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English Questions – Cloze Test 236

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The order of the Securities and Exchange Board of India imposing trading restrictions on 331 companies suspected of being shell entities is an example of rash regulatory action. The Securities..(1)..disdain Tribunal has since rightly ordered the lifting of the trading restrictions imposed on two of the companies that approached it, namely J Kumar Infraprojects and Prakash Industries. In fact, the tribunal stated in its order that “it is apparent that SEBI passed the..(2)..blink order without any investigation.” Interestingly, the regulatory body had acted on a list of suspect companies that the Ministry of Corporate Affairs had forwarded after consultation with the Serious Fraud Investigation Office and the Income Tax department. Instead of conducting an independent investigation into these suspect companies, SEBI passed the buck to the exchanges and asked them to immediate trading restrictions on the companies. Before a proper investigation by SEBI or the exchanges, the companies were put under stage four of the Graded Surveillance Measure, whereby trading is limited to one day a month, the trading price is..(3)..capped, and buyers are required to deposit money. It is suspected that trading on the shares of these “shell” companies was used as a way to launder black money. In fact, 169 out of the total list of 331 companies had already been suspended from trading before the order. But on the list were also companies with huge market capitalisations, and it is reasonable to assume that the..(4)..trivial share of trading on any given day is..(5).. preserved.
An interesting unknown, meanwhile, is the basis on which the MCA prepared the list of suspect companies that was forwarded to SEBI. The government’s resolve to act against..(6)..dodgy companies, for the sake of bringing business practices under the purview of the law, is indeed warranted. According to Finance Minister Arun Jaitley, since demonetisation the Centre deregistered well over 1,60,000 dormant companies until early July. It has also identified over 37,000 shell firms and 3,00,000 firms engaged in..(7)..vindicated dealings, according to Prime Minister Narendra Modi. At the same time, a sound business environment also requires that the government..(8)..chaotic to the basic rules of justice at all times. Handing out extremely harsh punishment on suspect companies without giving them an..(9)..adequate chance to explain their positions..(10)..muddled of heavy-handedness.

  1. 1) sheltered
    2) oblivious
    3) Appellate
    4) neglect

    5) No correction required.

    Answer – 3) 
    Explanation: Appellate – (especially of a court) concerned with or dealing with applications for decisions to be reversed.

  2. 1) impugned
    2) evade

    3) invulnerable

    4) overpass
    5) No correction required.

    Answer – 1) 
    Explanation: impugned – dispute the truth, validity, or honesty of (a statement or motive); call into question.

  3. 1) scorned
    2) omitted
    3) assailable
    4)  buttoned up
    5) No correction required.
    Answer – 3)
    Explanation: No correction required.

  4. 1) predominant
    2) reject
    3) shielded
    4) inconsequential
    5) No correction required.
    Answer – 1)
    Explanation: predominant – present as the strongest or main element.

  5. 1) guarded
    2) cherished
    3) prevaricate
    4) legitimate
    5) No correction required.
    Answer – 4) 
    Explanation: legitimate – conforming to the law or to rules.

  6. 1) impervious
    2) inadequate
    3) inferior
    4) unlawful
    5) No correction required.
    Answer – 5) 
    Explanation: No correction required.

  7. 1) illegitimate
    2) suspicious
    3) impregnable
    4) cockeyed
    5) No correction required.
    Answer – 2)
    Explanation: suspicious – having or showing a cautious distrust of someone or something.

  8. 1) inviolable
    2) cluttered
    3) unfit
    4) adhere
    5) No correction required.
    Answer – 4)
    Explanation: adhere – stick fast to (a surface or substance).

  9. 1) tended
    2) tangled
    3) inverted
    4) tumultuous
    5) No correction required.
    Answer – 5)
    Explanation: No correction required.

  10. 1) smacks
    2) safeguarded
    3) littered
    4) snug
    5) No correction required.
    Answer – 1) 
    Explanation: smacks – a sharp slap or blow, typically one given with the palm of the hand.