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MODEL PAPER - I
SECTION A
5) All contracts are agreements, but all agreements are not contracts.
Discuss.
Or
6) Discuss in detail the various kinds of consideration.
SECTION B
(COMPULSORY QUESTION) (0110=10)
1) Case Study
Indias problem is not lack of resources; it is the inability and unwillingness to
mobilise resources into the public sector. The Indian economy is not facing a
resources crisis; it is confronting a fiscal crisis.
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43 MBA First Semester (BEL) JNTUA
The reasons for this are the steady decline over the years in the share of direct
taxes in spite of the fact that both incomes and savings of the top 10 per cent of
the households in the country have been steadily increasing. The government
does not appear committed to placing greater reliance on direct taxes to
mobilise resources. It is unwilling to tax the rich and therefore has no option
except to fall back on indirect taxes and rely more than ever on borrowing from
those who expect interest and tax concessions from temporarily parting with
their resources to enable the government to continue its development
programs. Grave inter-sectoral imbalances also exist in Indias tax structure
because agricultural incomes are virtually tax-free. The Raj Committee had
recommended the introduction of an agricultural tax to remove this inequity,
but the State Governments did nothing to implement the recommendation. The
long-term fiscal policy also did nothing to eliminate this inter-sectoral inequity.
Question:
Suggest some remedies for the new fiscal policy to combat fiscal crisis.
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Model Papers 44
MODEL PAPER II
BUSINESS ENVIRONMENT AND LAW
MBA - FIRST SEMESTER EXAMINATION
Time: 3 Hours Max. Marks: 60
Note: All questions carry equal marks
SECTION A
Answer the following:
1) Discuss the objectives and resolution of industrial policy.
Or
2) What are the factors favouring liberalisation in India?
SECTION B
(COMPULSORY QUESTION) (0110=10)
1) Case Study
A company was incorporated on 6th October 2003. The certificate of incorporation
of the company was issued by the Registrar on 15th October, 2003. The company
on 10th October 2003 entered into a contract which created its contractual liability.
The company denies the said liability on the ground that company is not bound by
the contract entered into prior to issuing of certificate of incorporation.
Question:
Decide, under the provisions of the Companies Act, 1956, whether the
company can be exempted from the said contractual liability.
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