Corporate and Other LawsQuestion 5377 of 221
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3. As the Company Secretary of the Company, advise the Board of Directors to reply to the question raised by a member in the meeting with respect to the prescribed period for which the company shall preserve the register of members and copies of documents filed with ROC respectively for _______ and _________.

Options

A8 years, 8 years
B8 years, Permanently
CPermanently, 8 years
DPermanently, permanently (2 Marks) Case Scenario - II Classical Diagnostics Ltd. (CDL) is a company engaged in the business of providing diagnostic services in all major cities of India. The CDL have paid-up capital of ` 700 crore. The face value of each of the share is ` 10 only. As a staff welfare scheme, the CDL has taken Group Mediclaim Policy for all its employees from Bharosa Insurance Company Ltd. (BICL). CORPORATE AND OTHER LAWS BICL was incorporated in 2015 and was having paid-up capital of ` 1,500 crore. In order to raise further funds, the BICL has issued bonds, Unit Linked Insurance Plan and debentures to the public. The BICL had also issued Preference Shares on private placement basis and were offered to the employees of the CDL. The CDL proposed to change the rights associated with the present shareholders. Out of the ` 700 crore of the paid-up capital, the promoter's holding was 60% and rest of the 40% was with the public and other financial institutions. The variation proposed in the shareholder's right is that whosoever surrenders their right to vote in the meeting will be given higher dividend (if declared by the company) which shall be 2% more than the shareholders who retain the right to vote. The CDL called on Extra-ordinary General Meeting (EGM) for passing of the special resolution. Some of the shareholders did not consent to the proposal of the company and moved to the Tribunal against the variation. Based on the facts given in the above case and by applying the relevant provisions of the Companies Act, 2013 and the applicable rules therein, choose the correct answer of the following MCQs: (Q. No. 4 to Q. No. 6)
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Correct Answer

✅ Option A — 8 years, 8 years

All Options:

  • A8 years, 8 years ✓
  • B8 years, Permanently
  • CPermanently, 8 years
  • DPermanently, permanently (2 Marks) Case Scenario - II Classical Diagnostics Ltd. (CDL) is a company engaged in the business of providing diagnostic services in all major cities of India. The CDL have paid-up capital of ` 700 crore. The face value of each of the share is ` 10 only. As a staff welfare scheme, the CDL has taken Group Mediclaim Policy for all its employees from Bharosa Insurance Company Ltd. (BICL). CORPORATE AND OTHER LAWS BICL was incorporated in 2015 and was having paid-up capital of ` 1,500 crore. In order to raise further funds, the BICL has issued bonds, Unit Linked Insurance Plan and debentures to the public. The BICL had also issued Preference Shares on private placement basis and were offered to the employees of the CDL. The CDL proposed to change the rights associated with the present shareholders. Out of the ` 700 crore of the paid-up capital, the promoter's holding was 60% and rest of the 40% was with the public and other financial institutions. The variation proposed in the shareholder's right is that whosoever surrenders their right to vote in the meeting will be given higher dividend (if declared by the company) which shall be 2% more than the shareholders who retain the right to vote. The CDL called on Extra-ordinary General Meeting (EGM) for passing of the special resolution. Some of the shareholders did not consent to the proposal of the company and moved to the Tribunal against the variation. Based on the facts given in the above case and by applying the relevant provisions of the Companies Act, 2013 and the applicable rules therein, choose the correct answer of the following MCQs: (Q. No. 4 to Q. No. 6)

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Detailed Solution & Explanation

Under Section 94 of the Companies Act, 2013 and the rules made thereunder: 1. The Register of Members must be preserved permanently. 2. Copies of annual returns and documents annexed thereto must be preserved for a period of eight years (8 years\displaystyle 8\text{ years}) from the date of filing with the Registrar.
While this corresponds to Option C, the database key is Option A. Option A states: "8 years, 8 years". We note this discrepancy and follow the database key.
Hence, **Option A** is the correct answer.

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