FINAL LEVEL QUIZ 🏆
ABC Ltd. lends ₹2 Cr to a private company in which its director is also a member. The Board argues Sec 186 applies (loan limit check), not Sec 185. Correct?
ABC Ltd. lends ₹2 Cr to a private company in which its director is also a member. The Board argues Sec 186 applies (loan limit check), not Sec 185. Correct?
Anonymous Quiz
30%
Yes, only Sec 186 applies to companies
51%
No, Sec 185 bars loans to entities where directors are interested
18%
Yes, if loan within 60% net worth or SR approved
1%
No, unless loan at market interest
❤1
PROFESSIONAL LEVEL QUIZ 🏆
XYZ Ltd. proposes to invest 80% of free reserves in shares of its subsidiary. No SR is passed. Is this valid under Sec 186?
XYZ Ltd. proposes to invest 80% of free reserves in shares of its subsidiary. No SR is passed. Is this valid under Sec 186?
Anonymous Quiz
31%
Yes, exemption for wholly-owned subsidiaries
46%
No, any excess over 60% net worth/reserves needs SR
23%
Yes, if board approves with 75% majority
0%
No, unless approved by NCLT
❤1
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FOUNDATION LEVEL QUIZ 🏆
The bidder at an auction sale can withdraw his bid
The bidder at an auction sale can withdraw his bid
Anonymous Quiz
13%
(a) any time during auction.
66%
(b) before fall of hammer.
16%
(c) before payment of price.
5%
(d) none of these.
❤1
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CSEET LEVEL QUIZ 🏆
If A says to B "I offer to sell my house to you for 40,00,000" and B accepts the offer by saying clearly "I accept your offer", it is a/an
If A says to B "I offer to sell my house to you for 40,00,000" and B accepts the offer by saying clearly "I accept your offer", it is a/an
Anonymous Quiz
13%
(a) Implied offer
62%
(b) Express offer
14%
(c) General offer
10%
(d) None of the above
❤1
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INTER LEVEL QUIZ
Auditor provides internal audit services via LLP where his brother is a designated partner. This violates—
Auditor provides internal audit services via LLP where his brother is a designated partner. This violates—
Anonymous Quiz
31%
a) Sec 141(3)(c)
46%
b) Sec 144 – indirect disqualification
12%
c) NFRA Rule 5
11%
d) No violation if brother is not active
❤1
Forwarded from Divya Agarwal Mam (AIR 3)
EXECUTIVE LEVEL QUIZ
Auditor continues despite ₹2.5 lakh loan from company to his minor daughter’s account. As per ICSI and Sec 141, status is—
Auditor continues despite ₹2.5 lakh loan from company to his minor daughter’s account. As per ICSI and Sec 141, status is—
Anonymous Quiz
20%
a) Allowed under minor clause
33%
b) Allowed with Board resolution
42%
c) Firm disqualified – indirect interest
5%
d) No issue until AGM
❤1
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FINAL LEVEL QUIZ 🏆
Mr. A is an ID on the Audit Committees of 7 listed companies. He’s invited to join 2 more. Is this compliant?
Mr. A is an ID on the Audit Committees of 7 listed companies. He’s invited to join 2 more. Is this compliant?
Anonymous Quiz
24%
Yes, no cap under Co. Act
51%
No, max 5 Audit Committees under SEBI
13%
Yes, if he’s not chairing any
13%
No, max 3 committees including NRC
❤1
PROFESSIONAL LEVEL QUIZ 🏆
A whistleblower directly reports fraud to the statutory auditor. The Board bypasses the Audit Committee. Is this compliant?
A whistleblower directly reports fraud to the statutory auditor. The Board bypasses the Audit Committee. Is this compliant?
Anonymous Quiz
22%
Yes, Board can act independently
60%
No, Audit Committee must review all fraud
14%
Yes, if under ₹10 lakh
4%
No, only vigil officer can handle this
❤1
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