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essentials business law
Business Law 2nd Edition Tejpal Sheth - Solutions
Is it possible to convert a private company into a public company? Is so, how? (Ref. Para-18.13)
Write a short note on unlimited company. (Ref. Para-18.12)
What is a ‘Company Limited by shares’ and ‘Limited by guarantee’? (Ref. Para-18.11)
Distinguish between a private company and a public company. (Ref. Para-18.10)
Define the public company under the Companies Act, 2013. (Ref. Para-18.8)
Define a private company. How does it differ from a public company. (Ref. Para-18.9,18.10)
Can the shareholders claim the property of the company as their own property? (Ref. Para-18.7)
What is an ‘Illegal Association’? What are the effects of illegal associations? (Ref. Para-18.5,18.6)
A company has a separate legal entity, different from its members.Under what circumstances can this be lifted under the Companies Act? (Ref. Para-18.4)
Explain clearly the concept of ‘perpetual succession’ and ‘common seal’, in relation to a company incorporated under the Companies Act, 2013. (Ref. Para-18.2)
Explain the characteristics of a company, in regards to limited liability and separate property. (Ref. Para-18.2)
A company on incorporation becomes a separate legal entity. Explain with a leading decided case.
Define a company and explain its characteristics as regards to perpetual succession. (Ref. Para-18.1,18.2)
No licence shall be suspended by controller for period exceed than days.(i) 10 (iii) 30(ii) 15 (iv) 45
Controller may revoke a licence on ground of information contained in application.(i) False (iii) Both (i) and (ii)(ii) Incorrect (iv) None of above
The controller shall publish notice of of licence in the database maintained by him.(i) Suspension (iii) Both (i) and (ii)(ii) Revocation (iv) None of above
An application for licence to issue electronic signature certificates is made along with which document?(i) Certificate of practice. (iii) Driving licence.(ii) PAN. (iv) Electricity bill.
Certifying authority can be appointed by(i) The Central Government. (iii) A Certifying authority.(ii) A State Government. (iv) The Controller.
Digital signature cannot be suspended for period exceeding days.(i) 15 (iii) 45(ii) 30 (iv) 60
Digital signature can be issued by(i) The Central Government. (iii) A Certifying Authority.(ii) A State Government. (iv) The Controller.
Digital signature can be suspended by(i) The Central Government. (iii) A Certifying authority.(ii) A State Government. (iv) The Controller.
Digital signature can be suspended by the certifying authority in case of(i) Public interest. (iii) Interest of user.(ii) Interest of any person. (iv) Both (i) and (ii).
is an offences under the Information Technology Act.(i) Sending offensive message (iii) Video conference(ii) Stealling information (iv) both (i) and (ii)
An appeal can be made to high court against the order of appellate tribunal within days.(i) 30 (iii) 60(ii) 45 (iv) 90
An appeal can be made to against the order of an appellate tribunal.(i) A Magistrate Court (iii) The Supreme Court(ii) A High Court (iv) Both (i) and (ii)
issue digital certificate.(i) The Certificate Authority (iii) The Central Government(ii) The State Government (iv) NASCOM
provides legal recognition for electronic records.(i) The Indian Contract Act (iii) The Evidence Act(ii) The Companies Act (iv) The Information Technology Act
What are the benefits of electronic governance?(i) Low cost(ii) Efficient working of government(iii) Transparency in working of government(iv) All of the above
Electronic Governance means and includes(i) Filing any form online. (iii) Make application online.(ii) Filing any form offline. (iv) Both (i) and (iii).
is the unique value for message or content.(i) Hash (iii) Encryption(ii) Message digest (iv) Private key
By using any one can verify digital signature.(i) Public key (iii) Both (i) and (ii)(ii) Private key (iv) Pass key
Key pair includes(i) Public key. (iii) Both (i) and (ii).(ii) Private key. (iv) Pass key.
is the key of the key pair used to verify digital signature.(i) Public key (iii) Both (i) and (ii)(ii) Private key (iv) Pass key
is the key of the key pair used to creating digital signature.(i) Public key (iii) Both (i) and (ii)(ii) Private key (iv) Pass key
Out of following, which are the objectives of Information Technology Act?(i) To recognize e-commerce transactions. (iii) To pay stamp duty online.(ii) To allow chat between persons. (iv) Both (i) and (iii).
Out of following, which are the objectives of Information Technology Act?(i) To facilitate the electronic filing of documents.(ii) To facilitate electronic storage of data.(iii) To facilitate online crime investigation.(iv) None of the above.
Out of the following, which are the objectives of the Information Technology Act?(i) To give legal recognization to digital signatures.(ii) To eliminate signatures.(iii) Both (i) and (ii).(iv) None of the above.
Out of the following, which are the objectives of the Information Technology Act?(i) To give legal recognization of e-commerce transactions.(ii) To facilitate electronic storage of data.(iii) Both (i) and (ii).(iv) None of the above.
The Information Technology Act consists of sections.(i) 90 (iii) 100(ii) 99 (iv) 94
The Information Technology Act consists of chapters.(i) 12 (iii) 14(ii) 13 (iv) 15
The Information Technology Act is not applicable to(i) Will. (iii) Bills of exchange.(ii) Cheque. (iv) All of the above.
The Information Technology Act is not applicable to(i) Whole of India.(ii) Whole of India except state of Jammu and Kashmir.(iii) Power of attorney.(iv) None of the above.
The Information Technology Act is popularly known as(i) Cyber law. (iii) Electronic law.(ii) Hacking law. (iv) Security law.
Explain the various issues covered and not covered in IT Act.
What are the powers of Central Government to make rules under the act? (Ref. Para-17.15)
What are the duties of a sub scriber? (Ref. Para-17.14)
Explain the duties of the certifying authorities. (Ref. Para-17.13)
Explain the duties of the controller of certifying authorities (Ref. Para-17.12)
Explain the liabilities of companies in the Information Technology Act. (Ref. Para-17.11)
Which activities can be considered as offences under the Information Technology Act and what are the penalties thereof in IT Act? (Ref. Para-17.9,17.10)
Write a short note on the Cyber Appellate Tribunal. (Ref. Para-17.8)
Write a short notes on digital signature certificate. (Ref. Para-17.7)
What is e-governance? Explain the various provisions for e-governance in Chapter-3 of IT Act. (Ref. Para-17.6)
What do you understand by the term ‘hash function?’ (Ref. Para-17.5)
What is digital signature? How is it used for the authentication of electronic record?
Explain the computer, computer network and computer system under the Information Technology Act. (Ref. Para-17.4)
What is the scope of Information Technology Act and describe various relevant definitions in it. (Ref. Para-17.3,17.4)
What are the objectives of the Information Technology Act, 2000. (Ref. Para-17.2)
What is Cyber Law? (Ref. Para-17.1)
An application for compounding of an offence shall be made by compounding authority in days.(i) 15 (iii) 60(ii) 30 (iv) 180
Capital account transaction means(i) acquisition or transfer of immovable property in India by person resident outside India.(ii) export, import or holding of currency of currency note.(iii) either (i) or (ii).(iv) neither (i) nor (ii).
Capital account transaction means(i) any borrowing or lending in Foreign Exchange.(ii) deposit between persons resident in India and persons resident outside India.(iii) both (i) and (ii).(iv) neither (i) nor (ii).
Capital account transaction means(i) transfer or issue of any foreign security by a person resident in India.(ii) transfer or issue of any security by a person resident outside India.(iii) both (i) and (ii).(iv) neither (i) nor (ii).
Which of the following activities are permitted by the RBI for a company engaged in manufacturing and trading activities aboard to set up branch office in India?(i) To undertake export and import trading work. (iii) Both (i) and (ii).(ii) To represent the parent company. (iv) Neither (i) nor (ii).
Which of the following activities are permitted by the RBI for a company engaged in manufacturing and trading activities aboard to set up branch office in India?(i) To conduct research work. (iii) Both (i) and (ii).(ii) To render professional or consultancy work. (iv) Neither (i) nor (ii).
Out of following, which are the current account transactions?(i) Release of Foreign Exchange for business travel.(ii) Release of Foreign Exchange for meeting expenses for medical treatment abroad.(iii) Both (i) and (ii).(iv) Neither (i) nor (ii).
Out of following, which are the current account transactions?(i) Gift remittance. (iii) Either (i) or (ii).(ii) Release of exchange for studies abroad. (iv) Neither (i) nor (ii).
Release of exchange exceeding US $10,000 or its equivalent in one financial year for one or more private visits to any country is allowed with permission of(i) Central Government. (iii) RBI.(ii) State Government. (iv) authorized dealer.
Remittance exceeding 10,00,000 per project for any consultancy services in respect of consultancy project from outside India is allowed with permission of(i) Central Government. (iii) RBI.(ii) State Government. (iv) authorized dealer.
Remittance under technical coloration agreements for payment of royalty is allowed upto% on export sales.(i) 5 (iii) 3(ii) 8 (iv) 1
Remittance under technical coloration agreements for payment of royalty is allowed upto% on local sales.(i) 5 (iii) 3(ii) 8 (iv) 1
Out of the following transactions for which drawals of Foreign Exchange is prohibited?(i) Remittance for purchase of lottery tickets.(ii) Remittance for purchase of banned magazine.(iii) Payment for travel to Nepal(iv) All of the above.
Out of the following transactions, for which drawals of Foreign Exchange is prohibited?(i) Remittance out of lottery winning. (iii) Both (i) and (ii).(ii) Remittance of income from racing. (iv) Neither (i) nor (ii).
Gift remittance upto per financial year per remitter or donor other than resident individual is permissible without approval of any authority.(i) US $5000 (iii) ` 5000(ii) US $2000 (iv) ` 25,000
Gift remittance exceeding US $5000 per financial year per remitter or donor other than resident individual is permissible with approval of(i) Central Government. (iii) authorized dealer.(ii) RBI. (iv) none of the above.
Remittance under technical collaboration agreements where payment is in form of royalty is transaction.(i) general account (iii) capital account(ii) current account (iv) business
Which bank account(s) can be opened by NRI/Foreign National in India maintained in designated foreign currency?(i) FCNR (iii) NRO(ii) NRE (iv) Any one of the above
Which bank account(s) can be opened by NRI/Foreign National in India?(i) FCNR (iii) NRO(ii) NRE (iv) Any one of the above
Application for permission to extend the period for realization of export period should be made to(i) RBI.(ii) Central Government.(iii) authorized dealer.(iv) any one of the above.
As per the FEMA, foreign security means(i) stock certificate expressed in Indian rupee.(ii) debenture expressed in foreign currency.(iii) debenture expressed in foreign currency but redemption will take place in Indian currency.(iv) all of the above.
As per the FEMA, foreign security means(i) shares expressed in foreign currency and dividend is payable in Indian currency.(ii) bonds denominated in foreign currency.(iii) bonds denominated in foreign currency and redemption will take place in Indian currency.(iv) all of the above.
As per the FEMA, foreign security means(i) shares denominated in foreign currency.(ii) debenture denominated in foreign currency.(iii) bonds denominated in foreign currency.(iv) all of the above.
As per the FEMA, Foreign Exchange means(i) draft, cheque, bill of exchange drawn in Indian rupee and payable in Indian rupee.(ii) draft, cheque, bill of exchange drawn by person outside Indian but payable in Indian currency.(iii) either (i) or (ii).(iv) none of the above.
As per the FEMA, Foreign Exchange means(i) draft, cheque, bill of exchange drawn in Indian currency but payable in foreign currency.(ii) draft, cheque, bill of exchange drawn in Indian currency but payable in Indian currency.(iii) either (i) or (ii).(iv) both (i) and (ii).
As per the FEMA, Foreign Exchange means(i) foreign currency. (iii) either (i) or (ii).(ii) balance payable in any foreign currency. (iv) both (i) and (ii).
As per the FEMA, currency includes all(i) credit cards. (iii) debit cards.(ii) ATM cards. (iv) all of the above.
As per the FEMA, currency includes all(i) travellers’ cheque. (iii) both (i) and (ii).(ii) letter of credit. (iv) neither (i) nor (ii).
As per the FEMA, currency includes all(i) money order. (iii) both (i) and (ii).(ii) cheque and draft. (iv) none of the above.
As per the FEMA, currency includes all(i) currency notes. (iii) postal order.(ii) postal notes. (iv) all of the above.
Residential status of a person is determined, based upon his stay in(i) preceding financial year. (iii) current financial year.(ii) previous accounting year. (iv) current accounting year.
A person resident in India means a person who stayed in India for more than during the course of preceding year.(i) 180 days (iii) 365 days(ii) 260 days (iv) 182 days
An individual can now open account in can remit upto per calendar year for the purchase of immovable assets and shares abroad.(i) Foreign Bank, US $25,000 (iii) Indian Bank, US $1,00,000(ii) Indian Bank, US $25,000 (iv) Foreign Bank, US $1,00,000
Foreign Exchange Management Act provides for(i) control over realization of export proceeds.(ii) dealing in Foreign Exchange through authorized person.(iii) either (i) or (ii).(iv) both (i) and (ii).
Foreign Exchange Management Act provides for(i) free transactions on current account subject to reasonable restrictions.(ii) The RBI control over capital account transactions.(iii) either (i) or (ii).(iv) both (i) and (ii).
Explain about the liberalized remittance scheme for the resident individual.
Explain the provisions relating to the compounding of offence under the act? (Ref. Para-16.17)
What are the penalties provided under the FEMA for the contravention of provisions of Act? (Ref. Para-16.16)
Explain the meaning of the term ‘adjudicating authority’ under the FEMA. (Ref. Para-16.16)
What are the provisions relating to realization and repatriation of Foreign Exchange? (Ref. Para-16.14)
What are the provisions in respect of possession and retention of foreign currency? (Ref. Para-16.13)
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