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Roll No. .....................................

Time allowed : 3 hours Maximum marks : 100

Total number of questions : 6 Total number of printed pages : 6

NOTE : Answer ALL Questions.

PART–I

1. (a) “The Reserve Bank of India has prescribed appropriate prudential norms for banks in
order to strengthen the balance sheets of banks.” Briefly describe these norms.

(b) Elaborate briefly the pre-requisites for compounding process under Foreign Exchange
Management Act (FEMA), 1999.

(c) Discuss the provisions where the Central Government may call for and examine any
proceedings under the Foreign Contribution (Regulation) Act, 2010.

(d) Explain the provisions with regard to setting up of unit under Section 15 of the Special
Economic Zones Act, 2005.

(5 marks each)

Attempt all parts of either Q. No. 2 or Q. No. 2A

2. (a) Discuss the terms and conditions for overseas direct investment by a proprietorship
concern/unregistered partnership firm in India.

(4 marks)

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(b) What do you mean by Liberalised Remittance Scheme ?

(4 marks)
(c) In which manner External Commercial Borrowings (ECB) proceeds are permitted to be
parked abroad as well as domestically ?
(4 marks)
(d) What mandatory documents are required to be submitted for export and import of goods
from/into India ?
(4 marks)
(e) What is meant by Core Investment Company (CIC) ?
(4 marks)
OR (Alternate question to Q. No. 2)

2A. (i) Define the following terms as stated under Foreign Exchange Management Act, 1999 :
(a) Automatic Route
(b) Government Route
(c) Foreign Portfolio Investment
(d) Foreign Portfolio Investor.
(4 marks)
(ii) Explain any four provisions related to eligibility of service providers under Service Exports
from India Scheme (SEIS) as per Foreign Trade Policy and Procedure.
(4 marks)
(iii) State the provisions of Reserve Bank of India Act, 1934 regarding creation of reserve
fund by non-banking financial companies. How can it be appropriated ?

(4 marks)

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(iv) What do you mean by “Financial Commitment” and “Indian Party” under Overseas Direct
Investment ?

(4 marks)

(v) Explain the following instruments used by Reserve Bank of India for implementing
monetary policy :

(a) Liquidity Adjustment Facility

(b) Marginal Standing Facility.

(4 marks)

PART–II

3. (a) Under what circumstances the Central Government may remove the Chairperson or any
member of the Competition Commission of India under the Competition Act, 2002 ?

(b) Discuss the provisions when the order passed by the Competition Commission of India
may be rectified under the Competition Act, 2002.

(c) An Organization constituted by the owners of Cement Industries unanimously decided

to raise the price of cement above competitive levels resulting in injury to the consumers
and to the economy. But the decision taken by the organization was not in writing and
also not intended to be enforced by legal proceedings. Discuss whether the decision taken
by organization may be considered as an ‘agreement’ under the provisions of the
Competition Act, 2002 ?

(d) Mention the most commonly adopted ways in which collusive bidding or bid rigging may
occur.

(e) Explain the provisions regarding “Meetings of Commission” under Section 22 of The
Competition Act, 2002.

(3 marks each)

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4. (a) Explain the procedure which is being regulated by the Competition Commission of India

under Section 36(2) while trying the suit under the provisions of the Competition

Act, 2002.

(b) What are the orders that may be issued by the Competition Commission of India after

inquiry into any agreement entered into by any enterprise or association of enterprises

or any person or association of persons or an enquiry into abuse of dominant position

under Section 27 of the Competition Act, 2002 ?

(5 marks each)

PART–III

5. (a) A tendered to supply goods to B up to ` 50,000 for a period of one year. B ordered

the goods up to ` 30,000 only. A wants to sue B for breach of contract as order did

not come up to the amount expected. Discuss with reasons whether A can sue B under

The Indian Contract Act, 1872.

(4 marks)

(b) C agrees to appoint B as his clerk to sell goods at a yearly salary upon A’s becoming

surety to C for B for his conduct of duly accounting for money received by him as

such clerk. Afterwards, without A’s knowledge or consent, C and B agree that B should

be paid commission on the goods to be sold by him and not by a fixed salary. B later

misappropriated funds. Discuss the liability of A.

(4 marks)

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(c) Ranu, hired a taxi car from his residence to airport as he and his family were going

from Mumbai to Bengaluru. The taxi was in a poor condition and the driver had not

adequate rest and drove rashly. Eventually, it went burst in the middle due to which
Ranu and his family could not reach the airport in time to catch their flight.

Decide whether Ranu may be treated as a ‘consumer’ under the Consumer Protection
Act, 2019 ?

(4 marks)

(d) Discuss the provisions for the confiscation and vesting of benami property under the
Benami Transactions (Prohibition) Act, 1988.

(4 marks)

(e) Explain in brief the role of the Financial Action Task Force (FATF) in the prevention
of money laundering under The Prevention of Money Laundering Act, 2002 ?

(4 marks)

Attempt all parts of either Q. No. 6 or Q. No. 6A

6. (a) Explain the provisions of the “Publication of names of convicted companies by Court”

as per Section 10-B of The Essential Commodities Act, 1955.

(3 marks)

(b) Discuss the aims and advantages for which Real Estate (Regulation and Development)
Act, 2016 (RERA) was enacted.

(3 marks)

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(c) Section 2A of the Essential Commodities Act, 1955 lists ‘foodstuffs’ as an essential
commodity in its Schedule. Discuss with the help of decided case whether ‘tea’ is also
a ‘foodstuff ’ in this sense ?

(3 marks)

(d) What are the penalty provisions for vexatious search under the Legal Metrology
Act, 2009 ?

(3 marks)

(e) Enumerate any four kind of properties which cannot be transferred under the Transfer
of Property Act, 1882.

(3 marks)

OR (Alternate question to Q. No. 6)

6A. Distinguish between the following :

(i) Cheque and Bill of Exchange

(ii) ‘Contract of service’ and ‘Contract for service’ under Consumer Protection Act, 1986

(iii) Sale and Agreement to sell

(iv) Actual, Active or Ostensible partner and Sleeping or Dormant partner.

(v) Simple mortgage and Mortgage by conditional sale.

(3 marks each)

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