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Subject Code: HBBA

Name :

Register No. :

TAMIL NADU NATIONAL LAW SCHOOL, TIRUCHIRAPPALLI

B.Com., LL.B. (Hons) Degree Course

Second Year –Third Semester, End Semester Examinations, November 2015

FINANCIAL SERVICES AND MARKETS

Time: 2 ½ Hours Maximum Marks: 50 Marks

Part – A (5 X 3 = 15 Marks)

Answer any FIVE of the following questions:

1. What is Industrial Securities Market?

2. What is Investment?

3. Write short notes on:


i. Stock- Invest
ii. Underwriting of Securities
iii. Book Building

4. What is Securitisation?

5. What is Hire Purchase –Instalment System?

6. Write short notes on


i. Consumer Finance
ii. Leasing
iii. Credit Rating

7. What is Mutual Fund?

8. What is Factoring and Forfaiting?


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Part – B (3 X 5 = 15 Marks)

Answer any THREE of the following questions:

9. Explain the characteristics of Financial Services.

10.Explain the various options available for investment.

11.Discuss the reasons for preferring securitized financial instrument.

12.Explain the features of Credit Rating.

13.Explain the various types of consumer finance.

14.Explain the characteristics of Leasing.

Part – C (2 X 10 = 20 Marks)

Answer any TWO of the following questions:

15.Discuss the Regulatory Framework of Financial Services.

16.Enumerate the classification of Mutual Fund Schemes.

17.Explain the various functions of Merchant Banking.

18.Distinguish between Factoring and Forfaiting.

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Subject Code: HBBB

Name :

Register No. :

TAMIL NADU NATIONAL LAW SCHOOL, TIRUCHIRAPPALLI


B.Com., LL.B. (Hons) Degree Course
Second Year –Third Semester, End Semester Examinations, November 2015

CORPORATE ACCOUNTING

Time: 2 ½ Hours Maximum Marks: 50 Marks

Part – A (5 X 2 = 10 Marks)

State the meaning of any FIVE:

1. Share forfeiture
2. Redemption of Preferential Shares
3. Contingent Liabilities
4. Profit & Loss Appropriation Account
5. Lump sum Method of Purchase Consideration
6. Rebate on Bills Discounted
7. Reinsurance Accepted

Part – B (2 X 5 = 10 Marks)

Answer any TWO of the following questions:

8. Discuss the Legal provisions relating to preparation of final accounts of


Banking companies.

9. Mr. X & Y agreed to sell their business to a limited company from 1.1.2014
but the company was legally incorporated on 1.5.2014 and prepared final
accounts on 31.12.2014. it was observed that the sales were uniform upto
the date of incorporate but went up by 50 % on average thereafter.
Calculate time ratio and sales ratio.

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10.The following relates to a Life Insurance Corporation for the year
31.03.2014:

Premiums received during the year Rs.13,59,600


Outstanding premiums on 1.04.2013 Rs.1,04,400
Outstanding premium on 1.04.2014 Rs.1,30,800
Premium received in advance 1.04.2013 Rs.33,600
Premium received in advance on 1.04.2014 Rs.26,400
Reinsurance premiums for 2013-14 Rs.1,92,000
Bonus in reduction of premium for 2013-14 Rs.8,400

Find out the amount of premium to be credited to revenue account.

Part – C (2 X 15 = 30 Marks)

Answer any TWO of the following questions:

11.Ganesh Ltd. issued 10,000 shares of Rs.10 each at Rs.11 per share.
Share money was payable as below:

On application Rs.2 per share


On allotment Rs.4 per share (including premium)
On first call Rs. 2 per share
On final call Rs. 3 per share

The offer was oversubscribed by 5,000 shares and the applicants were
allotted shares on a pro-rata basis. Surplus application money was adjusted
for future share due. All shares were fully called-up and money was
received except on 300 shares of Rajesh who did not pay allotment and call
money. These shares were forfeited. Give necessary journal entries and
prepare important ledger accounts.

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12. Ram Ltd. was registered with an authorized capital of Rs.6,00,000 in equity
shares of Rs. 10 each. The following is its Trial Balance on 31st March 2015.

Particulars Debit Credit


Goodwill 25,000
Cash 750
Bank 39,900
Purchases 1,85,000
Preliminary expenses 5,000
Share capital - 4,00,000
12% Debentures - 3,00,000
Profit & Loss Account - 26,250
Calls-in-arrears 7,500 -
Premises 3,00,000 -
Plant & Machinery 3,30,000 -
Interim dividend 39,250 -
Sales - 4,15,000
Stock 75,000 -
Furniture & fixtures 7,200 -
Sundry debtors 87,000 -
Wages 84,865 -
General expenses 6,835 -
Freight and carriage 13,115 -
Salaries 14,500 -
Directors’ fees 5,725 -
Bed debts 2,110 -
Debenture interest paid 18,000 -
Bills payable - 37,000
Sundry creditors - 40,000
General Reserve - 25,000
Provision for bad debts - 3,500
12,46,750 12,46,750

Prepare Profit & Loss account, profit & Loss Appropriation account
and Balance sheet in proper form after making the following adjustments.

i. Depreciate plant and Machinery by 15%


ii. Write off Rs.500 from preliminary expenses
iii. Provide for 6 months interest on debentures
iv. Leave bad and doubtful debts provision at 5% on sundry debtors
v. Provide for income tax at 50%
vi. Stock on 31.3.2015 was Rs.95,000.

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13.TV Ltd. absorbed the business of Radio Ltd. as a going concern on 31st
March 2013. The balance sheets of the two companies on that date, being as
under:
TV Ltd. Radio Ltd. TV Ltd. Radio Ltd.
Liabilities Assets
Rs. Rs. Rs. Rs.
Share capital 20,00,000 6,00,000 Goodwill - 1,00,000
Paid up capital 10,00,000 6,00,000 Building 5,00,000 -
Reserves 1,20,000 - Stock 1,40,000 2,60,000
Creditors 20,000 1,00,000 Debtors 2,80,000 2,00,000
Bank over draft - 1,00,000 Investments 1,20,000 -
Bank 1,00,000 -
P & L Account - 2,40,000
11,40,000 8,00,000 11,40,000 8,00,000
The purchase consideration was agreed upon at Rs.4,00,000 payable
as to Rs.2,00,000 in cash and the balance by issue of 16,000 equity shares of
Rs.10 each fully paid in TV Ltd at an agreed value of Rs.12.50 per share.
The sale was completed and Radio Ltd. then went into liquidation.
Pass journal entries in the books of TV Ltd. and prepare the Balance Sheet
of TV Ltd.
14.From the following trial balance as on 31.3.2015, prepare a profit and Loss
account and Balance Sheet as per Banking Regulation Act.
Debit Rs. Credit Rs.
Cash Balance 300 Interest on Advances 900
Balance with other banks 450 Interest from Investments 325
Cash with RBI 125 Commission, Exchange & 150
Brokerage
Investments in Govt., 325 Profit on sale of investments 30
Securities
Other approved securities 105 Other revenue receipts 45
Bills purchased and 225 Share capital 1,985
discounted
Cash credits, Overdrafts and 2,375 Statutory Reserves 610
Demand Loans
Term Loans 875 Profit & Loss A/c 550
Premises 935 Fixed deposits 375
Furniture 350 Savings deposits 425
Interest paid 70 Current accounts 175
Salary 82 Borrowings from other banks 325
Printing & Stationery 42 Borrowings from RBI 150
Postage & Telegrams 15 Bills Payable (Net) 125
Repairs 35 Interest Accrued 184
Interest Accrued 45
6,354 6,354
Bills for Collection 235

Adjustments:
1. Provide Depreciation on Premises at 10%
2. Transfer 10 % of profit to General Reserve
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Subject Code: HBBC

Name :

Register No. :

TAMIL NADU NATIONAL LAW SCHOOL, TIRUCHIRAPPALLI


B.Com., LL.B. (Hons) Degree Course
Second Year – Third Semester, End Semester Examinations, November 2015

LAW OF CONTRACTS-II

Time: 2 ½ Hours Maximum Marks: 50 Marks

Part – A (2 X 4 = 8 Marks)

I. Answer any TWO of the following questions.

1. Brief on the fundamentals of a guarantee contract using the case of Swan v.


Bank of Scotland, (1836)10 Bling NS 627.

2. Differentiate between ‘Particular Lien’ and ‘General Lien’ under the laws
of bailment?

3. What is the effect of ‘Ratification’ in law of agency?

Part – B (4 X 6 = 24 Marks)

II. Answer any FOUR of the following questions:

4. ABACUS is a registered partnership firm consisting of 5 partners who are in


the business of producing TV serials. One Mr. Khan, who is a well known
production designer, enters into a contract with ABACUS for the service of
providing junior artists in the required number. Their agreement provides
that for their services 25% of the profit ABACUS receives from each serial
production for 6 months will be given as commission. The contract goes on
as agreed without any change in the profit sharing. Mr. Khan, in pursuance
of their agreement, is also allowed to check the accounts of the firm. After 3
years, the firm goes into dissolution by insolvency. Now, all the creditors
sue the ABACUS including Mr. Khan. Can Mr. Khan be made liable?

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5. Mr. Justin had purchased a loan from the Mr. Faris Ali for Rs.25 lakhs.
For the repayment of the same, Mr. Justin had contacted Bank of Baroda to
act as surety at an interest rate of 25% p .a. After 8 months, Mr. Justin went
on a business trip to Peru and went missing. Henceforth, Mr. Faris Ali tries
to enforce the bank guarantee. At the moment, the bank comes to knows
that even before entering into the guarantee contract actually an amount of
15 lakhs is already paid by Mr. Justin and despite which the Bank was
asked to enter into a guarantee contract for full 25lakh. Therefore, Bank
now approaches the court for discharge of surety. Is such a claim valid?

6. Goulding, Mouldings & Bros (GM & Bros) is a very famous Plastic bottle
manufacturing factory. They enter into a contract with Zhi Jung Co.,
Chinese Co, for the export of 10 tonnes of a special variety of polyethylene
terephthalate (PET) for the manufacture of hard plastic bottles.
For performance of the payment, Zhi Jung Co., necessitates that a security
be created in their favor in form of a bill of exchange to be encashable in
the SBI, Kolkata Branch. Thus, in pursuance of the same, GM & Bros
created a bill of exchange for Zhi Jung Co. and endorsed the bill of lading
for the 10 tonnes of PET to the SBI creating a pledge on it. When, the
goods arrived, the SBI found that the PET was not of the contracted quality
and refused the payment of bill of exchange. Zhi Jung Co. claims that SBI
cannot make such refusal as real owners are GM & Bros and SBI is not any
mercantile agents of GM & Bros. Decide.

7. Mr. Basavappa entered into contract of sale for 500 Kanchipuram silk
sarees in various shades of green, blue and yellow with Mrs. Beena Kannan
to be kept in her new Seematti showroom, at Jabalpur. The contract of sale
had a clause which said “……..under no condition after the consignment is
made, Mr. Basavappa (here in after called “the seller”) will be liable to
Mrs. Beena Kannan(here in after called “the buyer”)for the any kind of
future loss including fire, theft,loss of goods in transits, etc…..”.
Henceforth, Mrs. Beena Kannan, takes up an insurance policy for 20 lakhs
from the Reliance Insurance Ltd, an insurance company for the safe

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delivery of goods. When the goods reach Jabalpur, it’s kept in one of the
public warehouses. But on the very next day, a fire breaks out damaging
around 300 of the sarees along with other goods kept in the warehouse.
Mr. Basavappa sues for price of the goods. But Mrs. Beena Kannan rejects
it as the goods delivered got lost. Decide whether the claim for price is
sustainable? And who bears the risk in this case?

8. Mr. George was manager of Bank of India, Tiruchirappalli branch. One of


their customers endorses a forged promissory note worth of Rs.60,000 to be
encashed. Bank receives it in good faith and value and sends the same to the
Government state treasury for renewal in bank’s name. Now the actual
owner of the note recovers the money from the Government Treasury
directly. The State of Tamil Nadu now sues the Manager, Mr. George and
his bank for the recovery of the same upon an implied indemnity contract.
Is the suit sustainable?

Part – C (2 X 9 = 18 Marks)

III. Answer any TWO of the following questions:

9. “Conditions and Warranties are heart and soul of a Sale Contract”-


comment.

10.“Agency is a relationship of parties purely based on trust”- Justify the


statement in reference to the rights and duties of agent as provided under
the Indian Contract Act, 1872.

11.Gayathri, a first year law student, aged 17 years old and her friends decide
to start a shop in partnership which will sell various branded cosmetics and
even provide consultations services upon the same. Her Uncle and Aunty
decide to invest in the shop as partners. Being a law student, she did some
basic readings upon the partnership but does not understand the concept of
how the relationships between partners are guided under law and how to
dissolve the firm & its consequences. As her senior in Law College, she
approaches you. Advice her.
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Subject Code: HBBD

Name :

Register No. :

TAMIL NADU NATIONAL LAW SCHOOL, TIRUCHIRAPPALLI

B.Com., LL.B. (Hons) Degree Course

Second Year – Third Semester, End Semester Examinations, November 2015

FAMILY LAW-I

Time: 2 ½ Hours Maximum Marks: 50 Marks

Instructions
 No clarification can be sought during examination. Answer as it is.
 Bare Acts are not allowed.
 Electronic gadgets are prohibited.
 All questions are compulsory.
 You are requested to follow the question number as given in question paper.

Candidates are expected to answer with case laws, appropriate provisions and principles of
family law wherever necessary.

Part – A (4 X 2 = 8 Marks)

Define the following:

1. Mehr

2. Option of puberty

3. Sources of muslim law

4. Natural guardian

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Part – B (3 X 4 = 12 Marks)

5. What is a triple talaq? Discuss the validity of it under shia and sunni school.

6. What is maintenance pendent lite? What are the essentials for it?

7. What is judicial separation? Explain the grounds for it under hindu law.

Part – C (3 X 10 = 30 Marks)

8. Read the following statements and comment your views on Section 9,


HMA.
 Justice Rohatgi made a statement that “Introduction of constitutional law
in the home is most inappropriate. It is like introducing a bull in a china
shop. It will prove to be a ruthless destroyer of the marriage institution
and all that it stands for. In the privacy of the home and the married life
neither Article 21 nor Article 14 have any place.”

 The Matrimonial Proceedings and Property Act 1970 abolished the


action of restitution of conjugal rights in England saying it as barbarous.

9. Critically examine the concept of matrimonial bars and bring out their
relevance in deciding matrimonial disputes.

10. Can two Hindus solemnize their marriage under the Special Marriage Act,
1954? What are the advantages and consequences of Special Marriage
Act when compared to the Hindu Marriage Act, 1955?

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Subject Code: HBBE

Name :

Register No. :

TAMIL NADU NATIONAL LAW SCHOOL, TIRUCHIRAPPALLI

B.Com., LL.B. (Hons) Degree Course

Second Year – Third Semester, End Semester Examinations, November 2015

CONSTITUTIONAL LAW-I

Time: 2½ Hours Maximum Marks: 50 Marks

Q.1. Answer any TWO of the following questions: (2 x 5 = 10 marks)

a) Explain any two procedural safeguards with respect to preventive detention in


India.

b) Discuss any two points of criticism offered by H.M. Seervai against the new
doctrine of equality as non-arbitrariness under Article 14.

c) Is the right to privacy a fundamental right in India?

d) Discuss the relationship between Parts III and IV of the Constitution.

Q.2. Apart from reservation in educational institutions and public employment, what
alternative programmes of affirmative action can India explore? (7 marks)

Q.3. Comment on the uniqueness of Indian secularism. (8 marks)

Q.4. If you were the sixth judge in Bachan Singh v. State of Punjab (1980-5J),
how would you decide the main issue, viz. whether the death sentence is
constitutionally valid under Articles 14 and 21 of the Constitution? (10 marks)

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Q.5. Willingdon College is recognized by, and is a part of, the University of Madras.
The Willingdon Students’ Hostel is located adjacent to the College, and provides
low-cost housing to both female and male students. However, its rules set a curfew
of 10 p.m., requiring female students to be back in their dormitories by such time.
Further, female students must have their local guardians sign consent forms in
case they wish to take a night-out. Meanwhile, the #PinjraTod (‘break the cage’)
campaign against discriminatory hostel rules of Indian colleges starts gaining
momentum. Student-campaigners, including from Willingdon, file writ petition,
claiming that their respective colleges/Universities violate the rights of equality
guaranteed under the Constitution of India, 1950.

(a) The Supreme Court, however, dismisses their petitions in the following
words: “The impugned hostel rules have been made in the interest of, and
for the benefit of, girl-students. Just as parents require children to be back
home by a reasonable time, so do universities and colleges. The curfew of
10 p.m. is a reasonable time, and requirement of local guardians’
permission is a reasonable precaution, considering the frequent cases of
sexual assault against girls reported in this country. This Court is,
therefore, of the opinion that no violation of Articles 14 and 15 of the
Constitution is made out. Resultantly, we reject these petitions, advising
students not to waste their time, and focus instead on their studies.”
Relying on case law on sex-based discrimination, discuss whether the
Court has given a constitutionally tenable opinion.

(b) The Court’s judgment only makes the protesters grow angrier. They
organize a demonstration outside the Supreme Court premises on
Bhagwandas Road. In a press interview, Mira, the Willingdon campaign-
leader, criticizes the judgment as “an abdication of its moral and
constitutional duty towards the students and women of India”, and terms
the Court as an “institution of entrenched patriarchy”. This interview is
published in the print media and broadcasted on news channels.
The Supreme Court initiates proceedings for criminal contempt against
Mira, who appoints you as her counsel. How will you argue Mira’s case?
(8 + 7 = 15 marks)
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