MCQs on THE COMPANIES ACT, 2013 Part-04

Q.1:- Certificate of registration" means the certificate of registration granted to a valuer under the rule:

• 6(4)
• 6(3)
• 7(6)
• 6(6)

Q.2:- Certificate of registration – means the certificate of registration granted to a valuer, under

• Rule 6 (6)
• Rule 6 (4)
• Rule 6 (5)
• Rule 6 (7)

Q.3:- Conduct of valuation under any other law other than the Act or these rules by any person...... be affected by virtue of coming into effect of these rules:

• Shall not
• Will
• Shall
• Must

Q.4:- “Valuation standards” means the standards on valuation referred to in

• Rule 17
• Rule 18
• Rule 16
• Rule 19

Q.5:- Who has not been convicted by any competent court for an offense punishable with imprisonment for a term .......or for an offense involving moral turpitude, he is eligible to act as a valuer?

• Less than six months
• Exceeding six months
• Six Month
• None of the above

Q.6:- In case of offenses by officers of the company in liquidation, such officer shall be punishable with a fine of minimum Rs.................& maximum Rs...................

• 50,000;3,00,000
• 1,00,000 ;5,00,000
• 50,000 ;3,50,000
• 1,00,000;3,00,000

Q.7:- In the case where a floating charge is treated as invalid, interest @............ % shall be paid by the company.

• 12%
• 18%
• 24%
• 5%

Q.8:- If in the course of winding up of company it appears that business has been carried with intent to defraud creditors/another person for any fraudulent then on application by……………to Tribunal, it shall examine & pass orders to declare any person liable without limitation & be personally liable.

• Creditor, OL, CL orcontributory
• Debenture holders, OL, CL orcontributory
• Any of the above
• Shareholders, OL, CL or contributory

Q.9:- Any creditor/contributory may inspect the books kept by the company liquidator:

• Personally
• ThroughAgent
• Either (a)or(b)
• None of the above

Q.10:- Money in the Company Liquidation Dividend & Undistributed Assets a/c, if remained unpaid/unclaimed for ................ years & be transferred to.................

• 7years; IEPF
• 15 years; IEPF
• 15 years; General Reserve
• 7 years; GeneralReserve

Q.11:- On appointment as provisional liquidator or Company Liquidator, as the case may be, such liquidator shall file a declaration within....... days from the date of appointment in the prescribed form disclosing a conflict of interest or lack of independence in respect of his appointment:

• 7
• 10
• 15
• 21

Q.12:- Company may not be wound up by tribunal:

• On application by the Registrar or any other person authorized by theCG
• By ordinary resolution resolving that company be woundup
• On just and equitableground
• Company has acted against the nationalinterest

Q.13:- Within how many days the Tribunal is required to pass an order under section 273:

• Within 120 days from the date of presentation of the petition
• Within 90 days from the date of presentation of the petition
• Within 30 days from the date of presentation of the petition
• Within 60 days from the date of presentation of the petition

Q.14:- Official Liquidator shall dispose of all assets within ….. days of his appointment.

• 15
• 30
• 60
• 90

Q.15:- Official liquidator shall be appointed by:

• SG
• CG
• Shareholders
• SG & CG Jointly

Q.16:- Property can be sold for…….after winding-up order is passed.

• For Director's Liability
• Recovery of Tax Dues
• Debenture Holder's Liability
• None of the above

Q.17:- All suits or legal proceedings shall stay on winding up order except proceeding pending in appeal before:

• SupremeCourt
• HighCourt
• Either (a)or(b)
• CivilCourt

Q.18:- Which of the following is not a preferential creditor?

• Expenses of Investigation
• Amount due to employee
• Sum dues to employee from PF
• Taxes due to central Government

Q.19:- The term Property means:

• Shares/Stocks
• Unprofitable Contracts
• Other Property which is not saleable
• All of the above

Q.20:- Following is not a reason for buy back:

• Raising EPS
• Putting unused cash to use
• Increasing value of shares
• Increasing profits

Q.21:- In cases where proper accounts have not been kept, then every defaulting officer shall be liable with a fine of minimum Rs............. & maximum Rs...............

• 1,00,000;3,00,000
• 1,00,000 ;5,00,000
• 50,000 ;3,50,000
• 50,000;3,00,000

Q.22:- A Floating charge on the property created within ..........months immediately preceding the commencement of winding up shall be invalid.

• 9 Months
• 3 Months
• 12 Months
• 6 Months

Q.23:- 411. Directors in respect of which winding-up order is passed by Tribunal u/s273(1) shall within...........days of such order submit BOA of the company to such liquidator.

• 45 days
• 30 days
• 90 days
• 60 days

Q.24:- Petition for Winding Up to Tribunal can be made by:

• Any Contributory or Contributories
• The Registrar
• The Company
• All of the above

Q.25:- Shall be deemed as the commencement date of winding up:

• Date of Application
• Date of presentation of petition for windingup
• Date of appointment ofLiquidator
• Date of DissolutionOrder

Q.26:- Valuation Standards for valuers will be notified by

• National Company Law Tribunal
• Central Government
• Registered Valuers Organization
• Insolvency and Bankruptcy Board of India

Q.27:- Where a company has been dissolved, Tribunal may at any time within years of the date of dissolution, on application by CL of company, make an order that dissolution is void & such proceedings may be taken as if the company has not been dissolved.

• 3 years
• 5 years
• 2 years
• 1 year

Q.28:- In any fairness opinion or independent expert opinion submitted by a valuer, if there has been a prior engagement in an unconnected transaction, the valuer shall declare the association with the company during the last…......

• 5 years
• 8 years
• 1 year
• 3 years

Q.29:- A valuer shall refrain from being involved in any action that would bring....... to the profession:

• Bad name
• Enquiry
• Humiliation
• Disrepute

Q.30:- A Complaint may be filed against a registered valuer or registered valuer organization before the authority along with a non-refundable fee of

• Rupees one thousands only
• Rupees three thousands only
• Rupees two thousands only
• No fees is required to be paid

Q.31:- A Valuer shall not conduct business which in the opinion of the authority or the registered Valuerorganisation discredits the:

• Profession
• MCA
• IPA
• IBBI

Q.32:- A valuer shall maintain the integrity by being honest, straightforward, and.. in all professional relationships:

• Honest
• Forthright
• Fair
• Sincere

Q.33:- A valuer should act with objectivity in his/its professional dealings by ensuring that his/its decisions are made without the presence of any bias, conflict of interest, coercion, or undue influence of any ________ whether directly connected to the valuation assignment or not:

• Party
• Competitor
• Manager
• Client

Q.34:- Valuer shall......... professional services in accordance with the relevant technical and professional standards that may be specified from time to time

• Carry out
• Ensure
• Provide
• Deliver

Q.35:- As an .......valuer, the valuer should not charge a success fee:

• Independent
• Certified
• Registered
• Professional

Q.36:- A valuer should have a duty to carry out with care and skill, the instructions of the client insofar as they are compatible with the requirements of integrity, objectivity and:

• Subjectivity
• Fairness
• Skill
• Independence

Q.37:- A valuer should wherever necessary disclose to the clients, possible sources of conflicts of duties and interests while providing____ services:

• Valuation
• Unbiased
• Professional
• Expert

Q.38:- If the transferor company is dissolved, the fee, if any, paid by the transferor company on its authorized capital shall set-off against any fees payable by the transferee company on its authorized capital subsequent to the amalgamation.

• not be
• Be
• may be may not be
• None of the above

Q.39:- No compromise or arrangement shall be sanctioned by the Tribunal unless a certificate by the.................. has been filed with the Tribunal to the effect that the accounting treatment, if any, proposed in the scheme of compromise or arrangement is in conformity with the accounting standards prescribed under section 133.

• RBI
• company's auditor
• SEBI
• (a) and (b)

Q.40:- A notice shall provide that the persons to whom the notice is sent may vote in the meeting..................to the adoption of the compromise or arrangement within one month from the date of receipt of such notice:

• Through postal ballot
• either themselves
• through proxies
• All of the above

Q.41:- The approval from 9/10th shareholders in value shall be received within .................. months after making of an offer on that behalf by the transferee company.

• 1
• 2
• 3
• 4

Q.42:- Order of tribunal for merger and amalgamation is required to file with ROC within:

• 21 Days
• 15 days
• 30 days
• 60 Days

Q.43:- The central Government after receiving the objection or suggestions or for any reason is of the opinion that such a scheme of merger or amalgamation is not in the public interest or in the interest of the creditor, it may file an application before the tribunal within a period of ..........of the receipt of the scheme starting its objections and requesting that the tribunal may consider the scheme:

• 15 days
• 45 days
• 60 days
• 45 days

Q.44:- The transferee company shall express his desire to acquire the remaining shares of dissenting shareholders within months after the expiry of the four months received for approval of specified number of shareholders.

• 4
• 3
• 2
• 1

Q.45:- In Case of merger or amalgamation between two or more small companies or between holding Company and its wholly-owned subsidiary company, the transferee company shall file a copy of the scheme with:

• The Official liquidator
• The Central Government
• The ROC
• All of the above

Q.46:- Provided that any objection to the compromise or arrangement shall be made only by persons holding not less than………… percent of the shareholding or having outstanding debt amounting to not less than ……… percent of the total outstanding debt as per the latest audited financialstatement.

• 15 ; 10
• 10 ; 15
• 5 ; 10
• 10; 5

Q.47:- Section 247 of Companies Act, 2013 applicable on the valuation of which of the following:

• Any property, stocks, shares, debentures; securities or goodwill
• Liabilities of a company
• Net worth of a company
• All of the above

Q.48:- “certificate of recognition” means the certificate of recognition granted to a registered valuers organization under

• Rule 13(7)
• Rule 13(6)
• Rule 13(8)
• Rule 13(5)

Q.49:- An individual eligible for registration as a registered valuer under rule 3 may make an application to the authority in……along with a non-refundable application fee of………….in favor of the authority.

• Form A Rs 10000
• Form B Rs 10000
• Form B Rs 5000
• Form A Rs 5000

Q.50:- syllabus, format, frequency of the valuation examination and qualifying marks shall be published on the websites of the_______ at least three months before the examination:

• IBBI
• Authority
• RVO
• Central Government