Rishabh, a resident of Indore with a strong interest in film direction and production, decided to build his own venture in the entertainment field.…

Rishabh, a resident of Indore with a strong interest in film direction and production, decided to build his own venture in the entertainment field. After completing his specialised training in 2019 and gaining experience as a freelancer, he incorporated a film production company named Rishabh FrameCraft Private Limited (OPC) in July 2023, with its Registered Office in Mumbai. Rishabh was the sole subscriber to the Memorandum of Association, with his mother, Mrs. Meera, as the nominee. The company had three directors — Rishabh himself, his brother Rivan and his sister Kritika. The Authorised Capital stated in the Memorandum was - 40,00,000, while the paid-up capital was - 10,00,000, entirely held by Rishabh. Rishabh's father, Mr. Dinesh, served as Vice President (Marketing) at NovaCrest Pharma Limited, a listed pharmaceutical company. His work demanded frequent international travel, and during the financial year 2023–24, he travelled extensively across Europe from 1st June 2023 till 31st March 2024. He was also planning to migrate to Manchester, U.K., after his superannuation, which was two years away. Rishabh's mother, Mrs. Meera, was a science teacher in a reputed public school in Indore and an active social worker. With the support of his two co-directors, Rishabh steadily expanded the operations of Rishabh FrameCraft Private Limited (OPC) into radio, television, fashion films, music videos and other entertainment-related projects. In July 2024, an unexpected development occurred when Mrs. Meera expressed her desire to withdraw her consent as the nominee due to a serious medical condition requiring specialised treatment. This situation required Rishabh to consider appointing a new nominee. After careful thought, he approached his father, Mr. Dinesh, requesting him to take up the role. Mr. Dinesh agreed to consider it positively but cautioned that the appointment must not result in any legal complications. Around this time, Mr. Arvind Yatral, a renowned numerologist for over a decade, approached Rishabh to produce short films for his company, Arvind Numerix Private Limited (OPC). During their discussions, he suggested that Rishabh add the letters ‘h' and 'v' to his name for better professional growth. Rishabh accepted the advice and, after completing the necessary legal formalities, changed his name to Rishhavv. 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 (of 2 marks each) given herein under: