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2 marks question and answers company law

1. Define company?
Prof, Haney lays down, "A Company is an artificial person created by law having a separate entity with a perpetual succession and a common seal".
2. Who is a promoter?
Promoter: He is a person associated with promotion work. 
Justice C. Cockburn defines a promoter as - "One who undertakes to form a company concerning a given project and to set it going and who takes necessary steps to accomplish the task".
The term promoter includes an individual, a firm, an association of persons or even a company. The promoter selects and settles the field, place, capital, nature of liability and name of the company.
3.What is Table-A?
Meaning: Table “A" is a model set of articles given in Schedule I contain 99 rules and regulations for companies limited by shares
Section 26 states that a public company limited by shares may or may not prepare its articles of association. As per Section 28(2) of the companies Act, if a public company limited by shares has not registered its articles, it is deemed that it has adopted Table "A". 
Even if it has prepared its own articles, wherever it is silent the corresponding regulation of Table "A" is applicable.
4.State any two roles of company secretary. 
1. He acts a legal position
Under the Indian Income-Tax  Act, Indian Stamps Act, Sales Tax Act and the Factories Act, the be Company secretary is recognised as the Principal authority of administrative requirements
2.He acts a Liaison officer
He brings together the company and shareholders, the company and the government authorities and the company and outsiders.
5.Who is a director as per company act 2013?
A director is a person appointed to perform the duties and functions of director of a company in accordance with the provisions of the Companies Act, 2013. Section 2(34) of the Companies Act, 2013 defines a ‘director’ to mean a director appointed to the Board of a company.
6.What is notice?
NOTICE : A notice (Section 171) is an intimation of the date, time, place and the business to be transacted at the meeting to all the members entitled to receive it.

7.what is Quorum?
A meeting to be valid must be duly constituted. It means that the meeting should have requisite quorum. Quorum is the minimum number of qualified persons who should be present at the meeting.
8.What is prospectus?
Prospectus is an invitation to the public buy shares, debentures or deposits. By prospectus interest of investors can be aroused and they can be induced to purchase the shares or debentures.
9. What Is a Red Herring prospectus?
A red herring prospectus is a preliminary prospectus filed by a company with the Securities and Exchange Commission (SEC), usually in connection with the company's initial public offering (IPO). A red herring prospectus contains most of the information about the company's operations and prospects but does not include key details of the security issue, such as its price and the number of shares offered.
10. Expand MOA and AOA
MOA: memorandum of association
AOA: Articles of association


11. What is resolution?
A resolution is a motion which is discussed and passed in the meeting. a resolution is passed only when the motion has been duly placed, voted upon and passed by a majority with or without amendments. Properly passed and recorded resolutions become the official decisions of the meeting.
12.What is motions?
The term motion signifies the proposition, question or proposal or any item of business placed before the meeting for its discussion. A motion can be altered or amended at anytime before it is put to vote .The articles usually lay down rules and regulations governing the valid motion.
13.What is Agenda?
Agenda is a list of business items to be taken up at a meeting for discussion and decision. It is like a program card setting out the business of a meeting in the order in which it is to be transacted.
14.What is proxy voting in a company law?
The term “proxy vote “refers to a ballot cast by a single person or firm on behalf of a corporation's shareholder who may not be able to attend a shareholder meeting, or who may not choose to vote on a particular issue.


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