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Company law-scary !!

Gaurav Mohnani (OWNER) (536 Points)

21 July 2013

GUYZ I'm TOO AFRAID OF STUDYING COMPANY LAW. I am taking munish bhandari's classes but KUCH SAMAJH NAHI AATA......

Please provide me some useful tips or any help on how to study it, because im not good in 'RATTAs'.

Thanks

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2 Replies

Rohit (CA-Final) (1485 Points)
Replied 21 July 2013

My personal advise would be first focus on Important areas, as it will boost your confidence:

1. Introduction to Companies (easy and Imp.)

2. Kinds of Companies (easy and Imp.)

3. M/A and A/A (little technical but imp.) - case studies can be asked

4. Prospectus (most technical but v.v.imp.) - case studies can be asked

5. Share Capital (easy and v.v.imp) - I don't think case studies will be asked

6. General Meeting (little technical but imp.) - case studies are v.v.imp. - I find this chapter most confusing

7. from remaing chapters - read som topics which are coming in exams in last 5-6 yrs.

Now how to prepare:

In M/A and A/A - ignore drafting or contents of M/A and A/A. First read some case studies as it will give you basic idea about these topics. Don't ignore Doctrines (they are m.imp)

In Prospectus - "Bhai, Friendly advise - Samjh agar na samjh aaye to Ratt le", because I think in Munsih Bhandhari sir book "Prospectus is given in very concised way" It is very difficult to understand Prospectus capter with such a limited content. It is sufficient for exam but not for understanding purpose. In prospectus language given is also very difficult. During my G1 I used to search on Google, CCI etc. to understand this chapter.

In Share Capital - Most Topics are from 12th syllabus so not a hard task to learn them and also read study mat. at least once because some topics are not so good in Munish Bhandari sir book. You may find great help in study mat. for this chapter.

In General Meeting - Try to understand this chapter by drawing a timeline. It will help you to understand Meetings more clearly. Also use Flowcharts in this chapter. Don't ignore Case studies from this chapter.

I hope my advise will help you. Don't ignore Practice Manual by ICAI for Law. May 2013 except 3 question of 12 marks, 104 marks questions were from practice manual by ICAI.

Rohit - Indian CA Helpers Blog

Rohan Deshmukh (Tax analyst) (638 Points)
Replied 29 February 2020

Not all the sections of Company act 2013 are applicable for CA IPCC law paper. For students registered in new scheme, sections from 1 to 148 are applicable where for the students registered in old scheme, sections from 1 to 122 (sections of dividend, accounts and audit are excluded in old scheme syllabus)( note that may 2020 is the last attempt for old scheme students) are only applicable.

Company law is very vast and contains lots of provisions which sometimes become difficult to cover for exams. Being a theory subject, if a student completes the applicable companies act then slowly slowly he/she starts to forget the provisions, time limit and monitory limits.

Talking about my experience, it took me 2 attempts to clear CA IPCC group 1 just because of law paper where I got only 37 marks in my first attempt but with a proper planning and studying I scored 59 marks in law in my second attempt and managed to pass the group. I was very much scared with theory paper because I tend to forget the provisions very easily and this affected my practical paper too. So following are some of the dos and don’ts for smartly studying law paper:

Focus on the important topics and sections - start your preparation with the important chapters from where frequent questions are asked in exams like management and administration, share capital and debentures, audit and accounts
Revision – keep 2 days reserved for revision in a week because learning is of no use if you are forgetting the provision you have studied earlier.
Learning technique – I use to make pattern which help me in visualizing the provisions contained in a section. E.g. some of the condition to issue DVRs is to pass SR, authority in article and DVRs should be less than or equal to 10% of total post issued capital including DVRs already issue. For this I made a pattern of (O A 26).

It is okay if you forget the section numbers or monitory limits during your weekly revision but is you consistently keep on revising the sections then you’ll start visualizing the monitory limits, time limits and even the section number in your mind.

I believe that only knowledge is not enough to crack the Chartered Accountancy exam, expression of knowledge is equally important. The examiner will award the marks on the basis of how well you are able to present the answers. I personally feel that writing mock test papers is the best way to improve your presentation skills. But which test series to choose? I strongly recommend Prepca test series to each and every CA aspirant because their ADAR report and counselling session are just perfect. Counselling session helped me to solve my personal doubts. The are pretty sure about the success of the student that unfortunately if you are not able to clear the exam, they will refund the 100% money back.

All the best!

Feedback appreciated!