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Which professional engaged in the formation of a company may make the declaration of compliance under section 7(1)(b) of the Companies Act, 2013?

Question and options

Which professional engaged in the formation of a company may make the declaration of compliance under section 7(1)(b) of the Companies Act, 2013?

  1. A registered valuer

  2. A cost accountant in practice

  3. An insolvency professional

  4. A SEBI-registered merchant banker

Answer and explanation

Correct answer: B - A cost accountant in practice

Section 7(1)(b) of the Companies Act, 2013 requires a declaration of compliance with the incorporation requirements by an advocate, a chartered accountant, a cost accountant or a company secretary in practice engaged in the formation, and by a person named in the articles as a director, manager or secretary. Registered valuers, insolvency professionals and merchant bankers are not among the professionals the section lists.

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