Q: The Fair and Remunerative Price (FRP) of sugarcane is approved by the _________________.

The FRP is the least amount price that sugar mills have to pay to sugarcane farmers. It is strong-minded on the basis of the recommendation of Commission for undeveloped Costs and Prices (CACP) and after discussion with State Governments and other stakeholders. The Cabinet Committee on Economic Affairs (CCEA) chair by Prime Minister Narendra Modi has standard the suggestion in respect of strength of mind of 'Fair and Remunerative Price' of sugarcane payable by sugar mills for 2019-20 sugar season. Thus, the correct option is A.

Question 1

Write Notes on:Statutory Meeting.

Accepted Answer

Statutory meeting is the meeting of shareholders of a company. According to Sec 165 of the companies act, every public limited by sharesor limited by guarantee, having share capital must hold this meeting. This meeting is held once in the lifetime of a company. A private company need not hold this meeting.Objectives of meeting :To comply with the provision of section 165 of the companies act 1956To approve the statutory reportTo inform the shareholders about the formation of company and made by the company.To inform the shareholders about preliminary expenses made by promoters before incorporation of companyTo inform the shareholders of any contract entered into by the company.Appoint office bearers.

Question 2

Internal Auditor is appointed by the ___________________.

Accepted Answer

Internal Auditor is appointed by the Board of Directors of the Company. Internal auditor helps to evaluate and improve the effectiveness of risk management, control and governance processes in an organization. Internal auditor helps to achieve the organizational goal in an effective manner.

Question 3

The First A.G.M. of a company must be held within________________.

Accepted Answer

AGM should be held on the earliest of the following dates: 15 months from the date of last annual general meeting. the last day of the calendar year (December 31st). 6 months from close of the financial year (September 30th).As per Section 96 of the Companies Act, 2013: Every Company, other than One Person Company (OPC), must hold a general meeting in each year apart from other meetings as Annual General Meeting (AGM). The AGM must be held within six months from the closing date of financial year.

Question 4

Write note on Class Meetings.

Accepted Answer

Class meetings are meetings which are held by the holders of a particular class of shareholders  e.g preference shareholders. Such meetings are normally called when it is proposed to vary the rights of that particular class of shares. At such meetings these members discuss the pros and cons of the proposal and vote accordingly.  Class meetings are held to pass resolutions which will bind only the members of the class concerned and only members of that class can attend and vote.

Question 5

The written record of the proceedings at the meeting are the minutes.

Accepted Answer

Minutes also known as minutes of meeting are instant records. They typically describe the events of the meeting and may include a list of attendees, a statement of the issues considered by the participants and related responses or the decision of the issue.

Question 6

State the following statement is True or False.Annual Report is prepared by members.

Accepted Answer

This statement is False because of the following reasons : (i) The Board of Director is the authority who convene this meeting. (ii) This authority is delegated to the secretary in Board Meeting.(iii) The secretary has to ensure the preparation of annual report and annual accounts. (iv) These reports and financial statement need to be approved by the board and the auditors.(v) The secretary presents the Annual Accounts to the directors for approval and obtains signature. (vi) He also sends Annual Accounts to the auditor for audit.(vii) The secretary then drafts the Directors' Report. This report presents the performance of the company during the year.Hence, it is the secretary and not the members who prepare annual report.

Question 7

Situation in which disputes arose from labour contract's different interpretations settled by third party is called ____________.

Accepted Answer

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Question 8

The Fair and Remunerative Price (FRP) of sugarcane is approved by the _________________.

Accepted Answer

The FRP is&#10;the least amount price that&#10;sugar mills have to pay to sugarcane farmers. It is strong-minded on the basis of the recommendation&#10;of Commission for undeveloped Costs and Prices (CACP) and after discussion with State Governments and&#10;other stakeholders. The Cabinet Committee on Economic&#10;Affairs (CCEA) chair by Prime Minister Narendra Modi has standard the suggestion in respect of strength&#10;of mind of 'Fair and Remunerative Price' of sugarcane payable by sugar mills&#10;for 2019-20 sugar season. &#10;&#10;Thus, the correct option is A.

Question 9

Answer briefly:Agrim purchased a Diesel Car for Rs. 7 Lakhs from an automobile Company and found its engine to be defective. Despite many complaints, the defect was not rectified. Suggest the appropriate authority where Agrim under his right as a consumer, could file a complaint.

Accepted Answer

According to the Consumer Protection Act, 1986 , Agrim can file a complaint in the District Consumer Disputes Redressal Forum (DCDRF) where the cases of goods and services of 20 lakh rupees or less are filed. The agency sends the good for testing in laboratory if required and gives decisions on the basis of facts and laboratory report.

Question 10

According to Salmond, the kinds of Jurisprudence are_____.

Accepted Answer

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