(CA Inter)May26/Sep26

7 Which among the following companies is not required to provide its members the facility to exercise right to vote by electronic mode under the provisions of the Companies Act, 2013? (a) B Limited, whose equity shares (the company is having both equity as well as preference shares) are listed on a recognised stock exchange. (b) A Limited, whose equity shares (only type of share the company is having) are listed on a recognised stock exchange (c) C Limited, whose preference shares (the company is having both equity as well as preference shares) are listed on a recognised stock exchange (d) D Limited, whose equity shares as well as preference shares are listed on a recognised stock exchange.

5 Goals Limited, a listed company has authorised share capital of ` 25,00,000 (issued, subscribed and paid up capital of 20,00,000). The company has planned to buy back shares worth 10,00,000. What is the maximum amount of equity shares that the company is allowed to buy back based on the total amount of equity shares? (a) ` 2,00,000 (b) ` 5,00,000 (c) ` 6,25,000 (d) ` 8,00,000

2 Prithvi Cements Limited is desirous of issuing debentures carrying voting rights. Which of the following options is best suited in such a situation: (a) Prithvi Cements Limited can issue debentures carrying voting rights if an ordinary resolution is passed permitting such issue. (b) Prithvi Cements Limited can issue debentures carrying voting rights if a special resolution is passed permitting such issue. (c) Prithvi Cements Limited can issue debentures carrying voting rights if it mortgages land and buildings worth two times the amount of such debentures. (d) Prithvi Cements Limited cannot issue debentures carrying voting rights

1 The Authorized share capital clause of LMN & Co. ltd. consisted of Preference share capital and Equity share capital both. With regard to equity share capital, the article of association of the company has given authorization to issue differential equity shares. Apart from authorization by the Articles, from the following strike out the condition, which is not mandatory to comply with— (a) Such issue of shares must be authorized by an ordinary resolution passed at a general meeting of the shareholders or by postal ballot, as the case may be (b) The company must haveconsistent track record of distributable profit for the last five years. (c) The company has no subsisting default in the payment of the declared dividend to its shareholders. (d) The company has not defaulted in filing financial statements and annual returns for three financial years immediately preceding the financial year in which it is decided to issue such shares

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20 XYZ Pvt. Ltd. is a Private Limited Company desires to issue shares through private placement to 35 group of persons. At the same time Company also offered securities to 10 employee under ESOP u/s 62(1)(b). While calculating number of persons for private placement under section 42 of the companies Act, 2013, can company also considered numbers of employees to whom the securities has been offered under ESOP u/s 62(1)(b)?

18 Extra Limited is a growing Company and requires additional funds for expansion from time to time. They are following the same process for making an offer to public and then issue those shares. This is very time and energy consuming for them. Kindly advise them if there is any way out. a) During first offer they shall file prospectus with a validity on one year, so subsequent offer issued during the period of validity of that prospectus, no further prospectus is required; b) During first offer they shall file prospectus with a validity on two years, so subsequent offer issued during the period of validity of that prospectus, no further prospectus is required; c) During first offer they shall file shelf prospectus with a validity on one year, so subsequent offer issued during the period of validity of that prospectus, no further prospectus is required; d) During first offer they shall file shelf prospectus with a validity on two years, so subsequent offer issued during the period of validity of that prospectus, no further prospectus is required.

17 Being in need of further capital, Rimsi Cotton-Silk Products Limited opted to offer 50.00 lacs equity shares of Rs. 1 each to 50 identified persons on ‘private placement’ basis and accordingly a letter of offer accompanied by serially numbered application form was sent to them after fulfillment of due formalities including passing of special resolution. One of the applicants, Rajan made a written complaint to the company highlighting the fact that the letter of offer was incomplete as well as illegal, for the same did not contain ‘renunciation clause’ though he wanted to exercise his ‘right of renunciation’ in favour of one of his son Uday. By choosing the correct option, advise the company in this matter. (a) As the ‘Right of Renunciation’ cannot be denied, the company needs to rectify its mistake by including the same in the letter of offer and the application form. (b) The company is prohibited from providing ‘Right of Renunciation’ and therefore, the letter of offer and the application form need not include any such clause. (c) Instead of absolute prohibition, the company needs to provide ‘Right of Renunciation’ limited to twenty five percent of offering. (d) Instead of absolute prohibition, the company needs to provide ‘Right of Renunciation’ limited to fifty percent of offering.