List – I List – II i. Directors with unlimited liability a. Section 202 and 203 of the Companies Act ii. Prevention of management of a company by undesirable persons. b. Section 312 of the Companies Act. iii. A director cannot assign his office in favour of any one else. c. Section 322 and 323 of the Companies Act. iv. Appointment to a place of profit under the company. d. Section 314 of the Companies Act
Codes :
Companies Act Director Sections Matching Solution
This question requires matching specific provisions related to directors ('List – I') with their corresponding sections in the Companies Act ('List – II'). We will break down each match based on the correct option provided.
Match i: Directors with Unlimited Liability
Item i refers to 'Directors with unlimited liability'. This concept is directly addressed in Section 322 and 323 of the Companies Act. Therefore, i matches with c.
Match ii: Prevention of Undesirable Management
Item ii concerns the 'Prevention of management of a company by undesirable persons'. Provisions aimed at disqualifying or restricting certain individuals from managing a company are found in Section 202 and 203. Thus, ii matches with a.
Match iii: Director Cannot Assign Office
Item iii states 'A director cannot assign his office in favour of any one else'. This principle, prohibiting the assignment of a director's office, is covered under Section 312 of the Companies Act. Hence, iii matches with b.
Match iv: Appointment to Place of Profit
Item iv deals with 'Appointment to a place of profit under the company'. Directors accepting such positions often require specific disclosures or approvals as outlined in Section 314. Therefore, iv matches with d.
Final Code Selection
Based on the individual matches:
- i - c
- ii - a
- iii - b
- iv - d
This corresponds to the code i-c, ii-a, iii-b, iv-d.
Important Questions from Company law
- The problem of double taxation in international transactions can be reduced by:
i. Market agreement
ii. Multilateral agreement
iii. Bilateral agreement.
iv. Trade agreement - Under the Companies Act 2013, which of the following company is required to constitute a Corporate Cocial Responsibility Committee?
(a) company having networth of Rs. 500 crore or more
(b) company having turnover of Rs. 1000 crore or more
(c) company having net profit of 5 crore or more
(d) company having net profit of 2 crore or more during any financial year
Choose the most appropriate option : - Which one statement is correct from the following statements ?
- Which of the following statement (s) is/are incorrect? Answer using codes given below :
(a) In Attorney General v. Great Eastern Railway Co. the House of Lords observed that the doctrine of ultra vires as it was explained in the Ashbury case, should not be maintained.
(b) Section 13 (i) (c) of the Companies Act provides incidental objects which need not be stated in the memorandum.
(c) If incidental objects are not stated in the memorandum, they would not be allowed by the principle of reasonable construction
(d) The doctrine of indoor management operates to protect insiders against the company
Codes : - Read Assertion (A) and Reason (R) and answer using the codes given below :
Assertion (A): Shareholders are not, in the eye of law, part owners of a company. The company is something different from the totality of the shareholders.
Reason (R) : Shareholders are collective owners of the company.
Codes :
