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Questions
To form a Public company, there must be minimum 2 persons/promoters.
A Public Limited Company should have a minimum number of two members. State True or False with reasons.
Options
True
False
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Solution
The given statement is False.
Reasons:
A Public Limited Company must have a minimum of seven members, not two.
This is clearly stated under the Companies Act, 2013, which defines that: “A public company must have a minimum of 7 members and can have unlimited maximum members.”
Having only two members applies to a Private Limited Company, not a public one.
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'Articles of association' is the main document of a company.
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Every company must file Articles of Association
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If a company suffers heavy issues and its assets are not enough to pay off its liabilities, the balance can be recovered from the private assets of its members.
Select the correct answer from the options given below and rewrite the statement:
A company is __________.
Select the correct answer from the options given below and rewrite the statement:
___________ are the persons who undertake the process of formation of a company.
Select the correct answer from the options given below and rewrite the statement:
____________has a 21 digit alpha numeric code which is unique number assigned to every company at the time of incorporation.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Minimum 7 members | 1. Persons who conceive the idea of setting up a company. |
| b) DIN | 2. Public company |
| c) Preliminary contracts | 3. Promoters |
| d) Fiduciary duties towards the company. | 4. Eight Digit alphanumeric number. |
| e) CIN | 5. Private company |
| 6. Unique number assigned to each Director. | |
| 7. ROC. | |
| 8. A 21 digit alphanumeric code number. | |
| 9. One-Person Company | |
| 10. Contracts entered by Promoters with third parties. |
Write a word or a term or a phrase which can substitute the following statement.
Persons who undertake the necessary steps to set up a company.
State whether the following statement is True or False.
Promoters are persons who take the necessary steps to set up a company.
State whether the following statement is True or False.
Promoters can make secret profits while setting up a company.
State whether the following statement is True or False.
DSC is needed by Directors when they have to sign documents for e-filing.
State whether the following statement is True or False.
Every Director has to quote his DIN while giving his consent to be a Director of a company.
State whether the following statement is True or False.
All companies need Certificate of Incorporation.
Complete the sentence.
Promoters are the persons who undertake the process of _______.
Select the correct option form the given option:
|
Group A |
Group B |
|
___________ |
Certificate of incorporation |
Select the correct option form the given option:
|
Group A |
Group B |
|
CIN |
_______ |
Answer in brief.
State the contents of Certificate of Incorporation
