Flash Card

LAKSHYA-75 [Day-59] Static Flash Cards for IAS Prelims 2020

National Bamboo Mission (NBM); Humayun-nama; Five Sikh Takhts; Review petition of Supreme Court of India; Department of Expenditure; Seismic Zoning Map of India; Reserves of iron ore in India; Zero Liquid Discharge (ZLD) system; Polar Stratospheric Clouds; Restructured National Bamboo Mission; National Company Law Tribunal (NCLT);
By IASToppers
May 07, 2020

The National Company Law Tribunal (NCLT) was constituted on the basis of the recommendation of which committee?

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Answer: Justice Eradi committee

Enrich Your Learning:

National Company Law Tribunal (NCLT):

  • The National Company Law Tribunal (NCLT) is a quasi-judicial body in Indiathat adjudicates issues relating to Indian companies.
  • The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013and was constituted on 1st June 2016.
  • The NCLT was constituted on the basis of the recommendation of the justice Eradi committee on the law relating to insolvency and winding up of companies.
  • It has been set up to govern the companies registered in Indiaand is a successor to the Company Law Board.
  • The NCLT has eleven benches, two at New Delhi (one being the principal bench) and one each at Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, and
  • These Benches will be headed by the President and 16 Judicial Members and 09 Technical Members at different locations.
  • The Appellate Tribunal is required to dispose the appeal within a period of six monthsfrom the date of the receipt of the appeal.
  • Decisions of the NCLT may be appealed to the National Company Law Appellate Tribunal (NCLAT). The decisions of NCLAT may be appealed to the Supreme Court of India.
  • No civil court has the jurisdictionto consider any suit or proceeding with reference to any matter which the Tribunal or the Appellate Tribunal is empowered to decide.
  • Appeals can be made by any person aggrieved by an order or decision of the NCLT, within a period of 45 days from the date on which a copy of the order or decision of the Tribunal.

Advantages of NCLT:

  • NCLT is a specialized court only for Corporates, i.e., companies registered in India.
  • This will be no more than a Tribunal for the Corporate Members.
  • NCLT will reduce the multiplicity of litigation before different forums and courts.
  • NCLT has multiple branches and is able to provide justice at a close range.
  • NCLT consists of both judicial and technical members while deciding on matters.
  • The time taken to wind up a company will be reduced.
  • Speedy disposal of cases will help reduce the number of cases.
  • NCLT & NCLAT have exclusive jurisdiction.

Powers of NCLT:

  • Power to seek the assistance of Chief Metropolitan Magistrate.
  • De-registration of Companies.
  • Declare the liability of members unlimited.
  • De-registration of companies in certain circumstances when there is registration of companies is obtained in an illegal or wrongful manner.
  • The remedy of oppression and mismanagement.
  • Power to hear the grievance of the refusal of companies to transfer securities and rectification of register of members.
  • Protection of the interest of various stakeholders, especially non-promoter shareholders and depositors.
  • Power to provide relief to the investors against a large set of wrongful actions committed by the company management or other consultants and advisors who are associated with the company.
  • Aggrieved depositors have the remedy of class actions for seeking redressal for the acts/omissions of the company which hurt their rights as depositors.
  • Powers to direct the company to reopen its accounts or allow the company to revise its financial statement but do not permit reopening of accounts. The company can itself also approach the Tribunal through its director for revision of its financial statement.
  • Power to investigate or for initiating investigation proceedings. An investigation can be conducted even abroad. Provisions are provided to assist investigation agencies and courts of other countries with respect to investigation proceedings.
  • Power to investigate into the ownership of the company.
  • Power to freeze assets of the company.
  • Power to impose a restriction on any securities of the company.
  • Conversion of the public limited company into the private limited company.
  • If the company cannot or has not held an Annual General Meeting as required under the Companies Act or a required Extraordinary General Meeting, then the Tribunal has powers to call for a General Meetings.
  • Power to alter the financial year of a company registered in India.

The NCLT has the power under the Companies Act to adjudicate proceedings:

  • Initiated before the Company Law Boardunder the previous act (the Companies Act 1956);
  • Pending before the Board for Industrial and Financial Reconstruction(BIFR), including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
  • Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
  • Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.

 

National Bamboo Mission is Centrally Sponsored Scheme under which National Mission?

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Answer:

National Bamboo Mission (NBM) is a Centrally Sponsored Scheme under National Mission for Sustainable Agriculture (NMSA).

Enrich Your Learning:

Restructured National Bamboo Mission:

  • The Cabinet Committee on Economic Affairs (CCEA) has approved restructured National Bamboo Mission (NBM), a Centrally Sponsored Scheme under National Mission for Sustainable Agriculture (NMSA) during remaining period of 14th Finance Commission(2018-20) with an outlay of Rs. 1290 crore.
  • The restructured mission will ensure holistic development of bamboo sector by addressing complete value chain and establish effective linkage of producers (farmers) with industry.

Objectives of restructured NBM:

  • Increase area under bamboo plantation in non-forest Governmentand private lands to supplement farm income and contribute towards resilience to climate change.
  • Improve post-harvest managementthrough establishment of innovative primary processing units, treatment and seasoning plants, primary treatment and seasoning plants, preservation technologies and market infrastructure.
  • Promote product development at micro, small and medium levelsand feed bigger industry. Rejuvenate the under developed bamboo industry in India.

Beneficiaries: 

  • Benefit directly and indirectly farmersas well as local artisans and associated personnels engaged in bamboo sector including associated industries.
  • Directly benefit about one lakh farmers as it has proposed to bring about one lakh ha area under plantation.
  • It is expected to establish about 4000 treatment and product development units and bring more than 100000 ha area under plantation.

States/districts to be covered: 

  • The restructured mission will focus on development of bamboo in limited states where it has social, commercial and economical advantage, particularly in North Eastern region and in Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, Uttarakhand, Karnataka, Bihar, Jharkhand, Andhra Pradesh, Telangana, Gujarat, Tamil Nadu and Kerala.

About National Bamboo Mission (NBM):

  • NBM is a Centrally Sponsored Scheme, started in 2006-07.
  • It was subsumed under Mission for Integrated Development of Horticulture(MIDH) during 2014-15 and continued till 2015-16.
  • It aims to promote growth of bamboo sector through area based regionally differentiated strategy.
  • The NBM mainly emphasized on propagation and cultivation of bamboo, with limited efforts on processing, product development and value addition. There is weak linkage between farmers (producers) and industry.

Polar Stratospheric Clouds are restricted to Antarctica only? a) True b) False

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Answer:

False, Polar Stratospheric Clouds are found in Arctic and Antarctica.

Enrich Your Learning:

What are the Polar Stratospheric Clouds?

  • Polar stratospheric clouds (PSCs) are clouds in the winter polar stratosphere at altitude range 10 km to 25 km.
  • PSCs form poleward of about 60°S latitude in winter and early spring. They are found in Arctic and Antarctica.

The clouds are classified into Types I and II according to their particle size and formation temperature.

  • The Type I PSCsare optically much thinner than the Type II clouds. These clouds consist mainly of hydrated droplets of nitric acid and sulphuric acid.
  • Type II PSCs are composed of ice crystalsand form when temperatures are below the ice frost point. They are also known as nacreous or mother-of-pearl clouds.

Role in Ozone Depletion:

  • Polar stratospheric clouds (PSCs) play a central role in the formation of the ozone hole in the Antarctic and Arctic.They help destroy ozone in two ways:
    • They provide a surface which converts benign forms of chlorine into reactive, ozone-destroying forms.
    • and they remove nitrogen compounds that moderate the destructive impact of chlorine.

Zero-liquid discharge (ZLD) is a water treatment process in which all wastewater is purified and recycled? a) True b) False

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Answer:

True. Zero-liquid discharge (ZLD) is a water treatment process in which all wastewater is purified and recycled.

Enrich Your Learning:

What is Zero Liquid Discharge (ZLD) system?

  • Zero-liquid discharge (ZLD) is a water treatment process in which all wastewater is purified and recycled; therefore, leaving zero discharge at the end of the treatment cycle.
  • Zero liquid discharge is an advanced wastewater treatment method that includes ultrafiltration, reverse osmosis, evaporation/crystallization, and fractional electrode ionization.

Potential benefits:

  • Recycles all wastewater.
  • Can recover valuable materials from the wastewater streams, such as potassium sulfate, caustic soda, sodium sulfate, lithium and gypsum.

 

Enlist the states name which have Haematite and Magnetite resources in India.

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Answer:

Haematite resources: Orissa, Jharkhand, Chhattisgarh, Karnataka, Goa, Maharashtra, Andhra Pradesh and Rajasthan.

Magnetite resources: Karnataka, Andhra Pradesh, Goa, Kerala, Jharkhand, Rajasthan and Tamil Nadu.

Enrich Your Learning:

Reserves of iron ore in India:

India is endowed with fairly abundant resources of iron ore. It has the largest reserve of iron ore in Asia. The two main types of ore found in India are haematite and magnetite.

It has great demand in international market due to its superior quality. The iron ore mines occur in close proximity to the coal fields in the north-eastern plateau region of the country which adds to their advantage.

About 95 %of total reserves of iron ore is located in the States of Odisha, Jharkhand, Chhattisgarh, Karnataka, Goa, Telangana, Andhra Pradesh and Tamil Nadu.

In Odisha, iron ore occurs in a series of hill ranges in Sundergarh, Mayurbhanj and Jhar. The important mines are Gurumahisani, Sulaipet, Badampahar (Mayurbhaj), Kiruburu (Kendujhar) and Bonai (Sundergarh).

Similar hill ranges, Jharkhand has some of the oldest iron ore mines and most of the iron and steel plants are located around them.

Most of the important mines such as Noamundi and Gua are located in Poorbi and Pashchimi Singhbhum districts. This belt further extends to Durg, Dantewara and Bailadila. Dalli, and Rajhara in Durg are the important mines of iron ore in the country.

In Karnataka, iron ore deposits occur in Sandur-Hospet area of Ballari district, Baba Budan hills and Kudremukh in Chikkamagaluru district and parts of Shivamogga, Chitradurg and Tumakuru districts.

The districts of Chandrapur, Bhandara and Ratnagiri in Maharashtra, Karimnagar and Warangal district of Telangana, Kurnool, Cuddapah and Anantapur districts of Andhra Pradesh, Salem and Nilgiris districts of Tamil Nadu are other iron mining regions. Goa has also emerged as an important producer of iron ore.

In context of Seismic Zoning of India, Zone III is the moderate seismic zone while Zone IV is the least active seismic zone. True OR False.

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Answer: False.

Correct statement: Zone III is the moderate seismic zone while Zone IV is the high seismic zone. 

Enrich Your Learning:

Seismic Zoning of India:

 

 

 

 

 

 

 

 

 

 

 

 

What is Seismic Zoning Map of India?

Prepared by the Geological Survey of India (G. S. I.), the seismic zoning map provides information about areas which are prone to seismic activity.

Following are the varied seismic zones of the nation:

Zones

Classification

Areas [Refer Map]

Zone – II

Least active seismic zone.

Entire northeastern India, parts of Jammu and Kashmir, Himachal Pradesh, Uttaranchal, Rann of Kutch in Gujarat, part of North Bihar and Andaman & Nicobar Islands.

Zone – III

Moderate seismic zone.

Covers remaining parts of Jammu and Kashmir and Himachal Pradesh, National Capital Territory (NCT) of Delhi, Sikkim, Northern Parts of Uttar Pradesh, Bihar and West Bengal, parts of Gujarat and small portions of Maharashtra near the west coast and Rajasthan.

Zone – IV

High seismic zone.

Kerala, Goa, Lakshadweep islands, remaining parts of Uttar Pradesh, Gujarat and West Bengal, Parts of Punjab, Rajasthan, Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh, Maharashtra, Orissa, Andhra Pradesh, Tamil Nadu and Karnataka.

Zone – V

Highest seismic zone.

Covers remaining parts of country.

 

How is this map important?

The map is used for Disaster Management and planning. An Indian seismic zoning map assists one in identifying the lowest, moderate as well as highest hazardous or earthquake-prone areas in India. The map also helps in identifying suitable locations for constructing any high rise buildings.

Mention two activities of the Department of Expenditure of the finance ministry.

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Answer:

  1. i) Handling the bulk of the Central budgetary resources transferred to States and ii) Managing the financial aspects of personnel management in the Central Government.

Enrich Your Learning:

The finance ministry comprises of the five Departments namely:

  • Department of Economic Affairs
  • Department of Expenditure
  • Department of Revenue
  • Department of Investment and Public Asset Management
  • Department of Financial Services

Department of Expenditure:

  • It is the nodal Department for overseeing the public financial management system in the Central Government and matters connected with State finances.
  • The principal activities of the Department include:
  • Pre-sanction appraisal of major schemes/projects (both Plan and non-Plan expenditure),
  • Implementation of the recommendations of the Finance and Central Pay Commissions,
  • Overseeing the expenditure management in the Central Ministries/Departments through the interface with the Financial Advisors and the administration of the Financial Rules / Regulations / Orders through monitoring of Audit comments/observations, preparation of Central Government Accounts,
  • Assisting Central Ministries/Departments in controlling the costs and prices of public services,
  • Assisting organizational re-engineering through review of staffing patterns and O&M studies and reviewing systems and procedures to optimize outputs and outcomes of public expenditure.
  • The Department is also coordinating matters concerning the Ministry of Finance including Parliament-related work of the Ministry.
  • The Department has under its administrative control the National Institute of Financial Management (NIFM), Faridabad.

What are the grounds for that Supreme Court has laid down for seeking a review of its own verdict?

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Answer:

The Supreme Court has laid down three grounds for seeking a review of a verdict it has delivered:

  1. The discovery of new and important matter or evidence which, after the exercise of due diligence, was not within the knowledge of the petitioner or could not be produced by him;
  2. Mistake or error apparent on the face of the record; or
  3. Any other sufficient reason that is analogous to the other two grounds

Enrich Your Learning:

Review petition of Supreme Court of India:

  • Under Article 137of the Constitution, the Supreme Court has the power to review any of its judgments or orders.
  • As per the Civil Procedure Code and the Supreme Court Rules, any person aggrieved by a ruling can seek a review. This implies that it is not necessary that only parties to a case can seek a review of the judgment.
  • A Review Petition has to be filed within 30 daysof the date of judgment or order.
  • In certain circumstances, the court can condone the delay in filing the review petition if the petitioner can establish strong reasons that justify the delay.
  • It needs to be noted that the Court does not entertain every review petition filed.It exercises its discretion to allow a review petition only when it shows the grounds for seeking the review.

In context of Sikhism, which Takht is the oldest and is considered supreme among of all five takhts?

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Answer: Akal Takht

Enrich Your Learning:

Five Sikh Takhts:

  • The ‘Takht’ is a Persian word that means imperial throne.
  • At present Sikhs recognise five places as takhts.
  • Three are in Punjab—Akal Takht (Amritsar); Takht Keshgarh Sahib (Anandpur Sahib) and Takht Damdama Sahib (Talwandi Sabo). The Damdama Sahib was the last and the most recent one to be recognised as a takht in 1966.
  • The other two are in: Takht Patna Sahib (Bihar) and Takht Hazur Sahib (Nanded, Maharashtra).
  • The three takhts in Punjab are directly controlled by the Shiromani Gurudwara Parbandhak Committee (SGPC).
  • Akal Takht (Throne of the Timeless One) is the oldest of the takhts, and is considered supreme among the five takhts. It was set up in 1606 by Guru Hargobind, whose succession as the sixth Guru after the execution of his father, Guru Arjan Dev, is considered a turning point in the Sikh history.
  • The Akal Takht is a five-storey building today and the first storey houses the Guru Granth Sahib.
  • It is from Akal Takht that Sikhs are awarded religious punishment(declared tankhaiya) who are found to be violating the Sikh doctrine and code of conduct.
  • They symbolised the coming together of the temporal authority and the political sovereignty of the Sikh community (miri) with the spiritual authority (piri).
  • The other four takhts are linked to Guru Gobind Singhwho was the tenth Guru of Sikh Community.
  • Takhts are known to issue hukumnamas or orders from time to time on issues that concern the community and edict or order concerning the entire community is issued only from Akal Takht.

Who wrote Humayun nama, which provides the detailed account of the life of Mughal Emperor Humayun?

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Answer: Gulbadan Begum wrote Humayun nama.

Enrich Your Learning:

Humayun-nama:

  • The Humayunnama was written by Gulbadan begumwhich was the sister of the famous Mughal emperor Humayun and the daughter of Babur.
  • She had left an account of her brother and father in her Persian memoir Humayun Nama.
  • The Humayun Nama was completed around 1587, when Gulbadan was well into old age.
  • Gulbadan Begum’s account is considered to be ‘the most valuable contemporary record of the period’.
  • Akbar commissioned Gulbadan Begum to chronicle the story of his father Humayun.
  • The book provides the detailed account of the life of Mughal Emperor Humayun.

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