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Amit Bachhawat

Roll No. .................................... Total No. of Question ......... Time Allowed 3 Hours Total No. of Printed Pages .......... Maximum Marks ........

Answers to question are to be given only in English except in the case of candidates who have opted for Hindi medium. If a candidate has not opted for Hindi medium, his answers in Hindi will not be valued.

Question No. 1 is compulsory. Attempt any five questions from the remaining six questions.
Marks Q1. a. C agreed to sell a colour TV set to P under a hire-purchase agreement on guarantee of S and a pledge of Ps furniture. The terms were : hirepurchase price Rs. 24,000 payable in 12 monthly instalments, ownership to be transferred on the payment of last instalment. State whether S is discharged in each of the following alternative cases : Case (a) : If after seven months, P stopped paying the instalments. C sued P for the payment of arrears and P then gave a notice revoking his guarantee for the remaining months. If after seven months, S died. If C without the knowledge of S agreed to increase the number of monthly instalment from 12 to 24 of Rs. 1,000 each. 5

Case (b) : Case (c) :

b.

What are provisions in Companies Act relating to restrictions on voting rights? State with reasons whether the following statements are correct or incorrect. i. Corporate Governance and CSR are synonymous. ii. Emotional Intelligence means technical intelligence.

c.

22 = 5

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d. Q2. a.

What are elements of good Corporate Governance? i. PQR Limited, New Delhi refused to pay bonus to its employees on the ground that an authorized controller appointed by the Delhi Government controls its management and as such is exempt from the liability to pay bonus. Referring to the provisions of the Payment of Bonus Act, 1965, decide whether the plea of the company is tenable.

ii. Hotel Amravati is managed by a firm employing more than 100 employees and covered under the provisions of the Employees Providend Funds and Miscellaneous Provisions Act, 1952. Some of its partners started a new restaurant in the premises registering the restaurant as a new unit as per the applicable State enactment. The restaurant is a different establishment and is not covered under the Employees Provident Funds and Miscellaneous Provisions Act, 1952. Will it succeed? b. c. Draft an indemnity bond for issue of a duplicate share certificate. Explain the significance of non-verbal communication with reference to body language. State the difference between Negotiation and Assignment. What are Key elements in Innovation framework. What is required for Consensus building. Explain the reasons for unethical behaviour among finance and accounting professionals? After increasing authorised Capital Co. failed to file Form No. 5. After 2 years the earlier resolution raising the share capital was rescinded and share capital brought back to its original level. Whether Company committed any offence ?

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Q3. a. b. c. d.

Q4. a.

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b.

RSP Ltd. is a public limited company with a limited liability of its members by guarantee of Rs.10 lakhs to each member.The company increases the liability of the members from Rs.10 to Rs.15 by an alteration made in the liability clause.Advise in the light of Companies Act,whether the members of the company are liable for the increased liability. Draft a special power of attorney? Draft the suitable resolution for change of registered office from one state to another. X, a legal successor of Y, the deceased person, signs a Bill of Exchange in his own name admitted a liability of Rs. 50,000 i.e. the extent to which he inherits the assets from the deceased payable to Z after 3 months from 1st January, 2002. On maturity, when Z presents the bill to X, he (X) refuses to pay for the bill on the ground that since the original liability was that of Y, the deceased, therefore he is not liable to pay for the bill. A cheque was dishonoured at the first instance and the payee did not initiate action. The cheque was presented for payment for the second time and again it was dishonoured. State in this connection whether the payee can subsequently initiate prosecution for dishonour of cheque. M owes money to N. Therefore, he makes a promissory note for the amount in favour of N, for safety of transmission he cuts the note in half and posts one half to N. He then changes his mind and calls upon N to return the half of the note which he had sent. N requires M to send the other half of the promissory note. Decide how a rights of the parties are to be adjusted. What is difference between deontological or teleological theories of ethics. 500 equity shares in XYZ Limited were acquired by Mr. B. But the signature of Mr. A, the transferor, on the transfer deed was forged. Mr. B, after getting the shares registered by the company in his name, sold 200 equity shares to Mr. C on the strength of the share certificate issued by XYZ Limited. Mr. B and Mr. C were not aware of the

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c. d.

Q5. a.

b.

c.

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d. Q6. a.

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Marks

forgery. What are the rights of Mr. A, B and C against the company with reference to the aforesaid shares ? b. A Co. got a cc limit from a bank and in lieu of that it gave its F.D. certificate as security. Form 8 not filed Advise. National Steel Limited decided to forfeit the amount of gratuity of its employees. A, B and C on account of disorderly conduct and other acts which cause loss to the property belonging to the company. A, B and C committed the following acts: (i) A refused to surrender the occupied land belonging to the company. (ii) B committed theft under law involves offence of moral turpitude. (iii) C, after superannuation, continued to occupy the quarter of the company for six months. Against the decision of the company, A, B and C applied to the court for relief. The company contented that the right too gratuity is not a statutory right and the forfeited amount of gratuity was within the law. Examine the contention of the company and the decision taken by the company to forfeit the amount of gratuity in the light of the Payment of Gratuity Act, 1972. d. Q7. a. b. Explain the concept of agency by ratification. Draft a lease deed.

c.

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A Company by special resolution declared that Rs. 50 out of each Rs. 100 share should be there serve Capital. The company then issued debentures charging its undertaking and property including its uncalled capital. Two years later, the company went into liquidation. The debenture holders claimed a first charge on the reserve capital. Is their claim justified? Give reasons referring to the provisions of the Companies Act, 1956. How can shareholders rights be varied? You are the company secretary of Virani Ltd. A director of the company, holding only ten equity shares of Rs. 10 each of the Co. representing his qualification shares visits your office and wants to inspect the minutes of the Co. for the general meetings including the minutes of the last extraordinary general meeting held 27 days earlier. He desires to take a copy of the minutes against item 3 of the agenda for the extraordinary general meeting. How would you deal with the situation ?

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c. d.

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