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Minimum number of members to form a private company is
(a) 2
(b) 3
(c) 5
(d) 7
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Minimum number of members to form a public company is
(a) 5
(b) 7
(c) 12
(d) 21
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Application for approval of name of a company is to be made to
(a) SEBI
(b) Registrar of Companies
(c) Government of India
(d) Government of the State in which company is to be registered
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A proposed name of company is considered undesirable if
(a) it is identical with the name of an existing company
(b) it resembles closely with the name of an existing company
(c) it is an emblem of Government of India, United Nations etc
(d) in case of any of the above
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A prospectus is issued by
(a) a private company
(b) a public company seeking investment from public
(c) a public enterprise
(d) a public company
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Stages in the formation of a public company are in the following order
(a) Promotion, Commencement of Business, Incorporation, Capital Subscription
(b) Incorporation, Capital Subscription, Commencement of Business, Promotion
(c) Promotion, Incorporation, Capital Subscription, Commencement of Business
(d) Capital Subscription, Promotion, Incorporation, Commencement of Business
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Preliminary Contracts are signed
(a) before the incorporation
(b) after incorporation but before capital subscription
(c) after incorporation but before commencement of business
(d) after commencement of business
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Preliminary Contracts are
(a) binding on the company
(b) binding on the company, if ratified after incorporation
(c) binding on the company, after incorporation
(d) not binding on the company
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It is necessary to get every company incorporated, whether private or public.
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Statement in lieu of prospectus can be filed by a public company going for a public issue.
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A private company can commence business after incorporation.
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Experts who help promoters in the promotion of a company are also called promoters.
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A company can ratify preliminary contracts after incorporation.
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If a company is registered on the basis of fictitious names, its incorporation is invalid.
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'Articles of Association' is the main document of a company.
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Every company must file 'Articles of Association'.
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A provisional contract is signed by promoters before the incorporation of the company.
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If a company suffers heavy issues and its assets are not enough to pay off its liabilities, the balance can be recovered from the private assets of its members.
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Name the stages in the formation of a company.
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List the documents required for the incorporation of a company.
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What is a prospectus? Is it necessary for every company to file a prospectus?
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Explain the term, 'Minimum Subscription'.
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Briefly explain the term 'Return of Allotment'.
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At which stage in the formation of a company does it interact with SEBI.
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Distinguish between 'preliminary contracts' and 'provisional contracts'.
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What is meant by the term ‘Promotion’? Discuss the legal position of promoters with respect to a company promoted by them.
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Explain the steps taken by promoters in the promotion of a company.
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What is a 'Memorandum of Association'? Briefly explain its clauses.
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Distinguish between 'Memorandum of Association' and 'Articles of Association.'
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What is the effect of conclusiveness of the 'Certificates of Incorporation' and 'Commencement of Business'?
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Is it necessary for a public company to get its share listed on a stock exchange? What happens if a public company going for a public issue fails to apply to a stock exchange for permission to deal in its securities or fails to get such permission?
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