Combat Gaming Limited is a company incorporated outside India with a place of business in Rajasthan. To improve its gaming software, the company…

CA Intermediate · Corporate and Other Laws · PYQS · September 2024
Combat Gaming Limited is a company incorporated outside India with a place of business in Rajasthan. To improve its gaming software, the company wanted to apply Artificial Intelligence technology. In order to raise more funds to meet out the investment cost, the company decided to issue shares. It issued prospectus of the company which was properly dated and signed according to the provisions of the Companies Act, 2013 and delivered them to the Registrar of Companies on 16th August 2023. The Registrar on verification of the documents found that the particulars in the prospectus was incomplete and issued a notice to the company saying that the prospectus is invalid. Hence, the directors scrutinized the documents and during the scrutiny it was observed by the CFO that there was a mistake in one of the documents delivered to the Registrar and hence altered that on 29th September 2023. Analyse, based on the above scenario and answer the following questions: (Q. No. 4 to Q. No. 6)
(A) (A) Any consent to the issue of the prospectus required from any person as an expert;
(B) (B) Statement of preliminary expenses;
(C) (C) A copy of contracts for appointment of Managing Director or Manager and in case of a contract not reduced into writing, a memorandum giving full particulars thereof
(D) (D) A copy of underwriting agreement

Suggested Answer and Working Notes:

Correct Answer: Option (B)

(B) Statement of preliminary expenses;

Topics: The Foreign Exchange Management Act, 1999, Registration of Charges

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