SEBI Grade A 2022– Companies Act Practice Question | Set- 5

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Companies Act Question for SEBI Grade A 2022

SEBI Grade A Companies Act Practice Question Test. Companies Act study material for SEBI Grade A Exam 2022. Costing, Companies Act, Economics, Commerce & Accountancy, Management and Finance Notes PDF for SEBI Grade A Preparation 2022. As we all know The Security Exchange Board of India (SEBI) has released the SEBI Grade A 2022 Notification for the recruitment of 120+ Assistant Managers across the country.

If you are preparing for SEBI Grade A 2022, you will come across a section on “Costing, Companies Act and Economics”. In this post, you will attempt the Companies Act for your SEBI Grade A Preparation 2022. If you prepare this thoroughly, you can very easily crack SEBI Grade A 2022.

SEBI Grade A 2022 – Companies Act Question | Set- 5

Solving the SEBI Grade A Companies Act Question will help the candidates to get acquainted with different types of questions. SEBI Grade A Companies Act Question will also increase the precision and accuracy which saves a good amount of time in the actual exam.


1.All listed company or a company belonging to class or classes of companies, shall appoint an individual as auditor for maximum one term of ………. Years.

A 1 Year

B 2 Years

C 5 Years

D 10 Years

E None of above

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Correct Answer – C. 5 Years

Explanation: Section 139(2) of the Companies Act, 2013.

2.For the purpose of sub section (2) of Section 139 of the Companies Act, 2013, the class of companies shall include…………….Companies excluding one person companies and small companies.

A all unlisted public companies having paid up share capital of rupees ten crore or more.

B all private limited companies having paid up share capital of rupees twenty crore or more

C all companies having paid up share capital (unlisted public companies- Rupees ten crore or more and private limited companies- rupees twenty crore or more), but having public borrowings from financial institutions, banks or public deposits of rupees fifty crore or more

D All of the above

E None of these

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Correct Answer – D. All of the above

Explanation: Section 139(2) of the Companies Act, 2013.

3.Every company shall appoint regular auditor at …………

A First Board meeting

B First Annual General Meeting

C First Extra Ordinary General Meeting

D None of the above

E All of above

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Correct Answer – B.  First Annual General Meeting

Explanation: Section 139(1) of the Companies Act, 2013.

4.M/s TATA Ltd. is incorporated at 1st January, 2015. The Board of Directors shall appoint first auditor before………….

A 30.01.2015

B 30.03.2015

C 30.09.2015

D 31.12.2015

E None of these

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Correct Answer – A. 30.01.2015

Explanation: As per Section 139(6) of the Companies Act, 2013, the first auditor of a company, other than a Government company, shall be appointed by the Board of Directors within 30 days from the date of registration of the company.

5.The notice to Registrar about appointment of First Auditor shall be in Form…………….
A Form ADT 1

B Form ADT 2

C Form ADT 3

D Form ADT 4

E None of above

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Correct Answer – A. Form ADT 1

Explanation: Form ADT 1

6.Whether Comptroller and Auditor-General of India (CAG) can raise the objection against the 1st auditor appointed by Board of Directors/EGM in case of Government Company?

A Yes

B No

C Partly Yes

D Partly No

E None of above

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Correct Answer – A. Yes

Explanation: In case of Government Company the first right to appoint the auditor is of CAG. Even if the 1st auditor is appointed by Board of Directors/EGM, the CAG not only have power to object such appointment but also have power to remove such auditor in logical sense.

7.First auditor appointed by Comptroller and Auditor-General of India (CAG)/ Board of Directors/EGM shall hold the office till of ……..meeting

A Statutory meeting

B First Annual General Meeting

C Second Annual General Meeting

D subsequent Extra Ordinary General Meeting

E None of above

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Correct Answer – B. First Annual General Meeting

Explanation: Section 139(7) of the Companies Act, 2013.

8.The company cannot survive without ……..persons.

A  Minimum number of members

B Minimum number of directors

C Auditor of the company

D All of the above

E None of these

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Correct Answer – D. All of the above

9.The first auditor of a Government company, shall be appointed by the Comptroller and Auditor-General of India (CAG) within 60 days from the date of registration of the company. If the CAG fails to appoint the same, then the auditor shall be appointed by Board of Directors of the company within 60 Days. If the Board of Directors fails to appoint the same then shall be appoint within next ……..days at Extra Ordinary General Meeting.

A 15 days

B 30 days

C 60 days

D 90 days

E None of the above

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Correct Answer – C. 60 days

Explanation: Section 139(7) of the Companies Act, 2013.

10.The first auditor of a Government company, shall be appointed by the Comptroller and Auditor-General of India (CAG) within 60 days from the date of registration of the company. If the CAG fails to appoint the same, then the auditor shall be appointed by Board of Directors of the company within …….. Days.

A 15 days

B 30 days

C 60 days

D 90 days

E None of the above

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Correct Answer –B. 30 days

Explanation: Section 139(7) of the Companies Act, 2013.

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