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Question
Select the correct answer from the options given below and rewrite the statement:
___________ are the persons who undertake the process of formation of a company.
Options
Promoters
Directors
Registrar of companies
Solution
Promoters are the persons who undertake the process of formation of a company.
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'Articles of association' is the main document of a 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.
Match the pairs.
| Group ‘A’ | Group ‘B’ |
| a) Minimum 7 members | 1. Persons who conceive the idea of setting up a company |
| b) DIN | 2. Public company |
| c) Preliminary contracts | 3. Promoters |
| d) Fiduciary duties towards the company | 4. Eight Digit alphanumeric number |
| e) CIN | 5. Private company |
| 6. Unique number assigned to each Director | |
| 7. ROC | |
| 8. 21 digit alphanumeric code number | |
| 9. One Person Company | |
| 10. Contracts entered by Promoters with third parties |
Write a word or a term or a phrase which can substitute the following statement.
Term which means registering a company as per provisions of Companies Act, 2013
Write a word or a term or a phrase which can substitute the following statement.
Persons who undertake the necessary steps to set up a company.
Write a word or a term or a phrase which can substitute the following statement.
Term which refers to contracts entered into by Promoters with third parties on behalf of the proposed company;
State whether the following statement is True or False.
To form a Public company, there must be minimum 2 persons/promoters.
State whether the following statement is True or False.
Promoters are persons who take the necessary steps to set up a company.
State whether the following statement is True or False.
In India, companies have to be incorporated as per the provisions of Companies Act, 2013.
State whether the following statement is True or False.
DSC is needed by Directors when they have to sign documents for e-filing.
State whether the following statement is True or False.
A company can be registered even without submitting Memorandum of Association and Articles of Association.
State whether the following statement is True or False.
ROC issues CIN only to certain companies.
State whether the following statement is True or False.
All companies need Certificate of Incorporation.
State whether the following statement is True or False.
All companies need Certificate of Commencement of business.
Find the odd one.
Select the correct option form the given option:
|
Group A |
Group B |
|
___________ |
Certificate of incorporation |
Select the correct option form the given option:
|
Group A |
Group B |
|
RUN is used for |
_______ |
Study the following case/situation and express your opinion.
| Sagar company limited got its Certificate of Incorporation on 1st Sept. 2018. The application for Incorporation was submitted on 16th Aug. 2018. There were 10 promoters who took the steps to incorporate the company. |
- State the date on which Sagar company limited came into existence legally.
- On which date will the company get its Corporate Identity Number?
- How many minimum promoters are needed for incorporating a public company?
