IN PAPER NO. 02 i.e LAW IN IPCC EXAM MAY 2014 ONE QUESTION IS MISPRINTED. PAPER CODE “JCR” QUESTION NO. 1(b)
“Anson limited held equity shares in Booban limited. Lateron Anson limited became a subsidiary co. of Booban limited . Decide under the companies act 1956 whether it is necessary for Anson limited to surrender the equity shares of Booban limited ?”
In second line “Lateron Anson limited” is wrongly printed.It should be written as “Later on Anson limited” and due to this fault I answered question considering Lateron anson limited as company name & treated as different company from Anson limited according to companies act, 1956. & since both company is different so anson is not subsdiary of Booban limited so anson not need to surrender the equity shares. When I meet teacher & discuss answer he told me that this word is misprinted.
will i get any marks? this qsn carry 5 marks.
manner and why i cannot consider that lateron word as part of company name. it is clearly visible that taking lateron as part of name then also question is correct and in that sense applying common sense
CAclubindia
