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CA FOUNDATION ANTIM TEST SERIES
TEST-6: COMPANIES ACT, 2013 AND LLP ACT, 2008
Time: 1 hr Date: 07.12.2023 Maximum Marks: 30
General Instructions:
1. All Questions are compulsory.
2. After completing the Test make the PDF of the Answer Sheet and save the file
name with “YourName_Law _06”.
3. Upload your PDF file to the respective portal till 11.59 pm.
Q1. Jagannath Oils Limited is a public company and having 220 members of which 25
members were employee in the company during the period 1st April, 2006 to 28th
June 2016. They were allotted shares in Jagannath Oils Limited first time on 1st July,
2007 which were sold by them 1st August, 2016. After some time, on 1st December,
2016, each of those 25 members acquired shares in Jagannath Oils Limited which they
are holding till date. Now company wants to convert itself into a private company.
State with reasons:
(I) Whether Jagannath Oils Limited is required to reduce the number of members.
(II) Would your answer be different if above 25 members were the employee in
Jagannath Oils Limited for the period from 1st April, 2006 to 28th June, 2017?
(4 Marks)
Q2. BC Private Limited and its subsidiary KL Private Limited are holding 90,000 and
70,000 shares respectively in PQ Private Limited. The paid-up share capital of PQ
Private Limited is ` 30 Lakhs (3 Lakhs equity shares of ` 10 each fully paid). Analyse with
reference to provisions of the Companies Act, 2013 whether PQ Private Limited is a
subsidiary of BC Private Limited. What would be your answer if KL Private Limited is
CA Foundation December 2023 Mock Test Series at https://commerceaim.vercel.app
CA FOUNDATION ANTIM TEST SERIES
TEST-6: COMPANIES ACT, 2013 AND LLP ACT, 2008
Time: 1 hr Date: 07.12.2023 Maximum Marks: 30
General Instructions:
1. All Questions are compulsory.
2. After completing the Test make the PDF of the Answer Sheet and save the file
name with “YourName_Law _06”.
3. Upload your PDF file to the respective portal till 11.59 pm.
Q1. Jagannath Oils Limited is a public company and having 220 members of which 25
members were employee in the company during the period 1st April, 2006 to 28th
June 2016. They were allotted shares in Jagannath Oils Limited first time on 1st July,
2007 which were sold by them 1st August, 2016. After some time, on 1st December,
2016, each of those 25 members acquired shares in Jagannath Oils Limited which they
are holding till date. Now company wants to convert itself into a private company.
State with reasons:
(I) Whether Jagannath Oils Limited is required to reduce the number of members.
(II) Would your answer be different if above 25 members were the employee in
Jagannath Oils Limited for the period from 1st April, 2006 to 28th June, 2017?
(4 Marks)
Q2. BC Private Limited and its subsidiary KL Private Limited are holding 90,000 and
70,000 shares respectively in PQ Private Limited. The paid-up share capital of PQ
Private Limited is ` 30 Lakhs (3 Lakhs equity shares of ` 10 each fully paid). Analyse with
reference to provisions of the Companies Act, 2013 whether PQ Private Limited is a
subsidiary of BC Private Limited. What would be your answer if KL Private Limited is
CA Foundation December 2023 Mock Test Series at https://commerceaim.vercel.app
