Ca final may 2014 law helpline

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MAY 2014 CORPORATE ALLIED LAWS

Dear friends i am starting this forum where  we can discuss any question related to CA FINAL LAW PAPER  for MAY 2014. IF you have any doubt do post here .I wil try my best to resolve it . I also seek support and active participation of all CCI members to make this endeavour a sucess . ALL THE BEST to all my friends preparing for this exam.

CA Pratik Jain .

Do vist my facebook page for free notes ,audio files on law chapters etc.Here is the link: 

https://www.facebook.com/pages/CA-GUIDE/267311140095928

Replies (51)

HOW TO SCORE EXEMPTION IN LAW PAPER. CAN U PROVIDE SOME SPECIAL TIPS

Hai Is it necessary to study institute material to score exemption in law
Hai Is it necessary to study institute material to score exemption in law

Well how to score exemption in law.....?

According to me scoring exemption in law will not be easy unless and until students

*can remember various sections and can use the same in the examination wherever appropriate

*prefer presenting answers in points rather than in paragraphs

*go through previous question papers (prefer practice manual given by ICAI)

*try to Answer all the questions

*inculcate good writing skills such few words which seeks the attention of the evaluater 

no need to learn sections or case law.....it is my view as i got the exemption in tax;law and audit.

just understand the concept and make it in ur own language.not necessary the high level english or institute's language...and  DONT left a single question in exam always try to acheive full paper.

but in practicle paper just do the practice manual and module before exam atleast twice with ur hand.

i m sure u will get good marks witH logo of PASS..

Thank you so much sir for such a good initiatve.

Could you plz explain the scheme of Appointment of directors by way of Proportional Representation u/s 265. And also how exactly does it protect the interests of Substantial Minority shareholders.

 

Sir whaT APPROACH TO B FOLLOW FOR ACCOUNTING STANDARD IN CA FINAL N IN WRITTING AS QUES IN EXAM WHAT SORT OF PRESENTATION NEEDED

HOW TO GET EXEMPTION IN CA FINAL LAW PAPER

our friend sri rightly said the points .Yes quoting sections does make a difference .One has to write all the points needed by the examiner .one can refer suggested answers or practice mannual to understand which points are relevant for a particular answer .

Let me give one examle from SEC 327 A  i.e intercorporate loans and investments . In case a public company (say A ltd ) wanting to give loan to another private company (say ABC PVT LTD) in which director of A ltd has 26 % equity shares . WHat are the legal requirements ?

Now ICAI expects you to write about-

- Sec 372A in brief like unanimous approval of board ,SR if limits u/s 327 A is crossed 

- Sec 295 loan to specified persons ( since Director of A ltd has > 25 % shares in ABC pvt ltd)

- Sec 299 - interested director has to disclose his interest in BM 

- Sec 300 - interested director cannot vote on the matter nor counted in quorum at BM of A LTD while discussing the above matter.

So ICAI expects students to think of the answer from holistic view not just one or 2 implications.

APART FROM THIS STUDENT HAS TO STUDY ALLIED LAWS also. It has less weightage but topics are quite big , so it needs fair time to prepare . 

Learning the names of imp case laws like DR KAMAL KUMAR DUTTA VS RUBY HOSPITALS LTD ie notice of Board meeting  to director staying abroad etc also helps if u can write it in exam.

My suggestion to students will be dont go for mugging up these sections etc .Just while reading read them loud or be conscious of it ,after 2 reading of chapters your brain will retain many sections automatically .

I have also used memory codes in my notes of CA final law which again help a lot .Like 

In competition act its said the act does not apply on govt enterprise in areas of  space,defence ,currency and atomic energy . My memory code is   Sarkari Department Against Competition.

First letters S stands for space , next D stands for defence .A = atomic energy and C = currency. You can prepare your own memory code to learn various pts .

Do practice writing .refer RTP ,past year solved papers to get the feel of answers .try to give all points. Very short answer as given in munish sir`s HANDBOOK THAT TOO WITHOUT SECTIONS AND CASE LAWS IN EXAM wont help in case of 6-8 marks answer.

All d best . With right effort and attitude you can easily get 60 + in theory papers , 

CA Pratik Jain

Dear shwetha.  SEC 265 simplified .

Just imagine yourself as CEO of big company ( by gods grace you surely  will be 1 day )

NOW U ALONG WITH 2 OTHER HR PPL sit in an interview panel for selection of finance manager for your group company . Number of vaccancies are 2 and 4 candidates appear for interview.

First candidate appears . You like his knowledge and want to select him but the other two panel members think otherwise ,they dont like the color of candidates tie .So that candidate gets rejected as majority of panel was against his selection .

Then second candidate comes in . She has no knowledge but is  very pretty . You think she is dumb but other panelists (assuming both are men and straightwink !!) select her. Again aginst your wish a selection has been made .

The process continues 2 more candidates appear.

That is what happens when you are reduced to minority .The majority will form a group and all resolutions will get a simple majority and get passed .Minority will have no say in any matter.

Let us change the selection process . 

Now the after interviews are over name of respective candidates are written over respective ballot (vote ) boxes . each member of the panel has 1 vote .he can write name of preferred candidate and drop the chit in box having that candidates name. The candidates having most number of chits in their box wins . Now even if the two male panelists combine and give their votes to the pretty candidate , our very own shwetha (CEO ) will have one vote to her favourite candidate.

This way at least there is one person of minority`s choice who got selected .

This concept of proportional representation helps minority shareholders to concentrate their vote on 1 candidate while selction of directors goes on in Annual general meeting  and they can  have their representative in the board of directors.

Plz read  end of Page 5 and start of page  6 of my notes (attached herewith) to see example of how its applied in Comapnies .

Dear amazing , There is no rule that you have to read ICAI study material only . It may not harm but it is not user friendly unless you are good at mugging up . Is it in chart form? points form? does it has memory codes ? If it has anything special to make learning easy refer it .personally i wont recommend it . Anways since i teach law i will be biased towards my notes . But do refer icai suggested answers ,rtps etc do understand how to write long answers. 

All the best !!

Hi Pratik Jain,

Please upload your notes in this Forum, so that lot of the students will benifited.

Dear sultan . I am selling the  FULL notes for just  Rs 550 along with audio recordings to understand for all the chapters . I am a newly qualified CA . I am not doing HIGH SALARY joB . i HAVE MY SMALL PRACTICE WHICH AGAIN IS ALL BY MYSELF AND IN ITS  INITIAL PHASE . TEACHING IS MY first love but i do it part time . I am not a Big shot like Munish Bhandari Sir . i too have a family to support .I am not begging .Nor I am forcing anybody to buy my notes . All i want to make clear is that i am all for helping all students .If god is kind on me i would do everything free of cost but right now i want to reach to most students . I am doing my bit by resolving queries free of cost . A lot of stuff is written in books but never understood by students .I am trying to clear out those things .But i cannot give my notes free of cost . AT Rs 550 it is not going to make me millionare considering i have no backing of big book sellers and have to incurr decent cost in delivering these notes .my price reflects i do care for students . 

My reply may sound rude or arrogant but it is straight from heart . try to understand my position .

CA PRATIK JAIN.

Thank you so much Pratik Sir :-) Beautifully explained. Indeed as u said if i become a CEO i ll surely adopt this method.

CA FINAL INTERPRETATION OF STATUTE EXPLAINED    free audio file

plz check my FB page for Audio explaining INTERPRETATION OF STATUTE
imp for ca final and cs inter.
https://www.facebook.com/pages/CA-GUIDE/267311140095928


CCI Pro

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