MTK Private Limited is a company registered under the Companies Act, 2013 on 5th January, 2022. The company did not start its business till 31st…
CA Foundation · Business Laws · MTP · September 2024
MTK Private Limited is a company registered under the Companies Act, 2013 on 5th January, 2022. The company did not start its business till 31st July, 2024. Identify under which category MTK Private Limited company is classified. Explain the definition of the category of the company in detail.
Suggested Answer and Working Notes:
Promissory Note: An instrument in writing (not being a banknote or a currency -note) containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument. Bill of Exchange: An instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument.
Topics: The Companies Act, 2013
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