Sunrise Technologies Private Limited ("STPL") was in process of establishing its new software development center in Pune. On 28th February, 2024,…
CA Intermediate · Corporate and Other Laws · MTP · January 2025
Sunrise Technologies Private Limited ("STPL") was in process of establishing its new software development center in Pune. On 28th February, 2024, the Board of Directors passed a resolution to purchase a property consisting of: A three-storey building25 acres of agricultural land adjacent to the building100 motor carsAn orchard with 100 fruit-bearing trees The company received a government notification dated 15th March, 2024, requiring all new technology centers to obtain special clearance within 45 days of establishment. The notification mentioned that existing orders under the previous Technology Parks Act (which was repealed and replaced by new legislation) would continue to remain valid. The notification was to be served to all concerned parties through registered post. The Managing Director has approached you to understand various legal aspects under the General Clauses Act, 1897. On the basis of above facts and by applying applicable provisions of the General Clauses Act, 1897, choose the correct answer (one out of four) of the following Multiple Choice Questions (MCQs 9-11, of 2 marks each) given herein under:
Suggested Answer and Working Notes:
Correct Answer: Option (B)
Motor Cars
Topics: The Foreign Exchange Management Act, 1999, The General Clauses Act, 1897
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