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SBEC 1

The document is a test on industrial and labor laws, covering various topics related to business setup, including company incorporation, registration requirements for non-banking financial companies, and regulations under the Companies Act. It includes multiple-choice questions, case studies, and open-ended questions that require detailed responses. The test aims to assess knowledge on legal implications, business forms, and compliance issues in the context of Indian business laws.

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12 views

SBEC 1

The document is a test on industrial and labor laws, covering various topics related to business setup, including company incorporation, registration requirements for non-banking financial companies, and regulations under the Companies Act. It includes multiple-choice questions, case studies, and open-ended questions that require detailed responses. The test aims to assess knowledge on legal implications, business forms, and compliance issues in the context of Indian business laws.

Uploaded by

corporatelawhouses
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SETTING UP OF BUSINESS

INDUSTRIAL AND LABOUR LAWS


TEST 1
MM-60

Choose the correct option:

1. All persons are eligible to incorporate Private Company?

(a) Yes

(b) No

(c) Only Body corporates

(d) Only Natural Persons.

2. What is the minimum Net Owned Funds required by NBFCs for registration with
RBI?

(a) 5 lakhs

(b) 30 lakhs

(c) 70 lakhs

(d) 20 lakh

3. According to Section 66 of the Factories Act, 1948 a woman shall not be allowed to work in any factory except
between the hours of -

(a) 6 A.M. and 7 P.M.

(b) 6 A.M. and 9 P.M.

(c) 8 A.M. and 9 P.M.

(d) 8 A.M. and 8 P.M.


Ff 4. Article 12 to 35 of the constitution pertained to:

(a) Directive Principle

(b) Fundamental Right

(c) Democratic Right

(d) Economic Right

5. Which of the following factors is not considered before choosing a business location outside India?

(a) Economic aspects

(b) Political aspects ( c) Social aspects

(d) External commercial borrowing


6.State the consequences of contravention of Section 8 (Non-Profit Organization) of the Companies Act, 2013.

(a) Penalty - For Company minimum 10 lacs but which may extend to 1 crore. For officer 25,000 to 25 Lacs or 3
yrs. of jail or both

(b) Revocation of license of Section 8 Company.

(c) Company will be wound up or amalgamated with other Section 8 Company

(d) All of the above

7. In the process of conversion of a private company into a public company which prospectus must be issued
(a) Deemed prospectus

(b) Shelf prospectus

(c) Statement in lieu of prospectus

(d) None of the above

8. Which city of India is ranked as the world's fastest moving start-up city

(a) Hyderabad

(b) Mumbai

(c) Gurugram

(d) Bangalore

9. M/S Shyam Ram Ltd. is Limited company having share capital wants to increase authorized share capital by
issuing fresh
shares, how company will alter its share capital as per Section 61 of the Companies Act, 2013?

(a) Alteration of share capital can be done only if AOA authorizes it.

(b) Alteration to be done by alteration of MOA in general meeting

(c) Ordinary resolution passed for such alteration

(d) All of the above

10. Helpline 'Udyami' is meant for:

(a)Micro, small, and medium enterprises

(b) Small capital industries

(c) Male entrepreneur


(d) New technology

11. Kumar is a proprietor of a small scale unit manufacturing cotton clothes. He wants to know the benefits of
registration with National Small Industries Corporation (NSIC). Advise Kumar. 4 marks

12. Choice of business locations outside India involves consideration of many factors. Comment.
4 marks

13. Harischander wants to start a manufacturing business but he is not able to decide on the form of business
(Type of Business Entity). He seeks your advice about the legal implications and requirements for the various
business forms in India on the basis of the following parameters:

(i) Registration
(ii) Member's liability

(iii) No. of members required

(iv) Taxation. 4 Marks

14. Mohan bequeaths certain property to Sohan, requesting him to distribute it amongst such members of Ajay's
family as Sohan should think most deserving. Does it create a trust? Give reasons.4 marks

15. Payments banks is a new model of banks conceptualized by the Reserve Bank of India.
Describe the key issues which require compliance by an applicant Company.
4 marks

16. Wonkar Club was formed as a Limited


Liability Company under Section 8 of the Companies Act, 2013 with the object of promoting Gilli Danda by
arranging introductory course at district level and friendly matches. The club has been earning surplus of late, the
affairs of the company are conducted fraudulently and dividend was paid to its members. A member decided to
make a complaint with Regulatory Authority to curb the fraudulent activities by cancelling the licence given to the
company.

(i) is there any provision under the Companies Act, 2013 to revoke the license? If so, state the provisions.

(i) Whether the Wonkar Club can be merged with Stick Private Limited, a company engaged in the business of
Networking? 5 Marks
17. Can the Right to Lay off be claimed as an inherent right by the employer?
5 Marks
18. What Penalties are imposed for appointment of Child & Adolescent Labour in The Child & Adolescent Labour
(Prohibition & Regulation) Act, 1986.
5 marks

19. Distinguish between Joint Venture and Special Purpose Vehicle. 5 marks

20. What penalty can be imposed on One Person Company or Officer of such company who contravenes the
provisions with respect to conversion of Private Company into One Person Company?
5 Marks
21. Start-ups India" initiative is used to promote growth and to help Indian economy by the Government of India.
Explain the benefits which are being given to entrepreneurs establishing start-ups.
5Marks

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