Mumbai University Solved Question Papers
Company Law
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 7
Jan 2019 Examination
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BLS LLB 5 Years Sem 7 Company Law Jan 2019 Question Paper with Solutions
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First published on munotes.in on 11 August 2026.
Published by munotes.in, Mumbai.
Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the Jan 2019 examination.
The answers in this volume state the law as it stands today, not as it stood when this paper was set, and in this subject that distinction decides whole answers. The Insolvency and Bankruptcy Code, 2016 took inability to pay debts out of the grounds for winding up and omitted voluntary winding up from the Companies Act altogether, so an unpaid creditor now applies under the Code and a solvent company ends its life under Section 59 of it. Section 195, which prohibited insider trading, was omitted with effect from 9 February 2018, and Section 3A, making members severally liable when the membership falls below the statutory minimum, was inserted the same day. The certificate to commence business gave way to a director's declaration under Section 10A from 2 November 2018. Several questions here are set on institutions that no longer exist, most often the statutory meeting, which was Section 165 of the Companies Act, 1956 and was never re-enacted; those answers give the institution as it was and say what has replaced it.
Contents
The questions below are the paper as the University of Mumbai set it at the Jan 2019 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the Jan 2019 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 100 · 25 questions answered
Instructions printed on the paper
- N.B: 1. Figures to the right indicate full marks.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q1
Answer in one/two sentences 20 Marks
(a)What is "Dividend"?[2]
Answer
A dividend is the share of the profits of a company distributed among its shareholders in proportion to the amount paid up on the shares held by them. Section 2(35) of the Companies Act, 2013 provides only that "dividend" includes any interim dividend.
Section 123(1) requires that a dividend be declared or paid only out of the profits of the company for that year arrived at after providing for depreciation, or out of the profits of any previous financial year or years so arrived at and remaining undistributed, or out of both, or out of money provided by the Central or State Government for the payment of dividend in pursuance of a guarantee given by that Government.
The rest of the answers
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