(CA Inter)May26/Sep26

14 Newage Private Limited issued 9% Non-convertible Debentures worth 10 lakh and thereafter, the directors contemplated to get them listed. After due formalities, these privately placed nonconvertible debentures of 10 lakh were listed. Which of the following options is applicable in the given situation: (a) Newage Private Limited shall be considered as a listed company. (b) Newage Private Limited shall not be considered as a listed company. (c) Newage Private Limited shall be considered as a listed company only when minimum amount of listed privately placed non-convertible debentures is ` 15 lakh. (d) Newage Private Limited shall be considered as a listed company only when minimum amount of listed privately placed non-convertible debentures is minimum ` 20 lakh

13 Delight Sports Garments Limited is contemplating to raise funds through issue of prospectus in which, according to the directors, a sum of Rs 50 crores should be stated as the minimum amount that needs to be subscribed by the prospective subscribers. The funds shall be raised in four instalments consisting of application, allotment, first call and second & final call. Advise the company by which instalment it should receive the minimum subscription stated in the prospectus. (a) Along with amount subscribed as application money. (b) Along with amount subscribed as final call money. (c) Along with amount subscribed as first call money. (d) Along with amount subscribed as second and final call money.

12 Which of the following statements is not true? (a) in case of shares, the rate of underwriting commission to be paid shall not exceed five percent of the issue price of the share. (b) underwriting commission should not be more than the rate specified by the Article o f Association. (c) in case of debentures, the rate of underwriting commission shall not exceed five percent of the issue price of the debentures. (d) amount of commission may be paid out of profits of the company.

10 When a copy of the contract for the payment of underwriting commission is required to be delivered to the Registrar: (a) Three days before the delivery of the prospectus for registration (b) At the time of delivery of the prospectus for registration (c) Three days after the delivery of the prospectus for registration (d) Five days after the delivery of the prospectus for registration

8. An applicant who made application for allotment along with advance payment of subscription, if he expresses a desire to withdraw his application after changes reported in information memorandum came to his knowledge. The company; a. May refund the monies at discretion of Board of Directors b. Shall refund the monies after deducting the administrative charges within fifteen days c. Shall refund all the monies received as subscription within fifteen days d. Shall refund the monies after deducting the administrative charges within 30 days

7. In case of variation in terms of contract or objects in prospectus, which of the followings statement are not true; (i) Ordinary resolution shall be passed at general meeting (ii) Notice given to shareholder shall also be published in two newspapers (iii) Amount so raised can be invested only in equity share of prescribed class of companies. a) (i) only b) Both (i) and (ii) only c) Both (i) and (iii) only d) Both (ii) and (iii) only