Manapuram Ltd. is a leading construction company of India. In 2022 the company decided to convert itself into a private company due to strategic…

Manapuram Ltd. is a leading construction company of India. In 2022 the company decided to convert itself into a private company due to strategic reasons and changes in shareholding. After passing a special resolution and altering its articles of association, the company formally became a private company, and its name changed from Manapuram Ltd. to Manapuram Pvt. Ltd. The company secretary advised the Board to file Form INC-24 with the Central Government for this name change. In January 2025, the company planned to acquire high-tech machinery and required ₹ 50 crore in funding. It approached ABC Bank, which agreed to lend the amount against a fixed charge on the company's plots situated in Delhi. A year later, due to financial difficulties, the company decided to sell its plots, including the Delhi plot. Kalyani Ltd., a real estate development company, agreed to purchase the Delhi plot for ₹ 20 crore. During due diligence, Kalyani Ltd. discovered that ABC Bank held a registered charge on the property as security for its loan. In February 2026, Manapuram Ltd. accepted ₹ 12 crore as public deposits, of which ₹ 6 crore is maturing in the next financial year. The Board, reviewing the company's financial position, observed that aggregate outstanding loans and deposits had reached ₹ 62 crore and formed the view that the company was required to constitute an Audit Committee since this exceeded ₹ 50 crore. Manapuram Ltd. issued 10,000 equity shares through private placement, approved by the Board on 1-03-2026, and separately approved a buy-back of 5,000 shares on 15-04-2026. Both transactions were entered in the Register of Members on 25-04-2026. In light of the above facts, answer the following Multiple Choice Questions (Each MCQ 2 Marks):