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Fiscal Deficit

Central Gover...

Question

Central Government has prescribed that public companies with paid up share capital of____;or turnover of_; or in aggregate, outstanding loans/ borrowings/ debentures/ deposits exceeding as on the last date of latest audited financial statements mentioned below shall have at least__independent directors.

A

Rs. 1 crore or more; Rs. 10 crore or more; Rs. 50 crore or more; 2 directors

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B

Rs. 10 crore or more; Rs. 100 crore or more; Rs. 50 crore or more; 2 directors

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C

Rs. 20 crore or more; Rs. 150 crore or more; Rs. 100 crore or more; 3 directors

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D

Rs. 100 crore or more; Rs. 1,000 crore or more; Rs. 500 crore or more; 3 directors

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Solution

The correct option is A Rs. 10 crore or more; Rs. 100 crore or more; Rs. 50 crore or more; 2 directors
Under rule 4 of Companies (Appointment and Qualifications of Directors) Rules, 2014, Central Government has prescribed that public companies with paid up share capital of Rs 10 crore or more; or turnover of Rs 100 crore or more; or in aggregate, outstanding loans/ borrowings/ debentures/ deposits exceeding Rs 50 crores as on the last date of latest audited financial statements mentioned below shall have at least two independent directors

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Q. Which of the following companies must appoint woman director?
(I) Listed company
(II) Public company having paid up share capital of Rs.100 Crores or more
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Q. Which of the following companies are required to do secretarial audit as per Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014?
(I) Every public company having a borrowing of Rs. 100 crore or more
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Q. Appointment of Company Secretary in mandatory in__.
(a) Every listed company
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Q. Appointment of Company Secretary is mandatory in -
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Q. Which of the following conditions are required to be fulfilled by private company in order to treat it as Small Company under Section 2(85) of the Companies Act, 2013?
(I) Paid up share capital does not exceed Rs 50 lakhs or such higher amount as may be prescribed which shall not be more than Rs 100 Crores.
(II) Its borrowing as per latest audited balance sheet does not exceed Rs 20 Crores or such higher amount as may be prescribed which shall not be more than Rs 50 Crores.
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