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Questions and Answers
According to the provisions of CPC, the Court which passed a decree may, on the application of the decree holder, send it for execution to another Court of competent jurisdiction under which condition?
According to the provisions of CPC, the Court which passed a decree may, on the application of the decree holder, send it for execution to another Court of competent jurisdiction under which condition?
- If the person against whom the decree is passed actually and voluntarily resides or carries on business within the local limits of the jurisdiction of such other Court
- If the decree directs the sale or delivery of immovable property situate outside the local limits of the jurisdiction of the Court which passed it
- Either a or b
- If the Court which passed the decree considers for any other reason, which it shall record in writing, that the decree should be executed by such other Court
- Either a or b or c (correct)
What is the validity period of a Shelf Prospectus as per the Companies Act?
What is the validity period of a Shelf Prospectus as per the Companies Act?
- 1 year (correct)
- 3 years
- 5 years
- 2 years
- 6 months
Which Act lays down provisions related to KYC norms?
Which Act lays down provisions related to KYC norms?
- Banking Regulation Act
- Reserve Bank of India Act (correct)
- Prevention of Money Laundering Act
- Recovery of Debts and Bankruptcy Act
- None of the above
Which statement best describes a temporary injunction?
Which statement best describes a temporary injunction?
Study Notes
Civil Procedure Code (CPC) Provisions
- A decree may be sent for execution to another Court of competent jurisdiction under specific conditions.
- Conditions include:
- The person against whom the decree is passed resides or does business within the jurisdiction of the other Court.
- The decree involves the sale or delivery of immovable property outside the local limits of the original Court.
- The original Court records a valid reason for the transfer that is documented in writing.
- Valid options for court execution are either of the above conditions (a, b, or c).
Shelf Prospectus Validity
- The validity period of a Shelf Prospectus under the Companies Act is one year.
- It commences from the date of the first offer of securities under that prospectus.
- Subsequent offers of securities during this period do not require a new prospectus.
KYC Norms Legislation
- KYC norms are governed by the Reserve Bank of India Act.
- Sections 45K and 45L empower the RBI to collect information from financial institutions.
- These sections support compliance with KYC guidelines, aiming to enhance the integrity of the financial system and prevent financial crimes.
Temporary Injunction Definition
- A temporary injunction is a court order aimed at preserving the status quo during legal proceedings.
- It restrains a party from performing a specific act until a final decision is made.
- Its purpose is to prevent significant harm to one party while the case is ongoing.
Designated Partner in LLP
- The text alludes to conditions regarding designated partners in a Limited Liability Partnership (LLP).
- Clarification needed on which statement about designated partners is incorrect, hence further exploration may be required.
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Description
Test your knowledge and preparation for the IBPS SO Law Mains 2023 exam with this previous year question paper. It covers essential topics and legal principles to help you excel in the examination. Get ready to tackle various legal questions and scenarios from the exam curriculum.
