Answer Writing Practice DAY3 – CS Executive Session 1
Day 3
Today’s questions
Q1. A Company under Section 8 can be registered as a Small Company under the provisions of the Companies Act, 2013. comment.
Q2. Satvik is running a dyeing factory seeks your guidance in knowing various responsibilities imposed upon his business and to be complied under the Water (Prevention and Control of Pollution) Act, 1974
Q3. Write short notes on :
(i) Public Liability Insurance
(ii) Industrial Entrepreneurs Memorandum (IEM)
(iii) Enforcement of Trade mark rights
(iv) Labour Welfare Fund for social assistance to workers
(v) Arbitral Award for industrial disputes
Answer 1
As per the provisions of the Companies Act, 2013
small company means a company, other than a public company, whose
i. Paid-up share capital of which does not exceed fifty lakh rupees
and
ii. Turnover of which for the immediately preceding financial year does not exceed
two crore rupees
provides that nothing in shall apply to —
a. A holding company or a subsidiary company; or
b. A company registered under section 8; or
c. A company or body corporate governed by any special Act.
Accordingly, as per the above provisions, a Company registered under Section 8 cannot be treated as Small Company or a Company under Section 8 cannot be registered as Small Company.
Answer 2
Water (pre……. & con..) Act,1974 provides certain process for carrying certain types of industrial activities or running an Industrial unit, which involves discharging the trade effluent into a stream or well or sewer or on land.
In this context, Satvik should be made to understand the following responsibilities/
duties:
• Obtain “Consent to Establish”.
• Obtain “Consent to Operate”.
• Apply for renewal of the “Consent to Operate” before the expiry of validity period.
• Consent to be deemed as granted automatically and unconditionally after four
months from the date of application already given or refused before this period.
• Refusal of “Consent” to be recorded in writing.
• Pay Water Cess as indicated in the assessment order.
• Affix water meters of the prescribed standards.
• Provide access to State Pollution Control Board (SPCB).
• Pay interest in case of delay in paying the Water Cess.
• Pay penalty for non-payment of Cess.
• Industry is entitled to 25% rebate if meeting certain conditions.