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B Com Exam  >  B Com Tests  >  Test: Introduction & Power to make Arrangements With Creditors & Members - B Com MCQ

Test: Introduction & Power to make Arrangements With Creditors & Members - B Com MCQ


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10 Questions MCQ Test - Test: Introduction & Power to make Arrangements With Creditors & Members

Test: Introduction & Power to make Arrangements With Creditors & Members for B Com 2024 is part of B Com preparation. The Test: Introduction & Power to make Arrangements With Creditors & Members questions and answers have been prepared according to the B Com exam syllabus.The Test: Introduction & Power to make Arrangements With Creditors & Members MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction & Power to make Arrangements With Creditors & Members below.
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Test: Introduction & Power to make Arrangements With Creditors & Members - Question 1
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Which of the following is NOT considered a mode of corporate restructuring?

Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 1
Corporate restructuring methods include mergers, demergers, amalgamations, and compromises. Dissolution is not a mode of corporate restructuring but refers to the termination of a company's legal existence.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 2
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What is the primary requirement for a compromise to exist?

Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 2
A compromise involves the settlement of a dispute by mutual concessions. It requires parties to agree and adjust their claims through concessions.
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Test: Introduction & Power to make Arrangements With Creditors & Members - Question 3
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Under what circumstance can a compromise not occur?

Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 3
If shareholders have to completely give up their rights, it does not constitute a compromise. A compromise implies mutual concessions and settlements.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 4
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In an amalgamation, what happens to the shareholders of the amalgamating companies?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 4
In an amalgamation, shareholders of amalgamating companies become shareholders of the amalgamated (new) company.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 5
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What is the significance of an 'arrangement' in corporate restructuring?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 5
An arrangement involves the reorganization of a company's share capital, including consolidating shares, dividing shares into different classes, and modifying preferential rights.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 6
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What is the purpose of filing a resolution in Form No. MGT-14 according to Section 230?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 6
Filing a resolution in Form No. MGT-14 is required under Section 230 to call and conduct a meeting of creditors or members for sanctioning a compromise or arrangement.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 7
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Who must file an application to the Tribunal to disclose material facts about the company?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 7
An application to the Tribunal disclosing material facts about the company must be filed by the company, its creditors, or its members, as specified under Section 230.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 8
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Which regulatory authorities should be sent notice when a compromise or arrangement is proposed?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 8
Notice should be sent to the Central Government, income-tax authorities, the Reserve Bank of India, the Securities and Exchange Board, the Registrar, stock exchanges, and other relevant authorities as mentioned in Section 230.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 9
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What is the minimum threshold for creditors' outstanding debt to raise an objection to a compromise or arrangement?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 9
Creditors holding outstanding debt amounting to not less than five percent of the total outstanding debt can raise objections to a compromise or arrangement.
Test: Introduction & Power to make Arrangements With Creditors & Members - Question 10
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What is the significance of Section 231(1) in relation to a compromise or arrangement?
Detailed Solution for Test: Introduction & Power to make Arrangements With Creditors & Members - Question 10
Section 231(1) empowers the Tribunal to supervise the implementation of a compromise or arrangement and provide necessary directions to ensure proper execution.
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