Top 150+ Solved Industrial and Company Law MCQ Questions Answer
Q. A director or manager in a company may be paid remuneration by way of
a. a specified percentage of the net profits of the company
b. Monthly payment
c. partly by monthly payment and partly at a specified percentage of net profits of the company.
d. (d)All of the above
Q. A person shall not be eligible for appointment as a managing or whole-time director or a manager of a company if he had been detained for any period under the__________
a. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974.
b. Prevention of Money Laundering Act, 2001
c. Foreign Exchange Management Act, 1999
d. None of the above
Q. The _____________is not an employee nor a servant of the company, but a director who is entrusted with any substantial powers of management
a. Whole time director
b. Women director
c. Managing director
d. All of the above
Q. No person can be managing director of __________public or private company (which is a subsidiary of a public company).
a. more than 1
b. more than 2
c. more than 3
d. more than 4
Q. According to Companies Act, 2013, the first annual general meeting of a company should be held within a period of ________from the date of closing of the first financial year of the company.
a. 7 months
b. 8 months
c. 9 months
d. 10 months
Q. In case of a private company, __________personally present shall be the quorum for a meeting of the company.
a. members
b. 2 members
c. 3 members
d. 4 members
Q. A person appointed by any member of the company to attend and vote at the meeting on his behalf is called _________
a. the Proxy
b. Alternate director
c. Qualifier
d. Agent
Q. If no person is named in the articles of association as director, the person who sign the memorandum of association of the company become ____________
a. Managing director
b. Independent director
c. Whole time director
d. First director
Q. _____________ is a misdemeanor committed by majority shareholders, who under control of their majority power wrongfully inflict upon the minority shareholder or minority shareholders any harm of injury.
a. Mismanagement
b. Minority Right
c. Majority Right
d. Oppression
Q. An application for the winding up of a company can be made to the court by
a. The company
b. Any creditor or creditors
c. The registrar
d. All of the above
Q. Misuse of company funds is one form of
a. Oppression
b. Mismanagement
c. Violation of official liquidators
d. None of the above
Q. When the company is a mere bubble and does not carry on any business it is a just and equitable clause to
a. Compulsorily winding up
b. Inspect the company
c. Report it to the authority for mismanagement
d. None of the above
Q. The affairs of the company are being conducted in a manner prejudicial to public interest or in a manner prejudicial to the interests of the company is known as-
a. Oppression
b. Mismanagement
c. Winding up
d. None of the above
Q. A person liable to contribute to the assets of a Company in the event of its being woundup is called
a. Shareholder
b. Company Member
c. Contributory
d. None of the above