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Direction (1-10): In a passage given below there are 10 blanks, each followed by a word given in bold. Even blank has four alternative words given in options (a), (b), (c) and (d). You have to choose which word will best suit to the respective blank. Choose (e) as your answer if the word given in the bold after the blank is your answer i.e “No change requires”.
The Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT) _(1)_[suggested]_a Memorandum of Understanding (MoU) to facilitate the sharing of data and information with each other on an automatic and regular basis. According to a press _(2)_[issue]_by MCA, “The move is targeted to curb the menace of shell companies, money laundering and black money in the country and prevent misuse of corporate structure by shell companies for various _(3)_[banned]_purposes.”
Earlier in August, the Securities and Exchange Board of India (SEBI) _(4)_[focused]_stock exchanges to initiate action against 331 suspected shell companies and bar them from trading. Further, MCA cancelled the registration of around 2,09,032 defaulting companies and the Ministry of Finance directed banks to restrict operations of bank accounts of such companies by the directors of such companies or their authorized representatives.
There is no clear _(5)_[representation]_of what shell company is in the Companies Act, or any other Act.
A shell company can be described as a non-trading organization that does not engage in any activity but exists only as medium for organization’s different business activities. Shell companies are usually _(6)_[planned]_on the stock exchange and are not illegal inherently but typically shell companies include multiple layers of companies that _(7)_[might]_been created for the purpose of diverting money or for money laundering. Most shell companies do not manufacture any product or deal in any product or render any service. They are mostly used to make _(8)_[effective]_transactions. Generally, these companies hold assets only on paper and not in reality. These companies conduct almost no economic activity.
Under Section 248 of the Companies Act “Registrar of Companies has powers to remove name of a company from register of companies where a company fails to _(9)_[originate]_its business within one year of its incorporation or where a company is not carrying on any business or operation for a period of two years.”
If you are an equity investor, it is better to stay away from investing in shell companies that have financial irregularities. Conduct proper due diligence of companies that you have _(10)_[submitted]_in, and try to research their operations, businesses and financials.
1)
a) designated
b) specified
c) denoted
d) signed
e) No change required
2)
a) declaration
b) release
c) publication
d) report
e) No change required
3)
a) barred
b) criminal
c) illegal
d) forbidden
e) No change required
4)
a) addressed
b) trained
c) directed
d) pointed
e) No change required
5)
a) illustration
b) image
c) instance
d) definition
e) No change required
6)
a) listed
b) recorded
c) scheduled
d) programmed
e) No change required
7)
a) would
b) had
c) shall
d) have
e) No change required
8)
a) lucrative
b) financial
c) profitable
d) efficient
e) No change required
9)
a) activate
b) inaugurate
c) commence
d) instigate
e) No change required
10)
a) invested
b) supplied
c) provided
d) offered
e) No change required
Answers:
1). Correct Answer is: d)
According to the sentence “signed” will be used as the meaning of “sign” is “put your signature on”.
2). Correct Answer is: b)
According to the sentence “release” will be used as it means “announcement”.
3). Correct Answer is: c)
According to the sentence “illegal” will be used as it means “against the law”.
4). Correct Answer is: c)
According to the sentence “directed” will be used as the meaning of “direct” is “guide / show the way”.
5). Correct Answer is: d)
According to the sentence “definition” will be used as it means “meaning/ description”.
6). Correct Answer is: a)
According to the sentence “listed” will be used as the meaning of “listed” is “registered”.
7). Correct Answer is: d)
According to the sentence “have” will be used as the subject (companies) is plural.
8). Correct Answer is: b)
According to the sentence “financial” will be used as it means “monetary/economic”
9). Correct Answer is: c)
According to the sentence “commence” will be used as it means “begin / start”.
10). Correct Answer is: a)
According to the sentence “invested” will be used as the meaning of “invest” is “spend”.
Daily Practice Test Schedule | Good Luck
| Topic | Daily Publishing Time |
| Daily News Papers & Editorials | 8.00 AM |
| Current Affairs Quiz | 9.00 AM |
| Quantitative Aptitude “20-20” | 11.00 AM |
| Vocabulary (Based on The Hindu) | 12.00 PM |
| General Awareness “20-20” | 1.00 PM |
| English Language “20-20” | 2.00 PM |
| Reasoning Puzzles & Seating | 4.00 PM |
| Daily Current Affairs Updates | 5.00 PM |
| Data Interpretation / Application Sums (Topic Wise) | 6.00 PM |
| Reasoning Ability “20-20” | 7.00 PM |
| English Language (New Pattern Questions) | 8.00 PM |
English New Pattern Questions
