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Friends, Updating here the recollected questions from May 2016 Exams. Wish you all the very best for your exam.
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No. of max members in pvt company - 200
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Pawnor pawnee
The bailment of goods as security for payment of a debt or performance of a promise is called "pledge". The bailor is in this case called the "pawnor". The bailee is called the "pawnee".
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Min deposit to appeal to DRAT - 50000
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Min and max directors in public limited co -
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Complaints can lodge to banking ombudsman through - Authorised Representative
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Safe custody of articles.. Bailment
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Clubs n societies r registered under - either under the Companies Act, 1956 or under the Societies Registration Act or the Co-operative Societies Act
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Sale notice period ie. 30 days
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Authorized officer of public sector bank min designation.. Chief manager
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Jurisdiction of filing suit - at place of mortgaged property situated
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Permission from RBI for securitization companies
It is a company registered under the Companies Act, 1956 for the purpose of securitisation. The securitisation company also needs a registration from the RBI as per the SARFAESI Act. The securitisation company can set up separate trusts scheme wise and act as trustee for such schemes, as provided in the Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003. The investors in the securitisation company are the beneficiaries of such trusts.
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what is floating charge? - a liability to a creditor which relates to the company's assets as a whole and may become fixed in particular circumstances (such as liquidation). A floating charge is a security (i.e. mortgage, lien, etc.) that has an underlying asset or group of assets which is subject to change in quantity and value. Corporations can use floating charges and it does not affect their ability to use the underlying asset as normal. Only if the company fails to repay the loan and/or goes into liquidation, does the floating charge become "crystallized" or frozen into a fixed charge. At that point the lender becomes the first-in-line creditor to be able to draw against the underlying asset and/or its value to recoup its loss on the loan.
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