacturing of computer 
hard discs and motherboard. He resigned from his job and wished to form a 
Limited Liability Partnership (LLP) with the object of manufacturing and trading of 
computer hardware. He wanted to include his close friends Mr. A, Mr. B, and Mr. 
C who are very familiar in the same field and worked in the foreign companies 
also. 
All three friends had accepted the invitation of Mr. S to be partners of the LLP. Mr. 
S wanted to ensure whether all the three friends are resident of India and 
requested them to provide the details of their stay in India. During the previous 
financial year, Mr. A has stayed in India for a period of 170 days, Mr. B stayed in 
India for 110 days and Mr. C stayed in India for 100 days. All the partners had 
given their consent to act as designated partners. He applied for the reservation 
of desired name to the Registrar and also paid the prescribed fees. 
Based on the above facts, answer the following Questions: (MCQs 7-9 of 2 marks 
each)  
7. The name applied for has been approved by the Registrar. The approved 
name of LLP shall be valid for a period of _____________ from the date of 
intimation by the Registrar.  
(a)  2 months 
(b)  1 month 
(c)  3 months 
(d)  6 months 
8. Which of the following combinations of partners, if appointed as designated 
partners, will not be in accordance with the provisions laid down by Limited 
Liability Partnership Act, 2008? 
(a)  Mr. A, Mr. B and Mr. C 
(b)  Mr. B and Mr. C 
(c)  Mr. A and Mr. C 
(d)  Mr. A and Mr. B 
169
9. In how many days, a Limited Liability Partnership shall file with the 
Registrar, the particulars of every individual who has given his consent to 
act as designated partner? 
(a)  Within thirty days of incorporation of LLP 
(b)  Within thirty days of his appointment 
(c)  After forty five days of incorporation of LLP 
(d)  After sixty days of his appointment 
Case Scenario 4 
Progressive Management College have introduced a Global Management 
Diploma Course which is of 12 months duration. Out of 12 months, 11 months 
studies are held in India and rest of 1 month is earmarked for foreign tour. Rudra 
Pratap is the Principal of the college. After taking requisite permission from the 
competent Ministry, the cultural tour programme was chalked out and the team 
visited Malaysia, Singapore, Australia and New Zealand. 
Rudra Pratap's daughter Payal got admission in a medical college situated in 
California, United States of America. For fee and other expenses, Payal needs  
USD 2,25,000. Rudra Pratap contacted his banker to know the procedure for 
availing of foreign exchange and the authority to whom he shall apply. His banker 
properly guided all the relevant procedures for availing of the foreign exchange. 
Rudra Pratap's brother Sourya Pratap went to UK some years ago, where he 
joined a company in managerial position. He intermittently visits to India and 
maintains a Non-Resident Special Rupee Scheme Account (NRSR) in Mumbai. 
He wanted to make remittance of interest earned in the NRSR Account and asked 
his bankers for the required formalities. 
Based on the above facts, answer the following Questions: (MCQs 10-12 of 2 marks 
each). 
10. For the purpose of cultural tours, approval of which Ministry is required to be 
obtained ? 
(a)  Ministry of Human Resources Development 
(b)  Ministry of External Affairs 
(c)  Ministry of Home Affairs 
(d)  Ministry of Commerce and Industry 
11. For availing foreign exchange for studying abroad, which of the following 
option is correct: 
(a)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad is prohibited. 
(b)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad requires prior approval of Government of India.  
(c)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad requires prior approval of RBI. 
(d)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad do not require prior approval of RBI. 
170
Page 5


MODEL TEST PAPER 8 
INTERMEDIATE COURSE: GROUP – I 
PAPER – 2: CORPORATE AND OTHER LAWS 
Time Allowed – 3 Hours Maximum Marks – 100 
1. The question paper comprises two parts, Part I and Part II. 
2. Part I comprises Case Scenario based Multiple Choice Questions (MCQs) 
3. Part II comprises questions which require descriptive type answers. 
 
PART I – Case Scenario based MCQs (30 Marks) 
Part I is compulsory 
Case Scenario 1 
ABC Publications Limited accepted deposits from the public to the tune of ` 70 
Lakh on 1
st
 May 2021, for a period of 36 months at an interest rate of 10% per 
annum. The repayment would be made on 30
th
 April, 2024. It has complied with 
all the statutory requirements for the acceptance of deposits by a Public Limited 
Company. 
One of the depositors Mr. Y was in urgent need of money as his son wanted to 
pursue his higher education abroad. His total deposit with ABC Publications 
Limited was `10 lakh. On 1
st
 June 2022, he sent his request to the company 
asking for premature repayment of his deposit along with interest.  
Another depositor, Mr. U had deposited ` 6 lakh in his name. On 18
th
 September 
2022, he sent an application to the company to change the name on his deposit 
and make it a joint holding in the names of himself, his wife and two children. The 
company is contemplating the requests received from its depositors.  
In addition to the deposits received form the public, the company had also raised 
funds by amount received from a Public Sector Bank, by issue of bonds and 
debentures and amounts against issue of commercial papers which were issued 
according to the guidelines issued by the Reserve Bank of India. 
On the basis of the given facts, and by applying the applicable provisions of the 
Companies Act, 2013 and the Rules therein, choose the correct answer of the 
following Questions: (MCQs 1-3 of 2 marks each) 
1. Advise ABC Publications Limited regarding the amount and the interest that 
can be repaid to Mr. Y: 
(a) The company cannot make premature repayment of the deposits. 
(b) The company can prematurely repay the deposit along with interest  
@ 10% for a period of 13 months (1
st
 May 2021 to 31
th
May 2022) 
(c) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 13 months (1
st
 May 2021 to 31
st
 May 2022) 
(d) The company can prematurely repay the deposit along with interest  
@ 9% for a period of 11 months (1
st
 May 2021 to 31
st
 March 2022) 
167
2. Advise ABC Publications Limited regarding the request of Mr. U: 
(a)  Mr. U cannot change his deposit to joint holding. 
(b)  The deposits can be held jointly only by Mr. U and his wife. 
(c)  The deposits can be held jointly by Mr. U, his wife and two children. 
(d)  The deposits can be held jointly by Mr. U and any two members only. 
3. The Banker of ABC Publications Limited wanted a list of deposits accepted 
by the company. Advise the company on what among the following 
constitute deposit: 
(a)  Amount raised through bonds and debentures 
(b)  Any non-interest bearing amount received and held in trust 
(c)  Amount received from Public 
(d)  Amount raised through the issue of commercial paper as per the 
Reserve Bank of India guidelines and amount raised through bonds 
and debentures 
Case Scenario 2 
Combat Gaming Limited is a company incorporated outside India with a place of 
business in Rajasthan. To improve its gaming software, the company wanted to 
apply Artificial Intelligence technology. In order to raise more funds to meet out 
the investment cost, the company decided to issue shares. It issued prospectus of 
the company which was properly dated and signed according to the provisions of 
the Companies Act, 2013 and delivered them to the Registrar of Companies on  
16
th
 August 2023. The Registrar on verification of the documents found that the 
particulars in the prospectus was incomplete and issued a notice to the company 
saying that the prospectus is invalid. Hence, the directors scrutinized the 
documents and during the scrutiny it was observed by the CFO that there was a 
mistake in one of the documents delivered to the Registrar and hence altered that 
on 29th September 2023. Analyse, based on the above scenario and answer the 
following Questions: (MCQs 4-6 of 2 marks each)  
4. According to the Companies (Registration of Foreign Companies) Rules, 
2014, of the Companies Act, 2013, which of the following documents shall 
not be annexed to the prospectus? 
(a)  Any consent to the issue of the prospectus required from any person as 
an expert; 
(b)  Statement of preliminary expenses; 
(c)  A copy of contracts for appointment of Managing Director or Manager 
and in case of a contract not reduced into writing, a memorandum 
giving full particulars thereof 
(d)  A copy of underwriting agreement 
5.  Combat Gaming Limited has made alteration in documents delivered to the 
Registrar, they shall intimate to Registrar of Companies by ______ 
(a)  29th October 
168
(b)  13th November 
(c)  28th November 
(d) 9th October 
6.  Combat Gaming Limited has to deliver the required documents along with 
the appropriate fees to: 
(a)  The Registrar of Companies, Rajasthan 
(b)  The Comptroller and Auditor General Office, New Delhi 
(c)  The Registrar of Companies. New Delhi 
(d)  The Company Law Board, New Delhi 
Case Scenario 3 
Mr. S is a well experienced technocrat in the field of manufacturing of computer 
hard discs and motherboard. He resigned from his job and wished to form a 
Limited Liability Partnership (LLP) with the object of manufacturing and trading of 
computer hardware. He wanted to include his close friends Mr. A, Mr. B, and Mr. 
C who are very familiar in the same field and worked in the foreign companies 
also. 
All three friends had accepted the invitation of Mr. S to be partners of the LLP. Mr. 
S wanted to ensure whether all the three friends are resident of India and 
requested them to provide the details of their stay in India. During the previous 
financial year, Mr. A has stayed in India for a period of 170 days, Mr. B stayed in 
India for 110 days and Mr. C stayed in India for 100 days. All the partners had 
given their consent to act as designated partners. He applied for the reservation 
of desired name to the Registrar and also paid the prescribed fees. 
Based on the above facts, answer the following Questions: (MCQs 7-9 of 2 marks 
each)  
7. The name applied for has been approved by the Registrar. The approved 
name of LLP shall be valid for a period of _____________ from the date of 
intimation by the Registrar.  
(a)  2 months 
(b)  1 month 
(c)  3 months 
(d)  6 months 
8. Which of the following combinations of partners, if appointed as designated 
partners, will not be in accordance with the provisions laid down by Limited 
Liability Partnership Act, 2008? 
(a)  Mr. A, Mr. B and Mr. C 
(b)  Mr. B and Mr. C 
(c)  Mr. A and Mr. C 
(d)  Mr. A and Mr. B 
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9. In how many days, a Limited Liability Partnership shall file with the 
Registrar, the particulars of every individual who has given his consent to 
act as designated partner? 
(a)  Within thirty days of incorporation of LLP 
(b)  Within thirty days of his appointment 
(c)  After forty five days of incorporation of LLP 
(d)  After sixty days of his appointment 
Case Scenario 4 
Progressive Management College have introduced a Global Management 
Diploma Course which is of 12 months duration. Out of 12 months, 11 months 
studies are held in India and rest of 1 month is earmarked for foreign tour. Rudra 
Pratap is the Principal of the college. After taking requisite permission from the 
competent Ministry, the cultural tour programme was chalked out and the team 
visited Malaysia, Singapore, Australia and New Zealand. 
Rudra Pratap's daughter Payal got admission in a medical college situated in 
California, United States of America. For fee and other expenses, Payal needs  
USD 2,25,000. Rudra Pratap contacted his banker to know the procedure for 
availing of foreign exchange and the authority to whom he shall apply. His banker 
properly guided all the relevant procedures for availing of the foreign exchange. 
Rudra Pratap's brother Sourya Pratap went to UK some years ago, where he 
joined a company in managerial position. He intermittently visits to India and 
maintains a Non-Resident Special Rupee Scheme Account (NRSR) in Mumbai. 
He wanted to make remittance of interest earned in the NRSR Account and asked 
his bankers for the required formalities. 
Based on the above facts, answer the following Questions: (MCQs 10-12 of 2 marks 
each). 
10. For the purpose of cultural tours, approval of which Ministry is required to be 
obtained ? 
(a)  Ministry of Human Resources Development 
(b)  Ministry of External Affairs 
(c)  Ministry of Home Affairs 
(d)  Ministry of Commerce and Industry 
11. For availing foreign exchange for studying abroad, which of the following 
option is correct: 
(a)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad is prohibited. 
(b)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad requires prior approval of Government of India.  
(c)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad requires prior approval of RBI. 
(d)  The transaction of withdrawal of foreign exchange of USD 2,25,000 for 
studying abroad do not require prior approval of RBI. 
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12. The remittance of foreign exchange for arranging of cultural tour for the 
students is an example of: 
(a)  Capital Account Transactions 
(b)  Current Account Transactions 
(c)  Hybrid Transactions 
(d)  Amortised Transactions 
13. Super Brain Coaching Limited was engaged in offline coaching of students 
for various competitive examinations. It was one of the pioneer in its field. It 
suffered losses due to various social and government restrictions imposed 
on study centers. On account of this, it defaulted in the repayment of term 
loan for the first two quarters of the financial year 2023-24. However, Super 
Brain Coaching Limited adapted itself to the changing circumstances and 
shifted to online mode of coaching and revived its financial conditions. On  
31
st
 December 2023, it cleared all the dues and regularized the term loan. 
Super Brain Coaching Limited wants to issue equity shares with differential 
rights. When can the issue be made? 
(a)  On or after January 1
st
 2029 
(b)  On or after April 1
st
 2029 
(c)  On or after April 1
st
 2027 
(d)  On or after January 1
st
2027 (2 Marks) 
14. An Act has been passed by the government and though sufficient time has 
elapsed since the Act was passed, it has not been brought into force by the 
Government. 
Which of the following is correct in the light of the provisions of the General 
Clauses Act, 1897? 
(a)  The court can issue a mandamus with a view to compel the 
government to bring the Act into operation on a particular day. 
(b)  The court can through a writ direct the Government to consider the 
question as to when the Act should begin to operate.  
(c)  The court can publish a date in Official Gazette as an effective date for 
enforcement of the Act. 
(d)  The court cannot direct the government to consider the question as to 
when Act should begin to operate. (2 Marks) 
15.  With reference to the provisions of the General Clauses Act, 1897, in all 
Legislations and Regulations, unless there is anything repugnant in the 
subject or context, words importing the masculine gender shall be taken: 
(a)  To exclude female 
(b)  To exclude boy child 
(C)  To exclude girl child 
(d)  To include females   (2 Marks) 
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