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rchgiri

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First topic message reminder :

Dear Friends,

This article is specially dedicated to the "CS Professional Old Syllabus CRI Questions & Answers >> Correct or Incorrect".

I hope and wish it will be useful to all the readers.



Last edited by rchgiri on Fri 1 Nov 2013 - 16:49; edited 2 times in total


rchgiri

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CSoC King
State whether the following statements are correct or incorrect.

(i) the scheme of arrangement is to be passed at a meeting with the support of majority in number and three-fourths in value of those present and voting. The creditors or members who are present at the meeting but remain neutral or abstain from voting will be counted in ascertaining the majority in number or value.

(ii) A person who is a transferee of certain shares (yet to be registered) can seek to modify a scheme of arrangement of the company concerned approved by the court.

(iii) A private limited company can amalgamate with a public limited company within few days after its incorporation.

(iv) Court has power to disapprove the scheme of arrangement on the grounds of mismanagement of affairs of the company and withholding of material information from the shareholders and creditors.

(v) Court can modify the scheme of arrangement filed before it on its own.

(vi) Section 394 does not cast an obligation on the 17 court to satisfy the presence of ‘public interest’ if the scheme is duly approved by the shareholders and creditors of the companies concerned.

rchgiri

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CSoC King
Answers to the above posting:

(i) Incorrect

(ii) Correct

(iii) Correct

(iv) Correct

(v) Incorrect

(vi) Incorrect

rchgiri

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CSoC King
State whether the following statements are correct or incorrect.

(i) A company seeking amalgamation with another company, passed a resolution under section 391(2), as per direction of the court and did not file the same with the Registrar of Companies under section 192, on the plea that it is neither an ordinary nor a special resolution but an extraordinary resolution.

(ii) A company called a meeting of members of the company under direction of the court for amalgamation with another company and excluded the proxies for the purpose of counting quorum.

(iii) The date of agreement made by the merchant banker with the acquirer is treated as ‘deemed date of offer’ for the purpose of acquisition of shares and/or control in the target company.

(iv) The order sanctioning the scheme of amalgamation made by the court should be filed with the Registrar of Companies. If the order is not filed with the Registrar of Companies, it will not have any effect.

(v) Every notice of any meeting called as per orders of court under section 391 shall not include explanatory statement.

rchgiri

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CSoC King
CSoC King
Answers to the above posting:

(i) Correct

(ii) Incorrect

(iii) Incorrect

(iv) Correct

(v) Incorrect

rchgiri

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CSoC King
State whether the following statements are correct or incorrect.

(i) Provisions of the Specific Relief Act, 1963 override the provisions of sections 391 and 392.

(ii) A scheme, apparently made to merge the profit making company with a loss making company and to take tax advantage, is a valid scheme.

(iii) Amalgamation between two banking companies is governed solely by the Companies Act, 1956.

(iv) The transferee company after effecting merger is able to charge to profit and loss account the expenditure incurred wholly and exclusively for the purposes of amalgamation.

(v) Persons acting in concert (PAC) are individuals/company(ies)/any other legal entities who are acting together for an uncommon objective.

(vi) Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, it is a voluntary requirement to appoint a merchant banker for acquisition of shares.

(vii) The shares of a target company are deemed as ‘frequently traded’ for pricing purpose if the traded turnover on any stock exchange during the twelve calendar months preceding the calendar month in which the public announcement is made, is at least ten per cent of the total number of shares of such class of the target company:

Provided that where the share capital of a particular class of shares of the target company is not identical throughout such period, the weighted average number of total shares of such class of the target company shall represent the total number of shares;



Last edited by rchgiri on Fri 1 Nov 2013 - 17:21; edited 1 time in total

rchgiri

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CSoC King
CSoC King
Answers to the above posting:

(i) Incorrect

(ii) Correct

(iii) Incorrect

(iv) Incorrect

(v) Incorrect

(vi) Incorrect

(vii) Correct

32 CS PP OS June 2015 Exam Question 1 on Sun 13 Dec 2015 - 20:25

rchgiri

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CSoC King
CSoC King

CS PP OS June 2015 Exam

Question 1
(a) State with reasons in brief, whether the following statements are true or false.

(i) Companies can raise entire funds for any scheme of merger or takeover through employee stock option scheme.

(ii) BIFR can make distinctive provisions in a scheme of rehabilitation of a sick company through reverse merger.

(iii) Since surrender of shares is the initiative of a member or shareholder, it will be binding on the company whenever it is exercised by the member/ shareholder.

(iv) Slump sale is more tax efficient in comparison to demerger.

(v) Free cash flow is a financial tool mainly used in valuation of securities.

33 CS PP OS June 2015 Exam Answer 1(a) on Sun 13 Dec 2015 - 20:28

rchgiri

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CSoC King
CSoC King


CS PP OS June 2015 Exam Answer 1(a)

(i) False

(ii) True

(iii) False

(iv) False

(v) False

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