Memory technique for caro,2016

Mnemonic for Caro,2016 is in 3 parts

(i) F I L L your account with Deposit & Cost and utilise to pay statutory dues and dont make default in repayment of loans and borrowings (This covers clause (i) to clause (viii)

(ii)Make a IPO without fraud and pay managerial remuneration (For Clause (ix) to Clause (xi))

(iii) Ask your Secretary NIDHI to comply with related party for preferrrential allotment on non cash basis for registration with RBI

F-Fixed assets

I - Inventories

L - Loans under 189

L - Loans under 185 and 186 (Extract)

Deposit-Compliance with Provisions of deposit

Cost - cost records

Statutory dues - statutory dues

default in repayment on loans and borrowings

IPO - Money raised by ipo used for initial purpose?

fraud - Any fraud committed

Nidhi - Nidhi company complied with ratio

related party - compliance with sec 188 & 177

preference - compliance under sec 42

non cash basis - compliance under sec 192

RBI - required to register with RBI under 45IA

I hope it would make it easy for you to remember till Examination

All the best :)

Thank you so much Yash.....

Thank u for the superb memory technique.