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(i) ABC Ltd., has 35% shares in XYZ Ltd. The majority of directors of XYZ Ltd. are appointed and removed by ABC Ltd., XYZ Ltd. is:

Not a subsidiary of ABC Ltd. Depends on the Board of ABC Ltd. Depends on the Board of XYZ Ltd. A subsidiary of ABC Ltd.

(ii) The paid-up capital requirement in a public company in which the number of independent directors shall be at least 2, is:

10 crores or more. 20 crores or more. 30 crores or more. 50 crores or more.

(iii) As per the Companies Act, 2013, in certain companies, a director may be appointed by small shareholders. Small shareholder means, shareholders who hold shares worth of face value of maximum:

5,000 10,000 20,000 50,000

(iv) In case of open offer by a public company to its shareholders, the type of bank account where the amount payable to shareholders are kept is called:

Open Offer Escrow Current Special Current

(v) XYZ Co. Ltd. was incorporated on 1st April, 2023. Its paid-up capital of ₹1 lakh consisting of 1 lakh equity shares of ₹10 each was held by 100 individuals. There are 2 directors on its Board. The quorum for the Annual General Meeting is:

2 members to be present personally 5 members to be present personally 10 members to be present personally 15 members to be present personally

(vi) The Board of Directors of a limited company wants to co-opt an expert in a specialised field. In this context, the correct option is:

Tenure of the expert directors shall not exceed such period as may be specified in the Articles. An additional director can be appointed exceeding one-fifth of the total number of directors. The tenure of the expert directors shall not exceed one year. Expert directors can be appointed exceeding one-fifth of the total number of directors.

(vii) Under the IBC, the corporate insolvency resolution process shall be completed within a period of:

6 months 4 months 180 days 120 days

(viii) Here are three approaches to sustainability management, commonly known as the bottom-line approach. The following is not a part of the three approaches:

Economic approach Ecological/Environmental approach Social approach Ergonomic approach

(ix) Amalgamation of banking companies requires the approval of shareholders:

One-third Two-thirds One-half One-fourth

(x) Where any application for merger is submitted to the CCI, deemed approval may be presumed if:

No approval is received within 180 days. No approval is received within 90 days. There is no concept of deemed approvals for mergers. No approval is received within 120 days.

(xi) In case of listed companies, minimum subscription, as per SEBI Regulations, is:

80% of ticket size. 90% of ticket size. 90% of amount fixed by the company in its Prospectus. 80% of amount fixed by the company in its Prospectus.

(xii) Business intelligence tools which put BI and data visualization functionality directly into business applications is called as:

Mobile BI Embedded BI Collaborative BI Real time BI

(xiii) In the classification of MSMEs, which one of the following criteria for medium enterprises based on
(1) Investment in plant, machinery and equipment (2) Turnover, is correct?

(1) not to exceed ₹50 crores and (2) not exceeding ₹250 crores (1) not to exceed ₹25 crores and (2) not exceeding ₹150 crores (1) not to exceed ₹100 crores and (2) not exceeding ₹500 crores No such limits

(xiv) The Insolvency and Bankruptcy Board has power of Court in respect of issue of summons, discovery and production of books, inspection of books/registers and issue of commission for examination of witnesses. Under which session is this?

Session Court High Court Criminal Court Civil Court

(xv) As per the IRDA Act, 1999, the minimum paid-up capital requirement for registration in the “Life, General or Health Insurance” sector of insurance business is:

₹100 crores ₹200 crores ₹300 crores ₹500 crores

June 24 Law Paper