Question : The amount of Securities Premium Reserve Account is utilised for the purposes specified in Section 52(2) of the Companies Act, 2013. The purposes for which Securities Premium Reserve can be used are:

Option 1:

for writing off preliminary expenses

Option 2: for writing off expenses of, or commission paid or discount allowed on debentures of the company

Option 3: for providing premium payable on the redemption of redeemable preference shares or debentures of the company

Option 4: All of the above

Question : The sum obtained as a premium on securities cannot be used for the following, according to Section 52(2) of the Companies Act, 2013:

Option 1: Writing off preliminary Expenses

Option 2: Buy back of its own shares

Option 3: Purchase of Fixed Assets

Option 4: Premium Payable on Redemption of Prefrence share

Question : As per Section 53 of the Companies Act, 2013, the issue of shares at a discount shall be void, except in case of -

Option 1: A company may issue share at a discount to its creditors when its debt converted into shares in pursuance of any statutory resolution plan or debt restructuring scheme.

Option 2: A company may issue share at a discount to its creditors when its debt converted into shares in pursuance of any statutory resolution plan or merger scheme.

Option 3: A company may issue share at a discount to its debtors when its debt converted into shares in pursuance of any statutory resolution plan or debt restructuring scheme.

Option 4: None of the Above

Question : The National Payments Corporation of India was set up under the provisions of which Act?

Option 1: The SARFAESI Act, 2002

Option 2: Payment and Settlement Systems Act, 2007

Option 3: Government Securities Act, 2006

Option 4: Companies Act, 2013

Question : Which section of the RBI Act empowers the Central Government to supersede the RBI board and issue directions considered to be necessary in the public interest to the RBI after consulting the Governor of the bank?

Option 1: Section 1

Option 2: Section 5

Option 3: Section 7

Option 4: Section 3