Q. 1 (a) Define Primary and Secondary Market Quoting relevant law.
(b) Define competition quoting relevant law.
(c) Define Foreign contribution quoting relevant law.
(d) Define Depositories quoting relevant law.
(e) Define Right of Easement quoting relevant law.
Q. 2 Why was the need felt for FOREIGN EXCHANGE MANAGEMENT ACT, 1999 (FEMA) in the face of its predecessor FOREIGN EXCHANGE REGULATION ACT (FERA) and how is this legislation (FEMA) different from FERA?
Q. 3 What purpose the COMPETITION ACT, 2002 serves repealing Monopolies and Restrictive Trade Practices Act, 1969 and transferring cases pending before the Monopolies and Restrictive Trade Practices Commission to the National Commission Constituted under the Consumer Protection Act, 1986 and at the same time deconstituting Competition Commission of India?
Q. 4 How does the Securities and Exchange Board of India tackle self-dealing by Insiders and Inside Trading?
Q. 5 When did the first barrier to investment come into existence in India and when and how was it dismantled? Explain the provisions of the legislation.
Q. 6 Compare and contrast the salient provisions of the Companies Act, 1956 and the Securities Contracts Regulation Act, 1956 in the sphere of securities.
Q. 7 Comment on the Regulatory Framework for multinational companies with reference to UNCTAD draft code of conduct on transnational corporations and control and regulation of foreign companies in India.
Q. 8 Give salient provisions of the legislation in respect of ENVIRONMENTAL PROTECTION relating to water and air and the relevant remedies for ensuring environmental protection in India.
Q. 9 Comment on the liabilities of the Director under the Companies Act, 1956 and the doctrine of ULTRA VIRES.
Q.1 Attempt the following :—
(a) Discuss the provisions relating to material alteration of cheque.
(b) Explain the concept of subrogation.
(c) Clayton’s Rule
(d) Regulation of Foreign Companies
(e) Law relating to restrictive trade practices
Q.2 Discuss the penalty provisions of foreign offences committed by Companies and Government under the Environment (Protection) Act, 1986.
(OR)
Discuss the role played by the Supreme Court in creating environmental law jurisprudence of India with the help of Caselaw.
Q.3 Discuss briefly salient features of the law relating to essential services maintenance.
Q.4 State the relevant Rules and Regulations of the Reserve Bank of India for regulating the activities of Financial Institutions.
Q.5 Attempt any one of the following:—
(a) Law relating to foreign collaborations and agreements on technology transfer.
(b) State the salient features of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act.
Q.6 Explain the concept of Corporate Liability with the help of Case law. Also discuss the Bhopal Tragedy Case.
Q.7 “The Foreign Exchange Regulation Act, 1947 had become irrelevant in the liberalized era.” Critically examine the statement in the light of Foreign Exchange Management Act, 1999
Q.8 Write short notes on any two of the following:—
(a) Bancaassurance
(b) Universal banking
(c) Re-insurance
(d) Role of Developmental Financial Institutions.
Q.1 Discuss the following:—
a. Social Insurance
b. Reserve Bank of India and its role
Q.1 Explain different types of accounts and procedures for opening an account with special reference to:
- Partnership Accounts
- Accounts of Companies
- Trust Accounts
Q.2 Discuss Insurance and Consumer Protection Act, 1986.
Q.3 Short notes on any two of the following:—
i. Health Insurance
ii. Banker-Customer relationship
iii. Insurance against Third Party Risk
Q.1 Explain the following concepts/terms
(a) Statutory liquidity ratio
(b) Bank as a bailee
(c) Insurable value
(d) Not negotiable
(e) Credit creation
Q.2 Write a detailed note on the history of banking.
Q.3 List the important functions of modern commercial bank. Have these functions undergone a change since liberalization?
Q.4 Write a note on the nature of banking law. What are the main sources of banking law?
Q.5 What are the different types of bank accounts? Explain the precautions a bank has to exercise in respect of joint accounts.
Q.6 What is the status of Reserve Bank of India in the Indian Banking System? Explain its powers as conferred by the RBI Act, 1934 for the control and regulation of commercial banking in India.
Q.7 Write a note on reforms in banking law in India. What has been the direction of these reforms?
Q.8 What is Public Liability Insurance? What are the kinds of insurance covered under Liability Insurances?
Q.9 Explain whether the following statements are true or false giving reasons:—
(a) Contract of fire insurance is a property contract.
(b) The drawee of a cheque is always a banker.
Q.1 Critically analyse the recommendations of Sachar Committee and report in relation to Companies Act, 1956.
Q.2 What is the aim and object of financial institution? Illustrate by briefly discussing any two such leading institutions in India. Also explain the rules and regulations of Reserve Bank of India for financial institutions.
Q.3 How the Banking Company is regulated in India? Explain with reference to Banking Regulation Act, 1949.
Q.4 Critically analyse the regulation of business through Environmental law.
Q.5 (a) Is there any difference between a foreign company and a multinational company. Give at least three points in support of your answer.
(b) Discuss the regulatory laws of foreign company in India.
Q.6 Critically analyse the functions of SEBI in regulating stock market in India.
Q.7 Distinguish between:
(a) Trading and non-trading corporations
(b) FERA and FEMA
Q.8 Write short notes (Any Three):
(a) Legal liability of companies
(b) Law relating to insurance corporations
(c) Role of BIFR
(d) MRTP Act, 1969
Q.1 The principles of insurance.
Q.2 Distinguish the characteristic features of life insurance, marine insurance and fire insurance.
Q.3 UNCTAD Code of Conduct on Transfer of Technology.
Q.4 Briefly explain the structure and functions of the Reserve Bank of India.
Q.5 Examine to what extent the ESMA is effective in maintaining the Essential Services in the country.
Q.6 Explain the role of financial institutions in Industrial Financing in India.
Q.7 Write a brief note on objectives and provisions related to the Sick Industrial Companies in the Sick Industrial Companies (Special Provisions) Act, 1985.
Q.8 Explain the object, purpose, genesis and salient features of the Competition Act, 2002.
Q.9 Write a critical note on FEMA and explain how effective the various regulations under FEMA in regulation of Foreign Exchange in India.
Q.10 Explain the principles contained in UNCTAD Draft Code of Conduct on Transnational Corporations.
Q.11 Explain briefly the legal liability of Companies in protection of environment and prevention of pollution in various legislations and mention the important case laws.
Q.12 Explain the following terms:
(a) Principle of causa proxima
(b) Insurable Interest
(c) Customer-Banker Relationship
Q.13 Briefly describe the Sachar Committee Recommendations with regard to MRTP Act and Companies Act.
Q.1 What is Banking?
Q.2 What is the relationship between banker and customer?
Q.3 What is the structure and functions of Reserve Bank of India (RBI)?
Q.4 What is insurance and how many types of insurance are there?
Q.5 What is the difference between insurance and wager?
Q.6 What are fundamental elements of insurance?
Q.7 How many types of life insurance policies are there?
Q.8 What are the characteristics of fire insurance and how many types of fire insurance policies are there?
Q.9 What are the characteristics of marine insurance and how many types of marine insurance policies are there?
Q.10 Give an overview of Competition Law with its advantages?
Q.11 Write difference between Competition Law and MRTP ACT, 1969?
Q.12 Give the recommendations of Sachar Committee report on Company Act, 1956?
Q.13 Give the recommendations of Sachar Committee report on MRTP Act, 1969?
Q.14 Give important provisions from FEMA Act, 1999?
Q.15 Write differences between FERA and FEMA with any two similarities also?
Q.16 What type of offences is there in the FEMA Act, 1999?
Q.17 Give a brief note on Conservation of Foreign Exchange and Prevention of Smuggling Activities.
Q.18 Write a brief note on the Essential Services Maintenance Act, 1968.
Q.19 What is the role of BIFR in the Sick Industrial Companies (Special Power) Act, 1985?
Q.20 What are the symptoms of sickness of industries in the Sick Industrial Companies (Special Power) Act, 1985?
Q.21 Write notes on the following:—
IFCI
ICICI
IDBI
IIBI or IRBI
UTI
RBI
SEBI
Q.22 What are the functions or guidelines of SEBI?
Q.23 Give a brief description of UNCTAD Code of Conduct on Transfer of Technology?
Q.24 What is a foreign company?
Q.25 What is a role of foreign companies in India?
Q.26 How is winding-up of Foreign Companies can be done?
Q.27 What are the various provisions regarding Corporate Liability in Environmental Protection?
Q.28 Write a short note on Bhopal toxic gas leak tragedy?
Q.1 Write a critical note on licensing of banking company under the Banking Regulation Act, 1949?
Q.2 Explain the powers of the Reserve Bank of India under the Banking Regulation Act, 1949 to give directions to the banking companies?
Q.3 Write short note on the powers of the RBI under Section 22 of the Banking Regulation Act, 1949?
Q.4 What are the powers of Reserve Bank of India to grant or to refuse licence under Section 22 of the Banking Regulation Act, 1949? Are these powers constitutionally valid?
Q.5 Contracts of Insurance are “uberrima fide”. Elucidate with the help of judicial decisions and statutory provisions on the subject.
Q.6 (a) What is doctrine of causa proxima in a Marine Insurance?
(b) Fruits loaded on a ship were insured against damage consequent on collision with any other ship. During the course of voyage insured ship collided with another ship and thereby damaged which rendered it necessary for her to put into a port for repairs.
(c) When the ship arrived at the port of discharge after repairs a portion of fruit had gone bad. Is insurance company liable for the loss?
Hint: See Pink v. Fleming, 1899 25 QBD 396 and Leyland Shipping Co. Ltd. v. Norwich Union Fire Insurance Society Ltd., 1918 AC 350.
Q.7 (a) Define insurable interest. Is it essential in a contract of insurance?
(b) Can a father insure life of his son who is dependent on his father for his livelihood?
Hint: A father cannot insure the life of his son who is dependent on his father for his livelihood
Q.8 Whether A has insurable interest in the life of the following persons?
(i) In the life of his father who is dependent and with whom he had strained relations.
(ii) His girl friend with whom he is engaged for marriage.
Hint: (i) A cannot insure the life of his father who is dependent and with whom he had strained relations as in this case. A has no insurable interest in the life of such father.
(ii) A cannot insure the life of his girl friend even when he is engaged with her for marriage as he has no insurable interest in her life.
Q.9 (a) Contracts of insurance are of utmost good faith. Explain
(b) One D insured his life with LIC. In the proposal there was a fraudulent suppression of heart attacks which D had in recent past. However, doctors of LIC gave the opinion that D was fit to be insured at the time of their examination. Whether the corporation can avoid the claim under Section 45 of Insurance Act, 1938?
Hint: The mere fact that the insured company had the assured examined by its own doctor will not relieve him from the legal consequences of the false statement (Mithoo Lal Nayak v. LIC, MANU/SC/0255/1962 : AIR 1962 SC 814).
Q.10 To prevent misuse of the “Basis Clause”, Section 45 of the Insurance Act, 1938 puts some limits on the rights of the insurer with respect to a policy of life insurance. Explain these limits by referring to that statutory provision and the facts of a relevant case.
Q.11 Sugar bags loaded on a ship were insured against loss by sea water. A rat made a hole in the pipe of the ship. Sea water leaked through that hole into the ship and damaged sugar in the bags lying there. Whether insurance company is liable to pay this loss under policy of ship’s goods?
Hint: The facts of the problem are similar to the facts of Hamilton Fraser & Co. v. Pondorf & Co. (1887). It was held in this case that the proximate cause of damage was sea water and thus the insurer was held liable.
Q.12 A was suffering from shortness of breath and congested heart, got his life insured with LIC for Rs. 1,00,000 by concealing these ailments in answering questions about his health. After one year he died of heart failure. Will his nominee get the insured amount from LIC?
Hint: The nominee of the deceased will not get the insured amount from LIC as A did not disclose the ailments in answering questions about his health [Krishna Wati Puri (Smt.) v. LIC, AIR 1975 Del 19].
Q.13 A was suffering from heart disease for which she underwent open heart surgery in 1950. After one year she insured her life with LIC for Rs. 5 lakh but did not disclose anything about her heart ailment or open heart surgery. After 5 years, she died of heart attack. Can nominee of A claim on the insurance policy? Decide in the light of Section 45 of the Insurance Act, 1938.
Hint: The instant case is covered by second part of Section 45. The nominee cannot claim on the insurance policy [Mithoolal Nayak v. LIC, (1962) 32 Comp Cas (SC)].
Q.14 A took a “Householder’s Comprehensive Policy” of insurance with the defendant insuring the contents of her flats including jewellery, against loss or damage caused by fire.
On 31-12-2000 while leaving her flat, for protection against theft, she concealed the jewellery in the grate under coal and wood, which were ready for lighting. On returning, she inadvertently lit the fire and jewellery got damaged. Will A succeed upon the claim under the above said policy?
Hint: There had been ignition of insured property not intended to be ignited and the loss falls within the plain words of the policy. [Harris v. Poland, (1941) 1 KB 462]
Q.15 The insured owes a duty to disclose every material fact, of which he knows or ought to know before the contract of insurance is made. Discuss this statement in the light of the decided cases. i.e., “Mithoolal Nayak v. LIC” and “Krishna Wati Puri (Smt.) v. LIC”.
Q.16 “It is true of all types of insurance contracts that it is the duty of both the parties to help each other in reaching to a right conclusion, by disclosing all material facts relating to the contract of insurance and not to hold each other at arm’s length in defence of their conflicting interests.” With the help of leading cases explain the nature and scope of this duty. What could be the consequences, if this duty is not carried out?
Q.17 A insured his life with LIC. At the time of proposal, he replied to a number of questions, contained in the proposal form as to whether he suffered from certain specified diseases during the last two years. He replied them in the negative. But in fact, he did suffer from these diseases. After one year he assigned the policy to Ramesh and died. Can Ramesh recover the amount of policy from LIC? Decide.
Hint: Ramesh cannot recover the amount of policy from LIC because he not only failed to disclose what it was material for him to disclose but he made a false statement to the effect that he had not suffered from the diseases during the last two years [Krishna Wati Puri (Smt.) v. LIC, AIR 1975 Del 19].
Q.18 What are the rules of interpretation of liability clauses in an insurance policy?
Hint: Where a policy is reasonably susceptible of two constructions, then that interpretation will be adopted which is more favourable to the insured [Simmonds v. Cockell, (1920) 1 KB 843].
Q.19 “An insurance without insurable interest is a wager.” Comment.
Q.20 What do you understand by material facts in relation to a contract of insurance? What is the extent of duty of the insured to disclose material facts? State the consequences of non-disclosure and misrepresentation of material facts with reference to the facts of Kasum Ali Bulbul v. The New India Insurance Co., AIR 1968 J&K 39.
Q.21 What is the legal framework for Insurance brokers and what is the law prevalent in India for them?
© Universal law Publishing Co.