| Q.1 |
What are the advantages & disadvantages
of a corporate entity ? |
| A.1 |
Advantages:
1. Limited Liablility.
2. Perpetual Succession.
3. Transferability of Shares.
4. Commercial Standing
5. Right to Own Property.
6. Separation of management from ownership.
Disadvantages:
1. Formalities & Disclosures.
2. Taxation.
3. Winding Up.
|
| Q.2 |
What are the different types of companies ? |
| A.2 |
Companies are broadly classified into two types i.e. Private
Companies & Public Companies. |
| Q.3 |
What is the Minimum Paid Up Share Capital required for incorporating
a company? |
| A.3 |
Private Limited Company : Rs. 1 Lakh.
Public Limited Company : Rs. 5 Lakhs. |
| Q.4 |
How many meeting of Board of Directors be conducted in a
year? |
| A.4 |
Minimum four meetings should be conducted with one meeting in every
quarter with no limit for maximum number of meetings to be conducted
in a year. |
| Q.5 |
What is meant by Annual General Meeting? |
| A.5 |
Annual General Meeting as the name suggests is the General Meeting
of members of the company held once in a year to transact business
such as adoption of accounts, Directors' and Auditors' Report, declaration
of a dividend, appointment of directors in place of those retiring,
appointment of auditors, etc. |
| Q.6 |
When should a company appoint a Whole Time Company Secretary
and when is it necessary to obtain a compliance certificate from a
Company secretary? |
| A.6 |
A company is required to obtain a Compliance Certificate from a
Company secretary when its paid up capital is More than Rs.10 Lakhs
but less than Rs.2 crores. Whereas whole time Company Secretary is
to appointed when the Paid up capital of he company is more than Rs.2
crores. |
| Q.7 |
What are the common registers that a company is required
to maintain? |
| A.7 |
Following Books/Registers are required to be maintained by Pvt.
Co.
- Minutes Book of Board of Directors Meeting
- Minutes Book of General Meeting
- Register of Charges.
- Register of Members
- Fixed Asset Register
- Share Application and Allotment Book
- Register of Share Transfer
- Copies of Annual Returns
- Register of Contracts, Companies and Firms in which the directors,
relatives of the directors of the Company are interested.
- Register of Directors, Managers & Secretary
- Register of Director's Share holdings.
- Registers of Loans made to Companies under the same management.
- Register of Deposits.
- Register of all Investments and loans made, guarantee given
or security provided to any body/bodies corporate (whether in
same group or not).
|
| Q.8 |
Can ROC filing fees be paid in cash? |
| A.8 |
Yes. ROC filing fees can be paid in cash only upto Rs. 1000/-
and for any fees above Rs. 1000/- has to be paid by way of Demand
Draft drawn in favour of Registrar of Companies,_____________(Giving
the name of the state in which the company is registered). |
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