Accounting And Finance - Spottie Ltd - Mr Spot and Mrs Spot - Report Writing Assessment Answer

Question 1: Answer all questions [20 Marks]

(i) Asha Pvt Ltd Co is having only 5 members. All the members of the company were travelling by car to go to a business meeting. An accident took place and all of them died on the spot. Answer with reasons with reference to Companies Act, 2013 whether the existence of Asha Ltd. has also come to an end. [3]

(ii) Virat Ltd. wants to be a small company. What are the conditions that need to be satisfied? [3]

(iii) When can dividend be held in abeyance? [3]

(iv) Mr. Angad, a former bank executive, was convicted by a court eight years ago for embezzlement of funds and was sentenced to imprisonment for one year. Can Mr. Angad become the director of Sushma Jewelers Ltd., a public company? [3]

(v) Mr. Sundeep, a director states that he will not be able to attend the next Board meeting. Advise whether notice is required to be sent to him. [3] (vi) Write a note on Smith Report (2003). [3] (vii) State the elements of Ethics. [2]