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Sunday, November 11, 2012

business mgt. 2

--What is a pre-incorporation contract?
What is known as preliminary.
If the AGM of a meeting held on a particular date,on that date all the shareholders present in the meeting died on the spot.
Can the company remain in existence?
Yes.
What is the maximum limit of members in a private limited company?  50
AGM can it be held on a public holiday?
NO.
How many members must sign the Memorandum of Association of a public ltd. company?
seven (7)
What does Limited liability  mean?
The owners of a business are not liable for the debts
Who are called the Promoters?
People who conceive the idea of business.
Is it true that the company works under a common seal and has a perpetual succession?
yes.
If the company does not follow the principle of separate legal entity  what can be done?
 the corporate veil can be lifted.
What must be the total managerial remuneration in a public ltd. co?
11 percent.
What  is first step for formation of a company?
Promotion.
This kind of company enjoys the number of privileges?
Which one?  The private Ltd. company.
Can any corporate body or association be appointed as  director of a company?
NO No No.
Can an increase take place  beyond the maximum number of 
directors permitted  in the articles of assn. of the company?
yes. by the Central Govt.
How many months gap is allowed between two Annual general meetings?
15 months.
Which section describes the disqualification of a director?
Section 274
Where can you find the first directors of the company?
In the articles of the company.
Who is an alternate director?
a director appointed  in the place of the original  director in case of his absence.
Who can fill up the casual vacancy?
the board. of board of directors.
How can the director be removed?
by the shareholders/ by the central govt./  by company law board/
From which language the word company has been derived?
Latin./ com means with or together Panis means bread.
 persons jointly taking meals together.
which section defines a Govt. company? section 617
What does it state?any company 's shares 51 percent  of the paid up capital is held  by  Central/ State / govt or governments is called a Govt. company.
There  is no legal formality to start a company? Wrong and False . and not true.
Can a company die with  the death of a shareholder?
No, not at all.
Do the shareholders of a company have a limited liability?yes.
Can a company own property on its own  name?
yes.
How  is  the company managed?
by the elected representatives  of the shareholders.(directors)
Which are the three basic types of companies which may be regd. under companies act 1956?
Private companies/public companies/ producer companies
What is a producer company?

What are the three distinct stages in the company formation?
Promotion/ incorporation by registration/ commencement of the business.
What is vetting?
it is a process of examining carefully the contents of all related documents from the legal point of view.

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