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PCC LAW HELP !!!

rachit (PCC Student) (79 Points)

26 February 2010

Hi Friends

I want to know for law do we need to remember sections also? if yes can you tell me which are the important ones?

also how to get good marks in theory papers like law and audit??

really appreciate your help :)

thanks a lot !!

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9 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 26 February 2010

Dear Rachit,

As per my suggestion you should write sections at the PCC level. Kindly make it a habit to remember sections as later on it will help you a lot when you start preparing for CA final or other professional examinations. Section knowledge is also very important for your professional working. It is 100% true.

But write the section only if you are sure, otherwise leave it.

However let me tell you one thing you can easily clear your CA without sections but for me it is all about standards. Now the choice is yours.

Find attached herewith a useful file regarding law writing tips.

Best Regards

Attached File : 49 law exam tips for csca pcc students.doc downloaded: 191 times

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 26 February 2010

Please find below some of the important sections for PCC law:

1. Section- 17A-change of regd. Office within a state.

2. Section- 21-Change of name of the company

3. Section- 35- conclusiveness of COI

4. Section- 45

5. Section- 53- service of documents on member by company

6. Section- 56, 57 and 58-Prospectus

7. Section- 58A and 58AA – Deposit

8. Section- 60A and Section 60B

9. Section- 77A- Buyback of shares

10. Section- 78- Issue of share on premium

11. Section- 79- Issue of share on discount

12. Section- 79A- Issue of sweat equity shares

13. Section- 81- Right issue of capital

14. Section- 108-Transfer of shares

15. Section- 125-Registration of charge

16. Section- 149-Restrictions on commencement of business

17. Section- 163-Place of keeping registers

18. Section- 166-AGM

19. Section- 169-EGM

20. Section- 171- Length of notice

21. Section- 174-Quorum of the general meeting.

22. Section- 176-Proxy

23. Section- 187

24. Section- 192A- Postal ballot

25. Section- 193-Minutes

26. Section- 208- Payment of interest out of capital

Also find enclosed herewith tips to deal with theory paper.

Attached File : 30 real time tips to deal with theory paper.pdf downloaded: 163 times

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 26 February 2010

Download some of my PCC law files from the link below:

PCC CHAPTER WISE LAW NOTES--PART-I

PCC CHAPTER WISE LAW NOTES PART-II

Also find enclosed herewith tips to deal with practical paper.

Attached File : 1 real time tips for practical paper account and cost.pdf downloaded: 150 times

rachit (PCC Student) (79 Points)
Replied 26 February 2010

Dear Ankur Sir,

Really appreciate your help ! Thanks a lot for all the valuable tips !

I'll be in touch with you for more tips n tricks.

thanks again.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 26 February 2010

Thanks Rachit for the comment. You are always welcome.

rachit (PCC Student) (79 Points)
Replied 26 February 2010

Ankur Sir,

One more thing i wanted to know is ...is it better to write in point form in theory papers or traditional essay form? also when u say point form u mean different paragraphs or actually putting points(number)?

like for eg:

audit is a theory paper

so is law

or:

1. audit is a theory paper

2. so is law

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 26 February 2010

Avoid the Essay keeping in view the present exam pattern.

It is always better to write in points. However a short para with crisp details is not bad at all.

But for converting theory contents in to points prior preparation is really necessary. Prior preparations means practice or your own notes.

For example it is very simple for me to convert anything into points but it may not be easy for other student. To conclude blind adherance (without preparation) of any method or suggestion is equal to suicide. Hope you got the point.

rachit (PCC Student) (79 Points)
Replied 27 February 2010

I am sorry to bother you again. But i need your help in converting an essay type to a point type. illustration is below. if you can kindly convert this to the type of answer you will write in the exam it'll be a huge help !

thanks a lot.

and sorry for the trouble

Q) E and S were appointed joint auditors of X and Y ltd. What will be their professional responsibility in a case where company has cleverly concealed certain transactions that escaped the notice of both the Auditors?

ans). In conducting a joint audit the auditor should bear in mind the possibility of existence of any fraud or error or any other irregulatries in the accounts under audit. The principles laid down in sa 200a, sa 240 and sa 299 need to be read together for arriving at any conclusion. The principle of joint audit involves that each auditor is entitled to assume that other joint auditor has carried out his part of work properly. However. in this case if it can be assumed that the joing auditors e and s have exercised reasonable care and skill in auditing the accounts of x and y ltd and yet the concealment of transaction has taken place both joint auditors cannot be held responsible for professional negligence. However if such concealment could have been discovered by the exercise of reasonable care and skill the auditors would be responsible for professional negligence. Therefore it has to been seen that while deviding the work joint auditors have not left any area unattended and exercised reasonable care and skill while doing their work.

(as per compiler)

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 27 February 2010

If you convert this solution into points the impact would be just half. However you may present it in the form below:

Answer:

In conducting a joint audit the auditor should bear in mind the possibility of existence of any fraud or error or any other irregulatries in the accounts under audit.

Further in the above mentioned case principles laid down in sa 200a, sa 240 and sa 299 need to be read together for arriving at any conclusion. The principle of joint audit involves that each auditor is entitled to assume that other joint auditor has carried out his part of work properly. However in this case if it can be proved that the joint auditors e and s have exercised reasonable care and skill in auditing the accounts of x and y Ltd and yet the concealment of transaction has taken place both joint auditors cannot be held responsible for professional negligence.

However if such concealment could have been discovered by the exercise of reasonable care and skill the auditors would be responsible for professional negligence.

To conclude it has to been seen that while deviding the work joint auditors have not left any area unattended and exercised reasonable care and skill while doing their work.