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Weekend MCQ Self Challenge #019 – Winding Up of Company as per Companies Act

 

Winding Up of Company as per Companies Act

 

Dear Professional Seniors & Friends,
Welcome to this wonderful weekend MCQ self-challenge!

This weekend challenge is on Winding Up of Company as per Companies Act having 5 MCQs to be self answered by participants to take self challenge. The detailed answer of these MCQs shall be posted on Monday for the self assessment of the participants. This post shall be of immense use of the participant.

Gazal Ltd has made a default in filing financial statements and annual returns for a continuous period of 4 financial years. With regard to the provisions of Winding up of Companies under Companies Act answer the following Questions:

MCQ 19.1: The Registrar of Company can approach the central government to accord sanction to present a petition to the tribunal if financial statements are defaulted for a period

A. Two consecutive years
B. Four consecutive years
C. Five Consecutive Years
D. Any Five years

MCQ 19.2: Who are the persons who can file petition for winding up of the company

A. Company & its Contributories
B. The Central Government or State Government
C. Registrar on his own acccount
D. Both A and B

MCQ 19.3: For the Registrar who wants to file a petition for winding of a company what are the Conditions to be fulfilled

A. Registrar need to take permission of CG
B. The Company needs to be given opportunity of being heard
C. Registrar can directly approach tribunal
D. Both A and B

MCQ 19.4: When a petition for winding up is made to tribunal , the tribunal shall pass its order within

A. 90 Days
B. 190 Days
C. 270 Days
D. 360 Days

MCQ 19.5: When petition for winding up has been filed before the tribunal In how many days should the Company file its objections and Statement of Affairs by an order of the Tribunal.

A. 15 days
B. 30 days
C. 45 days
D. 60 days

Sincere Regards

CA Sanjay Kumar Agrawal
Mobile: 9810116321

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Answer Weekend MCQ Self Challenge #019

 

Dear Professional Seniors & Friends,

 

Warm Greetings!

 

This post of MCQ is on the provisions relating to Winding up of company under Companies Act.

 

Answer MCQ 19.1: C) Five Consecutive Year

Answer MCQ 19.2: D) Both A and B

Answer MCQ 19.3: D) Both A and B

Answer MCQ 19.4: A) 90 Days

Answer MCQ 19.5: B) 30 Days

 

The Given problem relates to Section 271, 272, 273, 274 of the companies Act 2013.

 

Practical Analysis for MCQ 19.1:

 

  • As per section 271, a company may be ordered to be wounded up by the Tribunal on any of the Following grounds mentioned therein. One of Such ground as such is a s follows :-

 

Where a Company has made a default in filing with the Registrar its financial Statements or Annual Returns for immediately preceding 5 consecutive financial years.

 

Based on the above analysis, correct answer to MCQ19.1 : C)Five Consecutive Year.

 

Practical Analysis for MCQ 19.2:

 

  • Section 272 contains the provisions as to who can make a petition for winding up of a company . As per Section 272 , the following are the persons who can file a petition for winding up of the company
  • The Company
  • Any Contributory or Contributories
  • The Registrar with Approval Central Government and is given an opportunity of Being Heard
  • Central Government or State Government or any person authorized on their behalf

 

Based on the above analysis, correct answer to MCQ 19.2 : D)

 

Practical Analysis for MCQ 19.3:

 

  • As per Section 272, whenever registrar makes a petition for wind up of the Company under the Companies Act 2013, the Registrar shall obtain the previous approval of the Central Government and the Central government shall not give approval to the Registrar without giving Company an opportunity of being heard.

 

Based on the above analysis, correct answer to MCQ 19.3 : D) Both A and B

 

 Practical Analysis for MCQ 19.4:

 

  • As per Section 273, where a petition for winding up of the company has been made in the Tribunal, the tribunal shall pass its order with in 90 days from the datye of presentation of the petition.

 

Based on the above analysis, correct answer to MCQ 19.4 : A) 90 Days

 

Practical Analysis for MCQ 19.5:

 

  • As per Section 274 Where a petition for winding up is filed before the tribunal , the tribunal if satisfied that the prima facie case for winding up is made out , by an order direct the company to file its objects with statement of affairs within 30 days of order.

 

Sincere Regards!

 

CA Sanjay Kumar Agrawal

Mobile: 9810116321

 

To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal

 

For All MCQ post please click on:

Webpage: http://www.casanjay.me/

Facebook: https://www.facebook.com/CA.Sanjay.K.Agrawal/

Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/

 

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