Ca final may 2014 law helpline

hello sir hare krisna help me regarding allied laws 

1. Yes this remittance under technical collaboration point is deleted but ICAI does not update its mat .Plz give alternative answers citing new and old legal position (no option buddy!!)

2. P and I stands for Protection and Indemnity Insurance .Its popular marine insurance provided by P & I club .This P and I club works like a cooperative scheme which provides risk cover to its members who are mainly ship owners and ship operators.If indian ship owners wants to join this international club he must pay membership fees in Foreign currency terms .for such remittance CG approval is needed.

3.In Nepal and Bhutan rupee transactions allowed .So  govt bannned drawal of Forex for visting or dealing with these 2 countries .Read below :

In terms of Reserve Bank Notification No FERA.7/74-RB dated 1st January 1974, for purpose of transactions in Indian rupees, undernoted categories of persons, firms, companies (including banks), et. resident in Nepal and Bhutan are treated as resident in India---

1. Indians, Nepalese or Bhutanese resident in Nepal or Bhutan.

Dear payal jai sri krishna .

Plz check my FB page for allied laws audio . Imp chapters of allied law I will explain there .Hope it helps .All d best

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

 

CA Pratiik Jain

thanks sir and also have querry regarding co. law

my question is whether increament in sitting fees as per provisions of sec 310 & 311 attracts the provisions of sec 299 means whether called as intersted or not? plz explain with reasons?

Pratik sir,

Can you please list the Allied Laws in terms of importance from examination point of view? 

dear payal srry 4 d delay (march pressure u knw)

Sitting fees is given to non executive directors of the company who attended the meeting and if the director attended the meeting he is entiled for sitting fees.
Section 300 does not have any thing to do with sitting fees.If the director is present in the meeting for the purpose to participate in the proceedings in the meeting The sitting fees is payable to him whether no business could be transacted at that meeting. This has been clarified vide circular no. 1 of 1972 dated 2-2-1972.

I think increase in sitting fees does not attrct sec299 or sec 300 .

Just check below limits

	Distribution of Remuneration
Part time directors this  fees cannot be paid to wtd/md. If it is paid then it shall be treated as part of their remuneration. It is paid only once in case of adjourned BM It can be  paid even in case of loss	Fees for attending each BOARD MEETING or Committee Meeting(Sitting Fees) .MAX per Dir per BM is as follows: Rs 20000 If agg PUC+FR ≥10 cr  OR Rs 20000 Ift/o ≥50 cr Rs 10000 In any other case  beyond above limits Cg approval

dear udit in allied law any topic may b asked so preapare all of them .

Still order of preference is:

1..interpretation of statutes deeds documents (5 marks every term)

2. FEMA (5 marks minimum asked)

3. Comepetition

4. SCRA

5. SARFAESI act

6.SEBI act and ICDR (5-10 marks but very tough bco too many guidelines)

7. Other chapters money laundering ,banking ,insurance etc

Leave sebi prepare first 5 then just read money laundering ,banking etc questions from mannual and last 2 term rtp .If still have time n energy go for sebi in last .

All d best !!

 

Hi sir. I need to purchase ur notes can u please share me details of ur notes. Do u have audio files for all subjects ? How do I receive them I am not in India.

hello sir  one more querry regarding celing limit on audit as per CA ACT 

is it 30 or 45 including private companies ?

companies act ke according to 20 hai excluding private companies.

ICAI etics is very clear statutory audit limit is 30 including private companies. For tax audit it is 45 .

My email id is pratikn111 @ gmail.com .I only have law notes .For notes you can contact - 09331245148

thank u sir i'm confused in this bcoz kisi book me icai notification ke according 45 audits diya hua hai including private co.

Dear Sir, pls help in solving the below doubt; MD has been appointed in a Public co.in accordance with Schedule XIII complying the conditions of both Part I & Part III. Company has adequate profits. Now, whether Managerial remuneration is to be paid as per Sec.309, 198 or as per Section I of Part II of Sch XIII. Becoz, I didn't found Sec I of Part II of Sch XIII in many books. Some books says that; where a MD is appointed with the approval of CG, then remuneration shall be higher of Sec.309,198 or Sec II of Part II of Sch III

. If MD is appointed in accordance with Sch XIII, then remuneration shall be higher of Section I or Section II of Part II of Sch XIII. Some books not at all mentioned abt Sec I of Part II of Sch XIII. As per some authors, Section II of Part II shall be applied only when inadequate profit or loss even in case of MD appointed with CG approval. Also, overall remu.limit as per Sec.198 is confined only to Sec.309&387 or it also extends to remuneration as per Sch XIII. Kindly help me in solving this doubt. Thank u sir.

Dear Sir, pls help in solving the below doubt sir; MD has been appointed in a Public co.in accordance with Schedule XIII complying the conditions of both Part I & Part III. Company has adequate profits. Now, whether Managerial remuneration is to be paid as per Sec.309, 198 or as per Section I of Part II of Sch XIII. Becoz, I didn't found Sec I of Part II of Sch XIII in many books. Some books says that; where a MD is appointed with the approval of CG, then remuneration shall be higher of Sec.309,198 or Sec II of Part II of Sch III . If MD is appointed in accordance with Sch XIII, then remuneration shall be higher of Section I or Section II of Part II of Sch XIII. Some books not at all mentioned abt Sec I of Part II of Sch XIII. As per some authors, Section II of Part II shall be applied only when inadequate profit or loss. Also, overall remu.limit as per Sec.198 is confined only to Sec.309&387 or it also extends to remuneration as per Sch XIII. Kindly help me in solving this doubt. Thank u sir.