Foreign Currency Convertible Bonds (FCCBs) — structure and regulation
Debt instrument denominated in foreign currency, convertible into equity at predetermined ratio. Issued under ECB framework with conversion price floor.
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CS
Company Secretary interview questions
96 questions available.
Difficulty
Liberalised Remittance Scheme (LRS) for resident individuals
Allows resident individuals to remit up to USD 250,000 per FY for permissible capital and current account transactions, with TCS applicable above ₹7 lakh.
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Compounding of contraventions under FEMA
Voluntary admission of contravention; compounded by RBI/Directorate of Enforcement; no criminal prosecution post-compounding; quantum based on Master Direction matrix.
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Overseas Direct Investment (ODI) under FEMA
Indian entities can invest abroad up to 400% of net worth (automatic) under FEM (OI) Rules 2022. New ODI/OPI bifurcation, financial services restrictions and Form FC.
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External Commercial Borrowings (ECB) framework
Foreign-currency or INR-denominated borrowings by eligible Indian entities, under tenor / pricing / end-use restrictions per RBI Master Direction.
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Automatic Route vs Approval Route for FDI
Automatic: no prior approval; only post-investment reporting. Approval route: government clearance via FIFP for sensitive sectors and from land-border countries.
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FDI reporting — FC-GPR and FC-TRS
FC-GPR: report receipt of FDI and allotment within 30 days. FC-TRS: report transfer of shares between resident and non-resident within 60 days.
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Difference between Capital and Current Account transactions under FEMA
Capital account: alters assets/liabilities of resident outside India (FDI, ODI, ECB, NRI deposits). Current account: rest (trade, services, dividends, salaries).
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Personal Guarantor insolvency — Part III of IBC
Personal guarantors to corporate debtors can be admitted into insolvency under §94/95. Adjudicating authority is NCLT (concurrent with corporate debtor).
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Cross-border insolvency under IBC — Section 234 and 235
§234 enables bilateral agreements with other countries; §235 lets NCLT request foreign courts. Draft Part Z (UNCITRAL Model Law) pending enactment.
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Avoidance transactions under IBC — preferential, undervalued, fraudulent
RP/Liquidator can apply to NCLT to set aside transactions made within look-back periods (1-2 years) that benefit related parties or defraud creditors.
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Moratorium under Section 14 of IBC
On CIRP admission, NCLT imposes moratorium: no suits, recovery, asset transfer, or termination of essential services against corporate debtor.
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Pre-Packaged Insolvency Resolution Process (PPIRP) for MSMEs
Available only to corporate MSMEs. Debtor-in-possession with RP supervision; 120-day timeline; base resolution plan + Swiss challenge.
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Liquidation under IBC — when and how
Triggered if CoC resolves with 66% vote, no plan approved within timelines, or plan is rejected. Liquidator distributes per §53 waterfall.
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Role of Resolution Professional (RP) during CIRP
RP takes over management of corporate debtor, preserves assets, runs the company as a going concern, invites resolution plans and reports to CoC.
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Difference between Financial Creditor and Operational Creditor under IBC
Financial creditor: lender / debt with time-value (interest). Operational creditor: dues for goods/services, employees, tax. Different CIRP rights and CoC representation.
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Corporate Insolvency Resolution Process (CIRP) — overview and timeline
Operational/financial creditor or corporate debtor files §7/§9/§10. NCLT admits → IRP appointed → CoC formed → 180+90 days (extendable to 330) to approve resolution plan.
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Risk Management Committee — composition and key roles under LODR Reg. 21
Mandatory for top 1000 listed entities. Min 3 members with majority directors; at least 1 independent; oversees risk policy, ERM framework and cybersecurity.
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Difference between Executive, Non-Executive and Nominee Directors
Executive: full-time involvement in operations. Non-executive: oversight only. Nominee: appointed by lender/investor under contract; subject to special restrictions.
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Business Responsibility and Sustainability Report (BRSR) — overview
Mandatory ESG report for top 1000 listed companies by market cap from FY 22-23. Covers nine NGRBC principles with quantitative and qualitative disclosures.
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