Brilliant Company Ltd. has an existing paid-up equity share capital of 100 crore. Over the past few years, it has already issued sweat equity shares…

Brilliant Company Ltd. has an existing paid-up equity share capital of 100 crore. Over the past few years, it has already issued sweat equity shares worth 20 crore. Now, it plans to issue additional sweat equity shares worth 10 crore. The board of directors passed a resolution and gave the approval for the allotment of shares. Mr. Anuj and Ms. Anita are siblings who jointly hold 500 shares in AB Company. The share certificate was issued solely in Ms. Anita's name. Mr. Anuj sent an email to the company, requesting the issuance of an additional share certificate in his name, as he is a joint holder of the shares. In his request, he emphasized his equal ownership and the need for documentation reflecting the same. However, in response, the company denied his request, stating that as per company policy and applicable regulations, a separate share certificate cannot be re-issued in his name. The company convened its 5th Annual General Meeting (AGM) on 12th September 2024 at the registered office. Notice for same was served on 20th August 2024. But due to certain technical errors the notice (which was delivered via e-mail) remained undelivered to the 3% of members who were to attend the AGM. Hence, the members (who were not able to attend meeting) were desperate to hold AGM again as the number of members who were not able to attend meeting was quite big. The company has issued unconditional apologies to its member who were not able to attend the meeting. A shareholder, Mr. Dutta, who could not attend the meeting, wanted to inspect the minutes of the meeting. He visited the company's registered office on 16th September 2024 and was allowed to inspect the minutes for two hours. Later, he requested a physical copy of the minutes on 17th September 2024, along with the prescribed fees. The company has declared dividend at the rate of 15% on its equity shares for the financial year ending 31st March 2025. However, the company has not made adequate profits during the financial year ending on 31st March 2025. The company had declared dividend of 10% in the financial year ending 31st March 2024. So now the company wants to declare the dividend at the rate of 15% out of its free reserves. A resolution for the same was passed by board of directors at the meeting. On the basis of above facts and by applying applicable provisions of the Companies Act, 2013 and the applicable Rules therein, choose the correct answer (one out of four) of the following Multiple Choice Questions (MCQs 1-5, of 2 marks each) given herein under: