(CA Inter)Jan 27/Sep26

6 Shri Limited (a company having CSR Committee as per the provision of Section 135 of the Companies Act, 2013) decides to spend and utilize the amount of Corporate Social Responsibility on the activities for the benefit of all the employees of Shri Limited. As per the provision of Companies Act, 2013 this would mean that:- (a) This is the total amount spent on Corporate Social Responsibility activities by Shri Limited for that financial year (b) No amount spent on Corporate Social Responsibility activities by Shri Limited for that financial year (c) Only Half of the total amount spent, shall be considered to be spent on Corporate Social Responsibility activities by Shri Limited for that financial year (d) Only the amount that has been spent on the employees having salary of Rs. 20,000 per month or less, shall be considered be considered to be spent on Corporate Social Responsibility activities by Shri Limited for that financial year

4 Feel Rich Co. Ltd. Having its registered office at New Delhi, is a subsidiary of a German company named Richman Company limited. The financial year of the parent/holding company ends on 31st December every year. The subsidiary company intends to follow a different financial year for consolidation of its accounts with its parent company, situated outside India. For doing so it is required to take prior permission of the competent authority. For the purpose from the following who will be this competent authority

2 Excellent Art Private Limited, has a paid up capital of Rs.50 crore, Turnover of Rs.25 crore and borrowing of Rs.25 crore and outstanding deposits of Rs.30 crore. Decide if the Company needs to comply with internal audit requirements under the Act? (a) No. The provisions of Internal audit are not applicable on private companies. (b) Yes. Company is having Paid up capital of Rs.50 Crore and outstanding deposits more than Rs.25 crore. (c) No. Because the borrowings are less than Rs.100 crore and Turnover is less than Rs.200 crore (d) None of the above

1 Amex limited is a public company having a net- worth of Rs. 950 crores, turnover of 200 crores (the company is just 5 years since the date of its incorporation) during the immediately preceding financial year, has to constitute a Corporate Social Responsibility (CSR) Committee. It has 9 Directors (A, B, C, D, E, F, G, H and I). Further, Mr. F, G, H and I are independent directors. Out of the following statements which statement is correct: (a) CSR committee may constitute of A, B and C (b) CSR committee may constitute of A, B and D (c) CSR committee may constitute of A, F and G (d) There is no need to constitute a CSR committee as the turnover is just 200 crores during the immediately preceding financial year

🌟Company Law MCQ's🌟 Chapter 9: Accounts of Companies

12 The amount accumulated in the Investor Education and Protection Fund shall not be used for: a. refunds in respect of unclaimed dividends, matured deposits, matured debentures, application money due for refund and interest thereon. b. reimbursement of legal expenses incurred in pursuing class action suits under section 37 and 245. c. grants or donation to the Central Government for the purpose of investor’s education and training. d. distribution of any disgorged amount among eligible and identifiable applicants who have suffered losses.