MCQs & Integrated Case Studies on Corporate & Economic Laws are prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 6th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Knowledge Based & Application Based MCQs] as per the pattern applicable for the exams
• Includes the following types of MCQs in a Separate Section in Each Chapter:
◦ RTPs & MTPs
◦ Past Exam Questions
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) 5th Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [7th Edition] of Taxmann’s CRACKER cum Exam Guide on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies + Class Notes
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• NCLT and NLCAT
• Corporate Secretarial Practice
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 | Deleted from Syllabus
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002) | Deleted from Syllabus
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
• Integrated Case Studies
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India.
The objective of this book is three-fold:
• Focusing on Indian Competition Law, elucidating the Indian jurisprudence and then comparing it with positions taken by European Union (EU) and the United States
• This book does not get restricted to the major provisions/broader issues of competition law but also highlights economic, technical and administrative concepts/issues that are relevant in the practical application and interpretation of competition law
• This book does not become a technical treatise but a document that a wider audience can read and understand, including lawyers, judges, academicians, lawmakers, market regulators, & entrepreneurs.
The Present Publication is the Latest Edition, authored by Adv. Gautam Shahi & Dr. Sudhanshu Kumar, amended up to 30th May 2021, with the following noteworthy features:
• [Detailed Study on Fundamental Issues] including:
o Anti-Competitive Agreements
o Abuse of Dominant Position
o Combinations (Acquisitions and Mergers)
• [Evolution of Competition Jurisprudence] in India
• [Comparitive Assessment] of major issues in Indian competition law with vis-à-vis EU, UK, and the USA
• [Exhaustive Analysis] on Rules, Regulations, Guidance issued by CCI & Case Laws decided by the CCI, COMPAT (now NCLAT), High Courts, and the Supreme Court
• [Interaction of Competition Act with other Laws] such as:
o Administrative Law
o Intellectual Property Laws
o Telecom Laws
The document discusses different types of business organizations. It begins by defining key business terms like types, sizes, and ownership. It then outlines the main categories of for-profit organizations like individual firms, private companies, and public companies. Not-for-profit organizations include government organizations and non-governmental organizations. Individual firms can be sole proprietorships or partnerships. Private companies include one person companies, limited liability partnerships, and private limited companies. After two years, an OPC (one person company) can convert into a private or public limited company.
The document is a project report submitted by Mr. Kishan Kumar Sharma to Aurora's Business School analyzing the ratio performance of IDBI Federal Life Insurance Co Ltd. over three years from 2011-2012 to 2013-2014. The report contains an introduction on the importance of ratio analysis, the theoretical background of insurance ratio analysis, an industry analysis of the life insurance sector, a company profile of IDBI Federal Life Insurance, objectives, methodology and detailed analysis of key financial ratios of the company along with conclusions.
This document analyzes India Infoline Financial's gold loan products and services in India. It aims to understand client satisfaction, perceptions of financial products, and awareness of gold loans. India Infoline is a subsidiary of India Infoline Limited that provides products like gold loans, healthcare loans, property loans, and mortgages. The document describes India Infoline's management, values, vision, SWOT analysis, gold loan process, schemes and interest rates. It also presents research methodology and data analysis from a survey on clients' occupation, awareness and usage of gold loans, satisfaction levels and perceptions of interest rates. The conclusion recommends better advertising and services to increase awareness of gold loan services.
1.Goods & Service Tax
2. Cover Page
3. Declaration
4. Certificate
5. Acknowledgement
6. Executive Summary
7. Elements of Report
8. Table of Contents
1 General Introduction
1.1 Brief Profile of Company
1.2 Brief Profile of the Management
1.3 Background of the Study
1.4 Objective of the Study
2 Theoretical Framework of Study
2.1 Meaning of Goods & Service Tax [GST], its Features and Deficiencies in Current VAT System
2.2 History of GST
2.3 Genesis/ Evolution of GST in India
2.4 Framework of GST in India
2.5 Taxes Subsumed Under GST
2.6 Goods outside the purview of GST
2.7 Advantages & Disadvantages of the GST
2.8 Model/ components of GST
2.9 Rates of Tax in GST
2.10 GST Council
2.11 GSTN and GSTIN
2.12 GST Registration
2.13 Invoicing Under GST
2.14 ITC Utilization Rules
2.15 GST Forms & Returns
3 Nature, Conceptual Framework & Methodology of the Study
3.1 Old Tax Structure vs New Tax Structure
3. 2 Study of Purchase / Sales Invoices
3.3 Arrangements of Purchase Invoices
3.4 Reconciliation of GSTR 2A with Books
3.5 Raising of Self Invoices under RCM
3.6 Verification of records under GST
3.7 Study of MIS for ease filing of Returns
3.8 Preparation of GST Reconciliation Statement
4. Conclusion
References
An analysis of demat account and online tradingProjects Kart
This document provides an overview of online share trading and dematerialization in India. It includes an executive summary that outlines the key benefits of online trading and dematerialization, such as faster trading and reduced costs compared to physical brokers. It also lists the objectives and scope of the project report. The industrial overview provides background on the history of online trading. The company profile section gives details on Indiabulls Financial Services, including its history, profile, products/services and growth. Overall, the document aims to analyze awareness of online trading and dematerialization among investors in India.
This document summarizes a study on target customer behavior and marketing approach for IDBI Federal Life Insurance Company. It identifies key managerial problems such as lack of brand awareness and trust. Through qualitative and quantitative research involving surveys and segmentation, it analyzes customer perceptions, preferences and behavior across different income and age groups. The results show gaps in IDBI Federal's marketing activities and awareness. Recommendations focus on targeting specific income segments, positioning products as lower risk options, and boosting marketing efforts through referrals and newspapers.
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India.
The objective of this book is three-fold:
• Focusing on Indian Competition Law, elucidating the Indian jurisprudence and then comparing it with positions taken by European Union (EU) and the United States
• This book does not get restricted to the major provisions/broader issues of competition law but also highlights economic, technical and administrative concepts/issues that are relevant in the practical application and interpretation of competition law
• This book does not become a technical treatise but a document that a wider audience can read and understand, including lawyers, judges, academicians, lawmakers, market regulators, & entrepreneurs.
The Present Publication is the Latest Edition, authored by Adv. Gautam Shahi & Dr. Sudhanshu Kumar, amended up to 30th May 2021, with the following noteworthy features:
• [Detailed Study on Fundamental Issues] including:
o Anti-Competitive Agreements
o Abuse of Dominant Position
o Combinations (Acquisitions and Mergers)
• [Evolution of Competition Jurisprudence] in India
• [Comparitive Assessment] of major issues in Indian competition law with vis-à-vis EU, UK, and the USA
• [Exhaustive Analysis] on Rules, Regulations, Guidance issued by CCI & Case Laws decided by the CCI, COMPAT (now NCLAT), High Courts, and the Supreme Court
• [Interaction of Competition Act with other Laws] such as:
o Administrative Law
o Intellectual Property Laws
o Telecom Laws
The document discusses different types of business organizations. It begins by defining key business terms like types, sizes, and ownership. It then outlines the main categories of for-profit organizations like individual firms, private companies, and public companies. Not-for-profit organizations include government organizations and non-governmental organizations. Individual firms can be sole proprietorships or partnerships. Private companies include one person companies, limited liability partnerships, and private limited companies. After two years, an OPC (one person company) can convert into a private or public limited company.
The document is a project report submitted by Mr. Kishan Kumar Sharma to Aurora's Business School analyzing the ratio performance of IDBI Federal Life Insurance Co Ltd. over three years from 2011-2012 to 2013-2014. The report contains an introduction on the importance of ratio analysis, the theoretical background of insurance ratio analysis, an industry analysis of the life insurance sector, a company profile of IDBI Federal Life Insurance, objectives, methodology and detailed analysis of key financial ratios of the company along with conclusions.
This document analyzes India Infoline Financial's gold loan products and services in India. It aims to understand client satisfaction, perceptions of financial products, and awareness of gold loans. India Infoline is a subsidiary of India Infoline Limited that provides products like gold loans, healthcare loans, property loans, and mortgages. The document describes India Infoline's management, values, vision, SWOT analysis, gold loan process, schemes and interest rates. It also presents research methodology and data analysis from a survey on clients' occupation, awareness and usage of gold loans, satisfaction levels and perceptions of interest rates. The conclusion recommends better advertising and services to increase awareness of gold loan services.
1.Goods & Service Tax
2. Cover Page
3. Declaration
4. Certificate
5. Acknowledgement
6. Executive Summary
7. Elements of Report
8. Table of Contents
1 General Introduction
1.1 Brief Profile of Company
1.2 Brief Profile of the Management
1.3 Background of the Study
1.4 Objective of the Study
2 Theoretical Framework of Study
2.1 Meaning of Goods & Service Tax [GST], its Features and Deficiencies in Current VAT System
2.2 History of GST
2.3 Genesis/ Evolution of GST in India
2.4 Framework of GST in India
2.5 Taxes Subsumed Under GST
2.6 Goods outside the purview of GST
2.7 Advantages & Disadvantages of the GST
2.8 Model/ components of GST
2.9 Rates of Tax in GST
2.10 GST Council
2.11 GSTN and GSTIN
2.12 GST Registration
2.13 Invoicing Under GST
2.14 ITC Utilization Rules
2.15 GST Forms & Returns
3 Nature, Conceptual Framework & Methodology of the Study
3.1 Old Tax Structure vs New Tax Structure
3. 2 Study of Purchase / Sales Invoices
3.3 Arrangements of Purchase Invoices
3.4 Reconciliation of GSTR 2A with Books
3.5 Raising of Self Invoices under RCM
3.6 Verification of records under GST
3.7 Study of MIS for ease filing of Returns
3.8 Preparation of GST Reconciliation Statement
4. Conclusion
References
An analysis of demat account and online tradingProjects Kart
This document provides an overview of online share trading and dematerialization in India. It includes an executive summary that outlines the key benefits of online trading and dematerialization, such as faster trading and reduced costs compared to physical brokers. It also lists the objectives and scope of the project report. The industrial overview provides background on the history of online trading. The company profile section gives details on Indiabulls Financial Services, including its history, profile, products/services and growth. Overall, the document aims to analyze awareness of online trading and dematerialization among investors in India.
This document summarizes a study on target customer behavior and marketing approach for IDBI Federal Life Insurance Company. It identifies key managerial problems such as lack of brand awareness and trust. Through qualitative and quantitative research involving surveys and segmentation, it analyzes customer perceptions, preferences and behavior across different income and age groups. The results show gaps in IDBI Federal's marketing activities and awareness. Recommendations focus on targeting specific income segments, positioning products as lower risk options, and boosting marketing efforts through referrals and newspapers.
A Presentation on Bajaj Finance, consisting of Company Overview, Leadership, Share-holding pattern, Swot Analysis, Competition Analysis, Conclusion & A way forward.
Comparative Analysis of Financial Statement OfIT industriesPranav Veerani
Comparative Analysis of Financial Statement
OfIT industries
INTERNATIONAL ACCOUNTING PRACTICES
GRADUATE SCHOOL OF MANAGEMENT STUDIES
Comparative Analysis
Introduction of IT industry
TCS
Infosys Limited
HCL Technologies
Wipro Ltd
Tech Mahindra Ltd.
Comparative of company
Gujarat Technological University, Ahmadabad
Academic Year: 2018-20
Pankaj Sharma completed a 45-day internship at The Kangra Central Co-operative Bank Ltd to fulfill the requirements for an MBA degree. The report provides an overview of the bank's general banking and credit departments. It includes details of the internship structure, time spent in different departments, objectives, and activities performed. The document also gives a brief introduction of the bank, discussing its history, operations, products, and organizational structure. A SWOT analysis of the bank is presented to evaluate its strengths, weaknesses, opportunities and threats.
A project report on comparative analysis of demat account and online tradingProjects Kart
The document provides an overview of Indiabulls, an Indian financial services company. It discusses Indiabulls' profile, including that it was founded in 2000 and is headquartered in Mumbai. It offers various financial products and services through over 640 branches across India. The document also provides details on Indiabulls' key business areas, employees, leadership, and financial performance.
The document provides background information on the insurance industry in India. It discusses how the industry was nationalized in 1956 but opened up to private players in the 1990s. Currently there are 52 insurance companies operating in India, with the life insurance industry experiencing a decline in growth of 1.57% in 2011-12. The insurance sector has significant growth potential as penetration rates remain low compared to other Asian countries, providing opportunities for interested companies.
EQUITY RESEARCH OF AUTOMOBILE SECTOR FOR RETAIL INVESTORAnand Kumar
This document provides an overview of equity research and the automobile industry in India. It discusses what equity research is, its purpose and scope. It also discusses fundamental and technical analysis techniques used in equity research. The document then provides an introduction to the automobile industry in India, including key statistics on production, exports, growth drivers and the major automobile hubs. It also gives an overview of 10 automobile companies that will be analyzed as part of an equity research project on the automobile sector aimed at retail investors.
This newsletter is from Raju and Prasad Chartered Accountants. It contains articles on the Financial Resolution and Deposit Insurance Bill, 2017 and an industry review of the banking sector in India. The editorial comments on the proposed bill which aims to create a framework for resolving financial firms in distress through liquidation or other measures, superseding existing laws. It also discusses deposit insurance which may not fully protect depositors. The industry review provides a history of banking in India from ancient times to the present, describing regulatory mechanisms, legislative support, banking networks and reforms over time.
The document is a project report submitted by U.Sindhu to VIT Business School in partial fulfillment of the requirements for a Master's degree in Business Administration. The project examines customer retention at IDBI Federal Life Insurance Corporation Limited. It includes an introduction outlining the importance of customer retention, objectives of the project, scope, methodology, and limitations. It also provides a literature review on topics related to customer retention including definitions, importance, advantages, and factors that influence retention.
This document is a project report on the brand awareness of IDBI Federal Life Insurance Co Ltd. It was submitted by Ribu Abraham Varghese to Aurora's Business School in partial fulfillment of a postgraduate diploma program. The report contains an introduction to the insurance sector, the objectives and scope of the study, and the methodology used. It also includes tables, figures, acknowledgments and a certificate of completion. The main focus of the report is to analyze and assess the brand awareness of IDBI Federal Life Insurance among consumers.
This document provides an overview of IDBI Federal Life Insurance Company, including its sponsors and joint venture partners. IDBI Federal is a joint venture between IDBI Bank, Federal Bank, and Ageas, a European insurance giant. IDBI Bank owns 48% equity, while Federal Bank and Ageas each own 26% equity. The company offers life insurance and retirement products through the branches of IDBI Bank and Federal Bank, as well as advisors and partners. As of January 2011, the company had over 2.68 lakh policies with Rs. 14,230 crores of sum assured. The sponsors, IDBI Bank and Federal Bank, are described as leading Indian banks.
This document provides a project report on a descriptive analysis of depository participants with Stock Holding Corporation of India Ltd (SHCIL). It includes declarations, acknowledgements, executive summaries and details on opening and maintaining demat accounts with SHCIL. The objectives are to understand investor perceptions of depository participants (DPs), ascertain SHCIL's competitive position, develop SHCIL strategies to improve its market share, and offer suggestions. Limitations include the study being limited to one SHCIL branch and constraints of time and information access.
This document is a summer training project report submitted by Rahul Pal for their MBA program. The report analyzes the financial statements of IDBI Federal Life Insurance Co. Ltd. over several years. It includes an introduction to the insurance industry in India and background on IDBI Federal Life Insurance. The report then covers literature review, research methodology, analysis of financial statements including comparative statements, ratios, findings and suggestions. The analysis examines the financial performance and strength of IDBI Federal Life Insurance.
This document is a summer training project report submitted by Vivek Kumar, a student of BBA at Tecnia Institute of Advanced Studies in Delhi, India. The report studies online trading at Sharekhan Ltd, an Indian brokerage firm. It includes an executive summary, objectives, introduction to online trading and Sharekhan's profile, a SWOT analysis, financial analysis, and learning from the training experience. The report aims to analyze changes in trading after India's stock exchange shifted to online systems and understand Sharekhan's online trading platform and network configuration.
This document discusses customer retention at IDBI Federal Life Insurance Co. Ltd. in Hyderabad, India. It aims to study the factors that help IDBI retain customers and identify ways to improve customer satisfaction. A survey was conducted of 120 existing customers. The results found that over 60% of customers were satisfied with their experience and benefits. However, only 33% felt IDBI offers higher benefits than competitors. The document recommends ways for IDBI to retain customers like offering rewards for continuous purchase, gifts, and membership programs. It suggests developing policies targeting unmarried customers and increasing promotions to educate all customer types.
This article focuses upon certain practices and scheme of ADR in India in the form of question and answer format related to ADR, its nature of conduct whether ad hoc or administered; available platforms or forums for a better understanding to commoners and budding ADR practitioners.
This document appears to be a training report submitted by Jyoti Priya Roul analyzing the financial statements of IDBI Federal Life Insurance Co Ltd. over multiple years to evaluate the company's performance and financial health. The report includes declarations, certificates, acknowledgements, tables of contents, and chapters covering the insurance industry, company profile, literature review, research methodology, financial statement analysis including ratios, findings, suggestions and conclusions.
This document provides information about IDBI Federal Life Insurance, including its sponsors IDBI Bank and Federal Bank. IDBI Federal is a joint venture between IDBI Bank, Federal Bank, and Ageas, an insurance company based in Europe. The document discusses IDBI Federal's rapid growth since inception in 2008. It also provides background on IDBI Bank and Federal Bank, the leading development bank and private sector bank in India that sponsor IDBI Federal.
Sani singh final report of summer intership pgdmSani Singh
This document provides a project report on a study of the sales process and mutual funds at ShareKhan Ltd. It begins with declarations and acknowledgements. It then provides an executive summary and goes into details about ShareKhan as a company, including its hierarchy, SWOT analysis, and problems. It describes the author's job and responsibilities as a summer trainee, including generating leads, analyzing calls, and client preferences. It also provides information on mutual funds, the author's learning outcomes, and recommendations/limitations. The report aims to provide knowledge of ShareKhan's products/services and increase market awareness.
This document is a report on factors affecting investment decisions and the competitive advantages of Indiabulls Securities. It begins with an introduction to Indiabulls and outlines the objectives, methodology, and scope of the project. It then provides an overview of the financial industry and brokerage sector in India. It analyzes Porter's 5 forces model, demand and supply drivers, domestic and global economic conditions, and the critical success factors of the industry. It also examines Indiabulls' business model, products, strategies, SWOT analysis, and competitive positioning. Finally, it identifies and interprets key factors influencing individual investment decisions and compares Indiabulls' services to competitors.
WHAT IS NIDHI COMPANY? AND WHAT IS THE ADVANTAGES OF NIDHI COMPANY REGISTRATIONRishabhparihar8
Corpseed is the best startup consultant offering various registration services such as Real Estate Company Registration, Associate Company Registration, LLP Registration, Company Registration, TPS Registration, Copyright Registration, Trademark Registration ISO and other FSSAI licenses, etc.
For more Detail visit these sites.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
A Presentation on Bajaj Finance, consisting of Company Overview, Leadership, Share-holding pattern, Swot Analysis, Competition Analysis, Conclusion & A way forward.
Comparative Analysis of Financial Statement OfIT industriesPranav Veerani
Comparative Analysis of Financial Statement
OfIT industries
INTERNATIONAL ACCOUNTING PRACTICES
GRADUATE SCHOOL OF MANAGEMENT STUDIES
Comparative Analysis
Introduction of IT industry
TCS
Infosys Limited
HCL Technologies
Wipro Ltd
Tech Mahindra Ltd.
Comparative of company
Gujarat Technological University, Ahmadabad
Academic Year: 2018-20
Pankaj Sharma completed a 45-day internship at The Kangra Central Co-operative Bank Ltd to fulfill the requirements for an MBA degree. The report provides an overview of the bank's general banking and credit departments. It includes details of the internship structure, time spent in different departments, objectives, and activities performed. The document also gives a brief introduction of the bank, discussing its history, operations, products, and organizational structure. A SWOT analysis of the bank is presented to evaluate its strengths, weaknesses, opportunities and threats.
A project report on comparative analysis of demat account and online tradingProjects Kart
The document provides an overview of Indiabulls, an Indian financial services company. It discusses Indiabulls' profile, including that it was founded in 2000 and is headquartered in Mumbai. It offers various financial products and services through over 640 branches across India. The document also provides details on Indiabulls' key business areas, employees, leadership, and financial performance.
The document provides background information on the insurance industry in India. It discusses how the industry was nationalized in 1956 but opened up to private players in the 1990s. Currently there are 52 insurance companies operating in India, with the life insurance industry experiencing a decline in growth of 1.57% in 2011-12. The insurance sector has significant growth potential as penetration rates remain low compared to other Asian countries, providing opportunities for interested companies.
EQUITY RESEARCH OF AUTOMOBILE SECTOR FOR RETAIL INVESTORAnand Kumar
This document provides an overview of equity research and the automobile industry in India. It discusses what equity research is, its purpose and scope. It also discusses fundamental and technical analysis techniques used in equity research. The document then provides an introduction to the automobile industry in India, including key statistics on production, exports, growth drivers and the major automobile hubs. It also gives an overview of 10 automobile companies that will be analyzed as part of an equity research project on the automobile sector aimed at retail investors.
This newsletter is from Raju and Prasad Chartered Accountants. It contains articles on the Financial Resolution and Deposit Insurance Bill, 2017 and an industry review of the banking sector in India. The editorial comments on the proposed bill which aims to create a framework for resolving financial firms in distress through liquidation or other measures, superseding existing laws. It also discusses deposit insurance which may not fully protect depositors. The industry review provides a history of banking in India from ancient times to the present, describing regulatory mechanisms, legislative support, banking networks and reforms over time.
The document is a project report submitted by U.Sindhu to VIT Business School in partial fulfillment of the requirements for a Master's degree in Business Administration. The project examines customer retention at IDBI Federal Life Insurance Corporation Limited. It includes an introduction outlining the importance of customer retention, objectives of the project, scope, methodology, and limitations. It also provides a literature review on topics related to customer retention including definitions, importance, advantages, and factors that influence retention.
This document is a project report on the brand awareness of IDBI Federal Life Insurance Co Ltd. It was submitted by Ribu Abraham Varghese to Aurora's Business School in partial fulfillment of a postgraduate diploma program. The report contains an introduction to the insurance sector, the objectives and scope of the study, and the methodology used. It also includes tables, figures, acknowledgments and a certificate of completion. The main focus of the report is to analyze and assess the brand awareness of IDBI Federal Life Insurance among consumers.
This document provides an overview of IDBI Federal Life Insurance Company, including its sponsors and joint venture partners. IDBI Federal is a joint venture between IDBI Bank, Federal Bank, and Ageas, a European insurance giant. IDBI Bank owns 48% equity, while Federal Bank and Ageas each own 26% equity. The company offers life insurance and retirement products through the branches of IDBI Bank and Federal Bank, as well as advisors and partners. As of January 2011, the company had over 2.68 lakh policies with Rs. 14,230 crores of sum assured. The sponsors, IDBI Bank and Federal Bank, are described as leading Indian banks.
This document provides a project report on a descriptive analysis of depository participants with Stock Holding Corporation of India Ltd (SHCIL). It includes declarations, acknowledgements, executive summaries and details on opening and maintaining demat accounts with SHCIL. The objectives are to understand investor perceptions of depository participants (DPs), ascertain SHCIL's competitive position, develop SHCIL strategies to improve its market share, and offer suggestions. Limitations include the study being limited to one SHCIL branch and constraints of time and information access.
This document is a summer training project report submitted by Rahul Pal for their MBA program. The report analyzes the financial statements of IDBI Federal Life Insurance Co. Ltd. over several years. It includes an introduction to the insurance industry in India and background on IDBI Federal Life Insurance. The report then covers literature review, research methodology, analysis of financial statements including comparative statements, ratios, findings and suggestions. The analysis examines the financial performance and strength of IDBI Federal Life Insurance.
This document is a summer training project report submitted by Vivek Kumar, a student of BBA at Tecnia Institute of Advanced Studies in Delhi, India. The report studies online trading at Sharekhan Ltd, an Indian brokerage firm. It includes an executive summary, objectives, introduction to online trading and Sharekhan's profile, a SWOT analysis, financial analysis, and learning from the training experience. The report aims to analyze changes in trading after India's stock exchange shifted to online systems and understand Sharekhan's online trading platform and network configuration.
This document discusses customer retention at IDBI Federal Life Insurance Co. Ltd. in Hyderabad, India. It aims to study the factors that help IDBI retain customers and identify ways to improve customer satisfaction. A survey was conducted of 120 existing customers. The results found that over 60% of customers were satisfied with their experience and benefits. However, only 33% felt IDBI offers higher benefits than competitors. The document recommends ways for IDBI to retain customers like offering rewards for continuous purchase, gifts, and membership programs. It suggests developing policies targeting unmarried customers and increasing promotions to educate all customer types.
This article focuses upon certain practices and scheme of ADR in India in the form of question and answer format related to ADR, its nature of conduct whether ad hoc or administered; available platforms or forums for a better understanding to commoners and budding ADR practitioners.
This document appears to be a training report submitted by Jyoti Priya Roul analyzing the financial statements of IDBI Federal Life Insurance Co Ltd. over multiple years to evaluate the company's performance and financial health. The report includes declarations, certificates, acknowledgements, tables of contents, and chapters covering the insurance industry, company profile, literature review, research methodology, financial statement analysis including ratios, findings, suggestions and conclusions.
This document provides information about IDBI Federal Life Insurance, including its sponsors IDBI Bank and Federal Bank. IDBI Federal is a joint venture between IDBI Bank, Federal Bank, and Ageas, an insurance company based in Europe. The document discusses IDBI Federal's rapid growth since inception in 2008. It also provides background on IDBI Bank and Federal Bank, the leading development bank and private sector bank in India that sponsor IDBI Federal.
Sani singh final report of summer intership pgdmSani Singh
This document provides a project report on a study of the sales process and mutual funds at ShareKhan Ltd. It begins with declarations and acknowledgements. It then provides an executive summary and goes into details about ShareKhan as a company, including its hierarchy, SWOT analysis, and problems. It describes the author's job and responsibilities as a summer trainee, including generating leads, analyzing calls, and client preferences. It also provides information on mutual funds, the author's learning outcomes, and recommendations/limitations. The report aims to provide knowledge of ShareKhan's products/services and increase market awareness.
This document is a report on factors affecting investment decisions and the competitive advantages of Indiabulls Securities. It begins with an introduction to Indiabulls and outlines the objectives, methodology, and scope of the project. It then provides an overview of the financial industry and brokerage sector in India. It analyzes Porter's 5 forces model, demand and supply drivers, domestic and global economic conditions, and the critical success factors of the industry. It also examines Indiabulls' business model, products, strategies, SWOT analysis, and competitive positioning. Finally, it identifies and interprets key factors influencing individual investment decisions and compares Indiabulls' services to competitors.
WHAT IS NIDHI COMPANY? AND WHAT IS THE ADVANTAGES OF NIDHI COMPANY REGISTRATIONRishabhparihar8
Corpseed is the best startup consultant offering various registration services such as Real Estate Company Registration, Associate Company Registration, LLP Registration, Company Registration, TPS Registration, Copyright Registration, Trademark Registration ISO and other FSSAI licenses, etc.
For more Detail visit these sites.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
1. The document is an assignment for a Financial Management course covering various topics related to capital budgeting, working capital management, and dividend policy. It contains 6 questions worth a total of 60 marks.
2. The first question discusses Tata Consultancy Services being ranked as India's most admired company and asks about how HR and finance department interaction helps achieve skills goals and whether TCS prefers profit or wealth maximization.
3. The second question presents two calculation problems, one on stock valuation and one on bond pricing, to determine if an investor should buy a share or what the price of a bond should be.
4. It asks the student to answer all questions, with 10-mark questions being around
Ratio and trend analysis for Bajaj motors and their potential threats.
Other topics covered are:
1.Business model
2.Quality of earnings
3.Accounting policies
and much more....
Trident Ltd is an Indian textile and apparel company headquartered in Ludhiana, Punjab. It manufactures a variety of products including yarn, home textiles, paper, chemicals and energy. The company has several subsidiaries. It has a strong brand portfolio and is one of the largest exporters of home textiles. A financial analysis of Trident Ltd shows its liquidity, profitability, and solvency ratios have generally been improving over the past five years. However, the ratio of fixed assets to capital employed has been decreasing as the company has not been investing in fixed assets in proportion to the growth in its total assets and capital employed.
Chaitanya India Fin Credit Private Limited reported its annual results for the 2011-2012 financial year. While profit after tax was close to expectations, the loan portfolio grew slower than planned due to difficulties accessing debt funds. Key highlights included a focus on improving operational quality, stabilizing branches and processes, and piloting new products like gold loans and livestock insurance. Overall it was a year of consolidation after regulatory changes, with an emphasis on developing a robust and sustainable business model.
The document is an assignment for a financial management course covering several topics:
1) It discusses TCS being named India's most admired company and the criteria used to evaluate companies like corporate governance, financial soundness, and talent management. It asks how HR and finance department interaction helps achieve skills and if TCS prefers profit or wealth maximization.
2) It presents two investment scenarios asking if an investor should buy a share and what the price of a bond should be given required rates of return.
3) It asks about the effect of corporate capital structures on the economy, appropriate debt to equity ratios, and theories relating financial leverage to firm value.
4) It discusses HPCL implementing an online capital
"Humility will teach you knowledge, arrogance will teach you ignorance. If you think you know it all, you have learned nothing" Hi good morning, attached today's newsletter 01.09.2020. great day ahead
Antony Waste Handling Cell is one of the leading players in the municipal solid waste management industry in India. It has over 19 years of experience in providing solid waste collection, transportation, processing, and disposal services. The company aims to raise funds through its IPO to repay debt, finance new projects, and for general corporate purposes. It reported total income of Rs. 4,646.11 million in FY2020 with a net profit of Rs. 620.76 million. The IPO is expected to raise Rs. 298.62-299.98 crore at a price band of Rs. 313-315 per share by issuing fresh shares and an offer for sale.
This document contains assignment questions related to accounting concepts such as conservatism, balance sheets, funds flow statements, ratio analysis, pay-out ratios, interpretation of financial statements, preparation of trading and profit and loss statements, liquidity analysis, bank reconciliation, budgeting, inventory valuation, standard costing, and various accounting principles. The questions cover a wide range of accounting topics and require calculation, analysis, and discussion of accounting information and financial statements.
The document is the annual report of Beximco Synthetics Limited for the fiscal year 2020-2021. It includes the following key information:
- The company reported a net loss of 119.57 million Taka for the fiscal year, compared to a net loss of 798.125 million Taka the previous year. Total assets declined to 1,202.271 million Taka from 1,293.407 million Taka.
- The Chairman's statement notes that the company had to cease production and close its plant due to accumulated losses over 8 years, as cheap Chinese imports made its core product unviable in Bangladesh. All workers were retrenched with full payment of dues.
-
This document provides information about an assignment solving service that charges Rs. 250 per subject. It lists the website and contact details for the service, and provides sample assignments in subjects like business statistics, financial accounting, taxation, and strategic management. The assignments include questions related to probability, regression analysis, financial statement analysis, tax computation, strategy formulation, and quality management.
This document contains a model test paper for the Common Proficiency Test (CPT) administered by the Institute of Chartered Accountants of India. The test has 4 sections and 200 total marks. Section A covers fundamentals of accounting with 60 marks. It contains 46 multiple choice questions testing concepts like the accounting equation, double entry system, inventory valuation, depreciation, partnership accounts, and more. Correct answers receive 1 mark while wrong answers are penalized 0.25 marks.
This document is the annual report of D.G. Khan Cement Company Limited for the year 2013. It includes the directors' report which discusses the state of the Pakistani economy and cement industry in 2013. The economy grew at an average of 2.9% due to issues like energy crisis and security issues. The cement industry also saw slow growth of around 4-5% due to low economic activity and energy shortages. The report provides an overview of the company's financial performance and operations for the year.
Epgp term v_macr__group_assignment_april_2010 1Rajendra Inani
This document summarizes a merger between HDFC Bank and Centurion Bank of Punjab in 2008. Key details include:
1) HDFC Bank approved acquiring Centurion Bank of Punjab for Rs. 9,510 crore, creating one of the largest mergers in the Indian financial sector.
2) The merger was expected to benefit both banks by increasing their asset size, branch networks, and geographic footprints. HDFC Bank gained 394 new branches.
3) Regulatory approval was received to merge Centurion Bank of Punjab's branches and operations into HDFC Bank. The combined entity would have over 1,167 branches across India.
4) Analysts viewed the merger positively, expecting cost savings and
This document contains 5 case studies related to production and operations management:
1. A case involving investing 100 billion INR to develop a jet engine over 5 years, which faces risks related to certification standards and competition from other manufacturers.
2. A conflict between a GM and company management regarding new product integration and stringent rules imposed without assessing production capabilities.
3. Delays plaguing the Assam Gas Cracker Project due to issues with land acquisition and uncertainty around raw materials, causing costs to spiral over time.
4. A company called NaaR Clothing implementing a just-in-time model to make custom jeans within 10 days of orders placed through partner retailers.
5. A case where a
Taxmann's MCQs and Integrated Case Studies on Advanced Auditing and Professio...Taxmann
1. ABC Ltd is a leading pharmaceutical company acquired by XYZ Ltd 5 years ago. XYZ Ltd holds 75% shares of ABC Ltd.
2. The governments of Punjab, Haryana and Rajasthan collectively hold 51.5% shares of XYZ Ltd.
3. The auditor of ABC Ltd, Mr. Shyam, resigned on 29th Oct 2020 due to medical reasons but failed to inform the authorities.
4. RMT & Co was appointed to fill the casual vacancy created by Mr. Shyam's resignation as statutory auditor of ABC Ltd.
Similar to Taxmann's MCQs and Integrated Case Studies on Corporate & Economic Laws (20)
GST Made Easy provides an Updated, Comprehensive & Simplified Analysis of each provision of the GST Law. The objective behind this book is that the understanding of GST should be as easy as ABC. This book provides answers to all your practical queries on GST.
The Present Publication is the 10th Edition, authored by CA (Dr.) Arpit Haldia & updated till 15th June 2021, with the following noteworthy features:
• [Focus on Analysis of Substantive Provisions of the GST Law] such as supply, time of supply, place of supply, value of supply, input tax credit, etc.
• [Guidance on all Procedural Provisions] relating to registration, composition scheme, returns, liability to pay tax, etc.
• [Coverage of Provisions of the GST Law] such as assessment, demand & recovery, refunds, e-way bill, job work, etc.
The contents of the book are as follows:
• Introduction
• An Overview of GST
• Person Liable to Pay Tax in GST
• Registration in GST
• What is Supply
• Time of Supply of Goods
• Time of Supply of Services
• Value of Supply
• Place of Supply
• Determination of Supply in the Course of Inter-State Trade or Commerce or Intra-State Supplies
• Job Work
• Invoice, Credit and Debit Notes
• Input Tax Credit
• Payment of Taxes
• Brief about Persons requiring Mandatory Registration
• Composition Levy – For Supplier of Goods and for Persons Engaged in Making Supplies Referred to in Clause (b) of Paragraph 6 of Schedule II
• Returns
• Assessment
• Refund
• Accounts and Records
• E-Way Bill
• Advance Ruling
• Composition Scheme for Services or Mixed Suppliers
• Demand and Recovery
• Penalty
• Rule 86B – Payment of 1% of Output Liability in Cash
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993Taxmann
This document provides an overview of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It discusses the background and objectives of the Act, key features such as enforcement of security, securitization, and asset reconstruction. It also examines related topics such as the constitutional validity of the Act, applicability to different entities, and interactions with other laws like the Recovery of Debts and Bankruptcy Act, 1993 and Insolvency and Bankruptcy Code, 2016. The document outlines the procedures for enforcement of security, sale of secured assets, appeals and penalties under the SARFAESI Act.
Taxmann's LLP Manual is a compendium Amended, Updated & Annotated text of the Limited Liability Partnership Act, 2008 (as amended by the Limited Liability Partnership (Amendment) Act, 2021) along with Rules, Circulars, and Notifications.
This book is divided into four divisions:
• Limited Liability Partnership Act, 2008
• Limited Liability Rules
• Circulars & Notifications
• Foreign Direct Investment in Limited Liability Partnership
The Present Publication is the 8th Edition & amended up to 13th August 2021, authored by Taxmann's Editorial Board, with the following noteworthy features:
• [List of Amendments, at a glance] made by the Limited Liability Partnership (Amendment) Act, 2021
• [Short Commentary] on the following:
◦ Limited Liability Partnership (Amendment) Act, 2021
◦ Limited Liability Partnership Act, 2008
• [Integrated LLP Rules, Circulars & Notifications, FDI Policy, FEMA Regulations]
◦ Limited Liability Partnership Rules, 2009 as amended up to date
◦ Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
◦ Text of LLP Circulars & Notifications
◦ FDI Policy related to LLPs
◦ FEMA Regulations & Schedules related to LLPs
• [Taxmann's series of Bestseller Books] on LLP Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error'
GST Investigations Demands Appeals & Prosecution aims to cover the past & emerging jurisprudence on the subject matter along with a lucid commentary on the statutory provisions under the GST Law relating to the following:
• GST Inspection
• GST Search
• GST Seizure
• GST Detention
• GST Audit
• GST Confiscation
• GST Penalty
• GST Show Cause Notice
• GST Adjudication
• GST Appeals
• GST Revision
• GST Prosecution
• GST Compounding
The objective of this book is to sensitize both taxpayers and tax officers of their rights and obligations when:
• Investigations are undertaken;
• Records and documents are seized;
• Officials from companies are summoned, and
• Statements are recorded.
This book will be helpful for taxpayers, departmental officers, members of the bar & bench, professionals and the judiciary to appreciate the intricate points and issues arising out of implementation of the relevant provisions conferring wide powers on the officers.
The Present Publication is the Latest Edition, authored by Dr. Gokul Kishore & R. Subhashree & amended up to July 2021, with the following noteworthy features:
• [Commentary/Practical Guide] This book is intended to serve as a commentary and also a practical guide to all stakeholders on the provisions and issues emerging from various orders passed by High Courts on search, summons, arrest, bail, provisional attachment, demands, penalty and confiscation
• [Analysis of the Statutory Provisions featuring Landmark Cases & Recent Orders] GST is in force for only four years. Still, instances of the use of powers of search and seizure have been increasingly visible. This book analyses the provisions along with both the landmark cases on this subject as well as the recent orders under GST law.
• [Analysis includes the Previous & Current Regime of Indirect-taxes] While arrest and prosecution powers have been in the statute book under the pre-GST tax laws, the frequency of invocation of such powers in the GST regime is high. Various orders on bail, conditions for bail and validity of arrest passed by High Courts have been discussed to comprehend the scope, limitations and interpretation of the provisions
• [Threadbare Analysis with Established Jurisprudence & Principles Evolved over the Years] Proceedings for recovery of tax commences with demand notice or show cause notice followed by adjudication order, and the dispute is carried in an appeal if either party is aggrieved. The provisions under GST law on demands, adjudication, appeals, revision and recovery action have been subjected to threadbare analysis with the help of established jurisprudence and principles evolved over the years
Taxmann's GST Law & Practice is a unique/concise book on the GST Laws (i.e., Statutory Portion & Case Laws). Coverage of the book is as follows:
• Central Goods and Services Tax Act 2017 (CGST)
• Integrated Goods and Services Tax Act 2017 (SGST)
• Goods and Services Tax (Compensation to States) Act 2017
• Classification of Goods & Services
What sets it apart is the 'unique way of presenting' the compendium of 'updated, amended & annotated' text of the CGST & SGST Acts along with relevant Rules, Notifications, Forms, Circulars, Clarifications, and Case Laws. In other words, read the Section & get the following:
• Text of the relevant Rules & Notifications
• The gist of the relevant Circulars
• Date of enforcement of provisions
• Allied Laws referred to in the provision
• Gist of relevant Case Laws with an easy-to-understand summary
This book also includes Case Laws on the classification of goods & services under the GST regime in a separate division.
The Present Publication is the 2nd Edition, amended up to July 2021, authored by CA (Dr.) Arpit Haldia & CA Mohd. Salim, with the following noteworthy features:
• [Taxmann's series of Bestseller Books] on GST Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error.'
The detailed contents of the book are as follows:
• Central Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Central Goods & Services Tax Act, 2017
◦ Removal of Difficulties Order
◦ Text of Provisions of Allied Acts referred to in Central Goods & Services Tax Act, 2017
◦ Subject Index
• Integrated Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Integrated Goods & Services Tax Act, 2017
Subject Index
• Goods and Services Tax (Compensation to States) Act 2017
◦ Arrangement of Sections
◦ Text of the Goods and Services Tax (Compensation to States) Act, 2017
◦ Subject Index
• Classification of Goods & Services
◦ Classification of Goods
◦ Classifications of Services
This standard provides guidance on accounting for property, plant and equipment (PPE), which typically constitute a significant portion of total assets. It discusses capitalization of expenditures on PPE, depreciation, retirement and disposal of PPE. These have a material impact on balance sheet and profit and loss statement. The standard scopes in tangible items held for use in production/supply of goods/services, rental to others or for administrative purposes, which are expected to be used for more than one period.
GST Exports-Imports & Deemed Exports is a harmonious blend of the following laws:
• GST
• Customs
• Foreign Trade Policy
• Allied Laws
This book aims to consolidate & explain different provisions of the law and subsequent procedural changes such as Notifications, Circulars, Instructions and Trade Notices issued by CBIC and DGFT, along with relevant Advance Rulings with regards to Imports, Exports, Deemed Exports under different laws.
This book is intended to help the trade and industry dealing with exports, imports and deemed exports for compliance with the legal requirements and avail the benefits under various provisions of the Foreign Trade Policy, Customs and GST laws with better understanding and appreciation of the intricacies.
The Present Publication is the 2nd Edition, authored by Kaza Subrahmanyam & T.N.C. Rajagopalan, with the following coverage:
• [Conceptual Understanding of provisions of Imports and Exports] of Goods & Services
• [Meaning of Zero Rated Supply along with Refunds] for Physical Exports and Deemed Exports under GST
• [Treatment of supplies by and to EOU/SEZ unit or SEZ Developer/FTWZ] along with Special Exemptions/Concessions and procedural requirements
• [Foreign Trade Policy] under GST
Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws.
This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers.
This book is divided into two parts:
• Valuation of Imported Goods
• Valuation of Export Goods
The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features:
• [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007
• [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc.
• [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc.
• [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc.
This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language.
The detailed coverage of the book is as follows:
• Introduction
• Valuation of Imported Goods
◦ Transaction Value
◦ Transaction Value to be Accepted in the Absence of Condition and Restriction under Rule 3(2)
◦ Contract Prices and Transaction Value
◦ High Sea Sales and Transaction Value
◦ Related Persons
◦ Transaction Value of Identical or Similar Goods and Contemporaneous Imports
◦ Deductive Value
◦ Computed Value
◦ Residual Method
◦ Reliance on Foreign Journals indicating International Prices for Determining Assessable Value
◦ Addition to Transaction Value Royalty, Licence and Technical Know-How Fees
◦ Other Addition to Transaction Value
◦ Declaration by the Importer
◦ Rejection of Declared Value
◦ Investigation by Special Valuation Branch
• Valuation of Export Goods
◦ Export Valuation
◦ Under-Invoicing and Over-Invoicing of Exports
◦ Customs Valuation (Determination of Value of Export Goods) Rules, 2007
◦ Inclusion/Exclusion Duty Element from Cum Duty Price
◦ Valuation of Goods Sold in DTA from EOU and Debonding of Capital Goods from EOU
Taxmann’s CRACKER for Corporate & Economic Laws is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 7th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, authored by Pankaj Garg, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [600+ Questions and Case Studies] with complete answers
• Coverage of this book includes:
• All Past Exam Questions
▪ CA Final July 2021 (New Syllabus) – Suggested Answers
◦ Questions from RTPs and MTPs of ICAI
• [Chapter-wise] marks distribution for Past Exams
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) fifth Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [6th Edition] of Taxmann’s MCQs & Integrated Case Studies on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• National Company Law Tribunal and Appellate Tribunal
• Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes & Reports
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 (Deleted from syllabus)
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002)
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
FEMA & FDI Ready Reckoner provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals.
Key features of this book are as follows:
• Topic-wise commentary on FEMA
• Analysis of all provisions of FEMA with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by Reserve Bank of India
• Law Relating to the following
◦ Prevention of Money Laundering Act
◦ Foreign Contribution (Regulation) Act
◦ COFEPOSA
The Present Publication is the 15th Edition, and it is amended up to 30th June 2021. The coverage of this book is as follows:
• FEMA – Overview
• Authorised Person under FEMA
• Account in India by Person Resident out of India
• Accounts of Indian Residents in Foreign Currency
• Receipt and Payment in Foreign Exchange
• Realisation, Repatriation and Surrender of Foreign Exchange
• Money Changing Activities
• Money Transfer Service Scheme (MTSS)
• Possession and Retention of Foreign Currency
• Export and Import of Currency or Currency Notes
• Remittances on Current Account
• Liberalised Remittance Scheme (LRS)
• Export of Goods and Services
• Import of Goods and Services
• Project Exports and Service Exports
• Foreign Exchange Rates
• Overview of Capital Account Transactions
• Foreign Investment in India
• FDI in Indian Company
• Section Wise FDI Policy at a Glance
• FDI – Downstream Investment, i.e. Indirect Investment
• FDI through Rights, Bonus, Sweat Equity or Merger/Amalgamation
• FDI – Transfer of Securities
• FDI in LLP
• FDI in GDR/ADR
• Investment by NRI or OCI
• FDI in Startup Company
• Investment by Foreign Portfolio Investors
• FDI in Investment Vehicle
• FDI by FVCI
• FDI – Investment in Securities by Funds, Foreign Central Bank, etc.
• Investment by Indian Entity in JV/WOS Abroad
• Guarantees
• Insurance
• Borrowing and Lending in Foreign Currency
• Borrowing and Lending in Indian Rupees
• Foreign Investment in Debt Instruments
• External Commerical Borrowings
• Trade Credit (TC) and Structured Obligations
• Acquisitions and Transfer of Immovable Property in India
• Acquisition and Transfer of Immovable Property out of India
• Remittance of Assets
• Branch/LO/Project Office in India by Foreign Entities
• Indian Depository Receipts
• Risk Management and Inter-Bank Dealings
• VOSTRO Account of Non-Resident Exchange Houses
• Industrial Policy of Government of India
• Enforcement of FEMA
• Penalties under FEMA
• Appeals under FEMA
• Compounding of Contraventions under FEMA
• Prevention of Money Laundering Act
• Foreign Contribution (Regulation) Act (FCRA)
• COFEPOSA, 1974
This book provides a para-wise commentary on Companies (Auditor’s Report) Order. It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO.
This book is divided into three divisions:
• CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
• CARO Report on Consolidated Financial Statements under CARO, 2020
• CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22)
This book will be helpful for Auditors
The Present Publication is the 8th Edition, amended up to 30th June 2021, authored by CA Srinivasan Anand G., with the following noteworthy features:
• [FAQs & Case Studies]
◦ CARO 2016
◦ CARO 2020
• [Amended Schedule II] Related disclosure requirements
• [Clause-wise Ready Reckoner] on CARO 2020
• Review of earlier versions of CARO to do a quick comparison(s)
• [In a Nushell] CARO 2020
• Relevant Provisions of Companies Act, 2013
Taxmann's Indian Accounting Standards (Ind AS)Taxmann
Indian Accounting Standards (Ind AS) contains the updated Indian Accounting Standards issued under the Companies (Indian Accounting Standard) Rules, 2021.
It provides a complete understanding of the definitions, entities liable to apply Ind AS, and exemptions.
The Present Publication is the 2nd Edition, authored by Taxmann’s Editorial Board, updated till 30th June 2021, with the following noteworthy features:
• [Text of Indian Accounting Standard (Ind AS)] notified under Companies (Indian Accounting Standard) Rules, 2021;
• [Guide for Definitions] in Indian Accounting Standards
• [Guide on Applicability] of Indian Accounting Standards
• [Guide on Obligations to Comply with] in Indian Accounting Standards
• [Guide on Exemptions/Relaxations] in Indian Accounting Standards
The contents of the book are as follows:
• Arrangement of Rules
◦ Short Title and Commencement
◦ Definitions
◦ Applicability of Accounting Standards
◦ Obligation to Comply with Indian Accounting Standards (Ind AS)
◦ Exemptions
• General Instructions
• Indian Accounting Standards (Ind AS)
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This book is divided into two parts:
• Law Relating to Tax Procedures (covering 25+ topics)
• Case Studies (covering 35+ topics)
The Present Publication is the 7th Edition, authored by Gabhawala & Gabhawala, as amended by the Finance Act 2021, with the following noteworthy features:
• Law Relating to Tax Procedures
◦ [Lucid Explanation, in a Practical Manner, with Checklists & necessary Tips] for the law relating to Tax Procedure
◦ [Exhaustive Coverage of Case Laws]
◦ [Fine Prints & Unwritten Lines] are explained in a lucid manner
• Tax Practice
◦ [Elaborated & Threadbare Analysis] of every aspect of Tax Practice
• Case Studies
◦ [330+ Case Studies] to deal with real-life animated situations/problems faced by tax practitioners
• Draft Replies
◦ For the Notices sent by the Department
◦ Petitions to the Department
• Drafting & Conveyancing
◦ [Complete Guide to Drafting of Deeds & Documents] covering
◦ Affidavits
◦ Wills
◦ Special Business Arrangements
◦ Family Arrangements
◦ Power of Attorney
◦ Lease, Rent & Leave and Licenses
◦ Indemnity and Guarantee
◦ Charitable Trust Deeds, etc.
The contents of this book are as follows:
• Law Relating to Tax Procedures
◦ Tax Practice
◦ Pre-assessment Procedures
◦ Assessment
◦ Appeals
◦ Interest, Fees, Penalty and Prosecution
◦ Refunds
◦ Settlement Commission – ITSC, Interim Board for Settlement
◦ Summons, Survey, Search
◦ TDS and TCS
◦ Recovery of Tax
◦ Special Procedures
◦ Approvals
◦ STT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
RTI, Ombudsman
◦ Drafting of Deeds
◦ Agreement, MoU
◦ Gifts, Wills, Family Arrangements
◦ Power of Attorney, etc.
◦ Lease, Rent, License, etc.
◦ Sale/Transfer of Properties
◦ Tax Audit
◦ Income Computation & Disclosure Standards
◦ Real Estate (Regulation and Development) Act, 2016 (RERA)
◦ E-Proceedings under the Income Tax Act, 1961
◦ Prohibition of Benami Property Transactions Act, 1988
• Case Studies
◦ Tax Practice
◦ Pre-Assessment Procedures
◦ Assessment – Principles and Issues
◦ Rectification of Mistake
◦ Revision
◦ Appeals to CIT (Appeals)
◦ Appeals to – ITAT – High Court – Supreme Court
◦ Interest Payable by Assessee
◦ Penalties
◦ Prosecution
◦ Refunds
◦ Settlement of Cases
◦ Survey
◦ Search & Seizure
◦ Tax Deduction at Source
◦ Recovery of Tax
◦ Trust, Mutuality, Charity
◦ Firm
◦ LLP – Limited Liability Partnership
◦ Right to Information – RTI
◦ Agreement, MoU
◦ AOP – Association of Persons
◦ HUF – Hindu Undivided Family
◦ Gifts
◦ Wills
◦ Family Arrangements
◦ Power of Attorney
◦ Indemnity and Guarantee
◦ Lease, Rent, Leave and License
◦ Sale/Transfer of Properties
◦ Tax Audit
This document is the contents page and introduction for a book on Competition Law in India published by Taxmann Publications Pvt. Ltd. It provides an overview of the book's organization, outlines the various divisions covering the Competition Act of 2002 and associated rules and regulations, and includes standard copyright and disclaimer information for publications.
Taxmann's CLASS NOTES | Direct Tax Laws and International TaxationTaxmann
Taxmann’s CLASS NOTES for Direct Tax Laws & International Taxation is a one-stop solution to conquer the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to consult multiple voluminous books while revising the day before the exam.
This book aims at providing all concepts in a simple language, with proper linking and a smart sequential approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal jargons.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of theoretical concepts
• [Multi-Colour Coded Book] which follows the below structure:
◦ Blue – Heading
◦ Black – Main Content
◦ Red – Summarised version of the main content
◦ Green – Amendments applicable for the examination
◦ Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
◦ Blue Boxes – Significant selected Case Laws provided by ICAI
◦ Green Boxes – Authors personal notes for better understanding and clarity
• [Amendments for November 2021 Examination] are provided at the end of the module
Also Available:
• [65th Edition] of Taxmann’s Direct Taxes Law & Practice with special reference to Tax Planning
• [2nd Edition] of Taxmann’s Direct Tax Laws & International Taxation (2 Vols.)
• [2nd Edition] of Taxmann’s CRACKER cum Compiler – Direct Tax Laws & International Taxation
Taxmann's Problems & Solutions for Direct Tax Laws & International TaxationTaxmann
Taxmann's PROBLEMS & SOLUTIONS for Direct Tax Laws & International Taxation is a compilation of questions & MCQs (prepared using handwritten fonts) from the educational materials, RTPs, MTPs and past examination papers of both old & new syllabus of ICAI (up to 30th April 2021). These are aligned with provisions applicable for Nov. 2021 Exams and are arranged Topic-wise & Chapter-wise with proper reference to the paper as well as attempt for convenience and trend analysis.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• [Coverage of All Questions & MCQs] in handwritten fonts
◦ For Old/New Syllabus; issued up to 30th April 2021, from the following:
▹ Educational Material of ICAI
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Taxmann's MCQs and Integrated Case Studies on Corporate & Economic Laws
1. 6(b) Practical Illustration on Sec. 151 and Rule 7 Refer Q. No. 30 4
Jan. 21* 6(a) Practical Illustration on Sec. 167 Refer Q. No. 88 4
*From May 19 Exam, marks are covered only for descriptive part of the paper as MCQ paper was not issued in public
domain by ICAI.
1.1
18. SAMPLE CHAPTER
21.1
Integrated Case Studies
Integrated Case Study 1
Lagus Transport Services Limited (LTSL) is operating in logistics and public transport domain. The
company has pan-India presence. As per its Articles of Association, the company can appoint a maximum of
15 directors and all of them shall be rotational directors. Presently, the company has a strength of 14
directors, of which 9 are executive directors and the remaining 5 are non-executive directors. As on 31st
March, 2019, its paid-up share capital was ₹8.42 crore; the turnover was ₹84 crore; and it had, in the
aggregate, outstanding loans, debentures and deposits to the tune of ₹42 crore.
In the Annual General Meeting (AGM), held on 20th August, 2019, Anil, Badal, Chanchal and Damodar were
appointed as directors in place of Mohan, Navin, Om and Prasad by passing a single resolution with simple
majority. It is to be noted that earlier, a motion authorising the appointment of Anil, Badal, Chanchal and
Damodar by a single resolution was passed in the meeting and not a single vote was cast against such
motion.
As on 31st March, 2020, the turnover of the company increased to ₹120.52 crore but the aggregate of
outstanding loans, debentures and deposits reduced to ₹40 crore. The paid-up share capital was the same
as earlier. Due to the increased turnover there arose the requirement of appointing two independent
directors.
Since the company was required to appoint two independent directors, the total strength of the Board with
such appointments would go up to 16 directors from the present 14 whereas according to the Articles, the
company can have a maximum of 15 directors. Accordingly, the Articles were altered and the total strength
was increased to 20 directors.
After altering the Articles, the company proceeded to appoint four independent directors instead of the
mandatorily required two, since it was felt that such step would strengthen the corporate governance to
the maximum extent. The independent directors were - Mrs. Eekam, who is considered ‘influencer’ on
supply chain management and has a lot of expertise in the logistics field; Mrs. Prajna who is a marketing
expert; Mrs. Ruchita, who is MBA (Finance and Accounting) from IIM, Ahmedabad; and Mr. Amit, who is
skilled in developing customised software. Subsequent to the above developments, the time to hold Annual
General Meeting (AGM) approached and it was held on 12th August, 2020, at the registered office of the
company at Mumbai.
Q.1 In this case scenario, Anil, Badal, Chanchal and Damodar were appointed as directors by passing a
single resolution at the AGM. Is such appointment valid?
(a) The appointment of Anil, Badal, Chanchal and Damodar by a single resolution is valid because
beforehand, a motion authorising their appointment by a single resolution was passed in the meeting
and not a single vote was cast against such motion.
(b) The appointment of Anil, Badal, Chanchal and Damodar by a single resolution is not valid because
passing of resolution by simple majority indicates that it was not passed unanimously.
21
19. Integrated Case Studies Chapter 21
21.2
(c) The appointment of Anil, Badal, Chanchal and Damodar by a single resolution with simple majority is
not valid because such resolution is required to be passed as a special resolution.
(d) The appointment of Anil, Badal, Chanchal and Damodar by a single resolution is not valid because in no
case more than one director can be appointed by passing a single resolution.
Q.2 In the given case scenario, according to the Articles all the directors are rotational. Had this been not
the case, how many directors were required to retire at the AGM which was held on 20th August,
2020?
(a) Five directors
(b) Four directors
(c) Three directors
(d) Two directors
Q.3 In the given case scenario, if it is presumed that as on 31st March, 2020, the turnover of the company
is ₹87.00 crore and the paid-up share capital is ₹12.00 crore, would the company be still mandatorily
required to appoint two independent directors?
(a) There is no need to appoint two independent directors since the aggregate of turnover and paid-up
share capital has not crossed the threshold of ₹100 crore.
(b) Instead of appointing two independent directors, the company is required to appoint only one
independent director since the aggregate of turnover and paid-up share capital is above ₹90 crore but
less than ₹100 crore.
(c) The company is required to appoint minimum two independent directors since the paid-up share
capital is ₹12 crore.
(d) The company is required to appoint only one independent director since the paid-up share capital is
below ₹15 crore.
Q.4 According to the case scenario, the company altered its Articles of Association so as to increase the
total strength of directors up to 20 from the present 15 directors. Which of the following options is
applicable in such a case of alteration:
(a) The articles were altered by passing an ordinary resolution.
(b) The articles were altered by passing an ordinary resolution followed by approval sought from the
jurisdictional Registrar of Companies.
(c) The articles were altered by passing a Board Resolution with more than 75% majority.
(d) The articles were altered by passing a special resolution.
Q.5 As on 12th August, 2020, when the AGM of LTSL was held, the total strength of directors reached to
18 due to the appointment of four independent directors. When all the directors are rotational, how
many directors shall get retired at this AGM?
(a) Six directors
(b) Five directors
(c) Four directors
(d) Two directors
20. Chapter 21 Integrated Case Studies
21.3
Answer – Integrated Case Study 1
Q. No. Answer Reason
Q.1 (a) Refer Sec. 162(1) - At a general meeting of a company, a motion for the appointment of 2 or
more persons as directors of the company by a single resolution shall not be moved unless a
proposal to move such a motion has first been agreed to at the meeting without any vote
being cast against it.
Q.2 (c) Refer Sec. 152(6)(a) - Unless the articles provide for the retirement of all directors at every
AGM, not less than 2/3rd of the total number of directors of a public company shall—
(i) be persons whose period of office is liable to determination by retirement of directors by
rotation; and (ii) save as otherwise expressly provided in this Act, be appointed by the
company in general meeting.
Sec. 152(6)(c) - At the first AGM of a public company held next after the date of the general
meeting at which the first directors are appointed in accordance with clauses (a) and (b) and
at every subsequent AGM, 1/3rd of such of the directors for the time being as are liable to
retire by rotation, or if their number is neither 3 nor a multiple of 3, then, the number
nearest to 1/3rd, shall retire from office.
Hence, directors to be liable to retire by rotation = 1/3rd of 10,
= 3.33 or nearest 3
Rotational Directors = 2/3rd of 14 = 9.33, i.e. 10
Q.3 (c) Refer Rule 4 of Companies (Appointment and Qualification of Directors) Rules, 2014.
The following class or classes of companies shall have at least 2 directors as independent
directors:
(i) the Public Companies having paid up share capital of ₹10 crore or more; or
(ii) the Public Companies having turnover of ₹100 crore or more; or
(iii) the Public Companies which have, in aggregate, outstanding loans, debentures and
deposits, exceeding ₹50 crore.
The paid-up share capital or turnover or outstanding loans, debentures and deposits, as the
case may be, as existing on the last date of latest audited F.S. shall be taken into account.
Q.4 (d) Refer Sec. 14(1) - Subject to the provisions of this Act and the conditions contained in its
memorandum, if any, a company may, by a special resolution, alter its articles.
Refer 2nd Proviso to Sec. 149(1) - A company may appoint more than 15 directors after
passing a special resolution.
Q.5 (b) Refer Sec. 152(6)(c) – Explained in Q. 2.
For the purposes of Sec. 152(6), “total number of directors” shall not include independent
directors.
Hence directors to retire at AGM will be 1/3rd of (18-4), i.e. 4.67 or nearest, i.e. 5
21. Integrated Case Studies Chapter 21
21.4
Integrated Case Study - 2
Ali Baba Limited is a listed company incorporated under the provisions of Company Law having its
registered office at Andhra Pradesh. Mrs. Smart is a Managing Director of Ali Baba Limited since its
incorporation. She was first director and one of the promoters of the company. She has vast experience of
managing the company in very efficient manner.
Ali Baba Ltd. is a holding company of PM Limited with a Fira Private Limited as a subsidiary to PM Limited.
Following are the details pertaining to the incorporation of the related entities and its capital structure:
S. No. Particulars Ali Baba Limited PM Limited Fira Private Limited
1. Date of Incorporation 17/09/1985 06/09/1988 28/09/1989
2. Place of Registered Office Andhra Pradesh Delhi Hyderabad
3. Authorised Share Capital ₹100,00,00,000/- ₹20,00,00,000/- ₹10,00, 00,000/-
4. Paid Up Share Capital ₹99,00,00,000/- ₹10,00,00,000/- ₹10,00,00,000/-
Under the guidance of Mrs. Smart, Ali Baba Limited acquired shareholding in PM Limited and thus resulting
it into a subsidiary company of Ali Baba Limited. Now the Board of Directors of Ali Baba Limited wishes to
nominate Mrs. Smart for the position of Managing Director in PM Limited and also to appoint her as Whole
Time Director (WTO) in Fira Private Limited, which is a wholly owned subsidiary (WOS) of PM Limited.
Therefore, the Board of Directors of PM Limited passed a Board Resolution through resolution by
circulation to appoint Mrs. Smart as Managing Director of the company. Subsequently, the Board of
Directors of Fira Private Limited passed the Board Resolution at Board Meeting, wherein all directors
present in the meeting approved the resolution for appointing her as Whole Time Director of the company
and then subsequent to unanimous Board approval, Fira Private Limited also conducted the general
meeting for getting approval of shareholders and passed the ordinary resolution to appoint her as Whole
Time Director in the company.
Further, for appointment of Mrs. Smart, PM Limited and Fira Private Limited had complied with Schedule V
of the Companies Act, 2013 as a result respective companies did not take any approval from Central
Government for her appointment as Managing Director and Whole Time Director respectively.
Based on the above provided information and in the light of applicable provisions of the Companies Act,
2013, read with Schedule V of the Act, you are asked to advice on the following Multiple Choice Questions:
Q.1 State on the validity of the appointment of Mrs. Smart as Managing Director in PM Limited in terms
of the provisions of the Companies Act, 2013?
(a) Invalid, as no such appointment was made or approved by resolution passed at the board meeting
with the consent of all the directors present at the meeting and supported by general meeting’s
ordinary resolution under section 196.
(b) Valid as whole time KMP shall hold office in its subsidiary at the same time.
(c) Valid with further approval of the Central Government
(d) Invalid because a person cannot hold more than one office as Managing Director
22. Chapter 21 Integrated Case Studies
21.5
Q.2 Whether Mrs. Smart appointment as Whole Time Director in Fira Private Limited is valid as per
provisions of the Companies Act, 2013?
(a) No, because being Fira Private Limited is private company, so rules 8 8A of Companies
(Appointment Remuneration of Managerial Personnel) Rules, 2014, not applicable
(b) Yes, as per section 2(71) it is deemed as public Co.
(c) Yes, on further approval of Central Government
(d) No, because of restriction under section 203(3) on appointment in more than one company.
Q.3 What will be legal position as to the appointment of Mrs. Smart as Managing Director in PM Limited,
if Ali Baba Limited is a Government Company?
(a) Invalid due to non-compliance of section 203
(b) Valid in light of the provisions of section 203(4A)
(c) Valid with approval of central government
(d) Invalid because a person cannot hold office of Managing Director in more than 1 company.
Q.4 What is the status of Fira Private Limited for the purpose of the applicability of the Companies Act,
2013, if Ali Baba Limited is a Government Company?
(a) Private Company
(b) Public Company
(c) Government Company
(d) Associate Company
Q.5 Whether appointment of Mrs. Smart as Whole Time Director in Fira Private Limited is legally
acceptable, if Ali Baba Limited is a Government Company?
(a) No, because being Fira Private Limited is private company, so rules 8 8A of Companies
(Appointment Remuneration of Managerial Personnel) Rules, 2014, not applicable
(b) Yes, because section 203 is not applicable on Government Companies
(c) Yes, with further approval Central Government
(d) No, because of restriction under section 203(3)
23. Integrated Case Studies Chapter 21
21.6
Answer – Integrated Case Study 2
Q. No. Answer Reason
Q.1 (a) Refer Sec. 196(4) - Subject to the provisions of Sec. 197 and Schedule V, a managing
director, whole-time director or manager shall be appointed and the terms and conditions of
such appointment and remuneration payable be approved by the Board of Directors at a
meeting which shall be subject to approval by a resolution at the next general meeting of the
company and by the Central Government in case such appointment is at variance to the
conditions Specified in Part I of that Schedule.
Q.2 (b) Refer Sec. 196(4).
Sec. 196 shall not apply to private companies.
As per proviso to Sec. 2(71) - a company which is a subsidiary of a company, not being a
private company, shall be deemed to be public company for the purposes of this Act even
where such subsidiary company continues to be a private company in its articles.
Q.3 (b) Refer Sec. 203(4A) - The provisions of Sec. 203(1) to 203(4) shall not apply to a managing
director or Chief Executive Officer or manager and in their absence, a whole-time director of
the Government Company.
Q.4 (c) Refer Sec. 2(45) - Government company means any company in which not less than 51% of
the paid-up share capital is held by the C.G., or by any S.G.(s), or partly by the Central
Government and partly by one or more State Governments, and includes a company which is
a subsidiary company of such a Government company;
Q.5 (b) Refer Secs. 2(45) and 203(4A)
24. Chapter 21 Integrated Case Studies
21.7
Integrated Case Study - 3
A Corporate Insolvency Resolution process, under the Insolvency and Bankruptcy Code 2016 was initiated
by M/s A Limited as a Corporate Debtor. The company was in default to its creditors and the assets were
insufficient to meet the liabilities of the company.
Attempts to resolve the insolvency of the corporate debtors failed and in the last, it was decided to go for
liquidation of the company. The balance sheet and additional information of A Ltd. are given below:
Key Financial information:
Data Amount
(₹ in Crore)
Data Amount
(₹ in Crore)
Equity Share Capital 11,000 Land and building 16,500
Preference Share Capital 3,800 Fixtures and Fittings 1,000
Term Loan 1,500 Stocks 640
Working Capital Loan 1,200 Debtors 550
Unsecured financial Creditors 1,000 Other Current Assets 550
Government Dues 400 Cash 175
Workman Dues 240 Accumulated Losses 2,350
Employee Liability 300
Operational Creditors 2,400
21,840 21,840
Additional Information:
Creditors
(1) Term loan is secured against fixed charge on land building and fixtures fittings. Bank A with an
₹800 crore term loan outstanding has first charge on the assets and Bank B with ₹700 crore
outstanding has second charge on the assets.
(2) Working capital loan is provided by Bank C and secured against a floating charge on debtors stock of
the company.
Unsecured financial creditors include a Director X who owns 3% of the share capital of M/s A Limited with
an outstanding loan due to him of ₹50 crores.
Q.1 What would have been the constitution of Committee of Creditors.
(a) Bank A, Bank B, Bank C and all unsecured financial creditors.
(b) Bank A, Bank B, Bank C and unsecured unrelated financial creditors.
(c) Bank A, Bank B and Bank C, unsecured financial creditors and operational creditors.
(d) Bank A, Bank B, Bank C, unsecured unrelated financial creditors and operational creditors.
25. Integrated Case Studies Chapter 21
21.8
Q.2 Voting Rights of the members (Operational creditors) in the committee of creditors will be
__________________:
(a) 39.34%
(b) 39.66%
(c) 10.99%
(d) None of the above
Q.3 Voting Rights of the members (unsecured unrelated financial creditors) in the committee of
creditors will be __________________:
(a) 25.68%
(b) 26.02%
(c) 15.57%
(d) None of the above
Q.4 The application before NCLT was filed on 5th January, 2019. The case was admitted on 20th January
2019. The IRP who was appointed on 20th January, 2019 received the order on same date seeks your
guidance on the time period as to making of public announcement. Select the appropriate answer:
(a) Interim resolution professional shall make the public announcement within 3 days from the date of
appointment.
(b) Interim resolution professional shall make the public announcement within 5 days from the date of
appointment.
(c) Interim resolution professional shall make the public announcement within 7 days from the date of
appointment
(d) Interim resolution professional shall make the public announcement within 14 days from the date of
appointment.
Q.5 Order of Priority in which claims will be settled among various claimant will be:
(a) (1) Cost of Liquidation; (2) Workmen dues for 24 months; (3) Secured creditors; (4) Government dues.
(b) (1) Cost of Liquidation; (2) Workmen dues for 12 months; (3) Government Dues; (4) Secured
Creditors.
(c) (1) Cost of Liquidation; (2) Workmen dues for 24 months; (3) Government Dues; (4) Secured
Creditors.
(d) (1) Cost of Liquidation; (2) Workmen dues for 12 months; (3) Secured creditors, (4) Government dues.
26. Chapter 21 Integrated Case Studies
21.9
Answer – Integrated Case Study 3
Q. No. Answer Reason
Q.1 (b) Refer Sec. 21 of IBC, 2016.
The CoC shall comprise all financial creditors of the corporate debtor. A financial creditor or
the authorised representative of the financial creditor, if it is a related party of the corporate
debtor, shall not have any right of representation, participation or voting in a meeting of the
CoC.
Q.2 (d) Refer Sec. 21 of IBC, 2016 and Regulation 16 of IBBI (Insolvency Process for Corporate
Persons) Regulations, 2016.
CoC shall comprise all financial creditors. Operational creditors are not the members of CoC,
hence no voting right.
Q.3 (b) Refer Sec. 21 of IBC, 2016 and Regulation 16 of IBBI (Insolvency Process for Corporate
Persons) Regulations, 2016.
A member of the committee formed under this Regulation shall have voting rights in
proportion of the debt due to such creditor or debt represented by such representative, as the
case may be, to the total debt.
Voting right of the unsecured unrelated financial creditors will be
= 950 Crores / 3650 Crores
= 26.02%
Loan amount of unsecured unrelated financial creditors = 950 Crores.
Total Loan amount of members of CoC = 3650 Crores
(800 Crores + 700 Crores + 1200 Crores + 950 Crores)
Q.4 (a) Refer regulation 6 of IBBI (Insolvency Process for Corporate Persons) Regulations,
2016.
Interim Resolution Professional shall make the Public Announcement immediately after his
appointment.
“Immediately” refers to not more than 3 days from the date of appointment of the Interim
Resolution Professional.
Q.5 (a) Refer Sec. 53 of IBC, 2016.
As per provisions of Sec. 53 of the IBC, 2016, the proceeds from the sale of the liquidation
assets shall be distributed in the following order of priority:
1. the insolvency resolution process costs and the liquidation costs;
2. the following debts ranked equally between and among the following:
workmen's dues for the period of 24 months preceding the liquidation
commencement date; and
debts owed to a secured creditor in the event such secured creditor has relinquished
security in the manner set out in Sec. 52.
3. wages and any unpaid dues owed to employees other than workmen for the period of 12
months preceding the liquidation commencement date;
4. financial debts owed to unsecured creditors;
27. Integrated Case Studies Chapter 21
21.10
5. the following dues shall rank equally between and among the following
any amount due to the C.G. and the S.G. including the amount to be received on
account of the Consolidated Fund of India and the Consolidated Fund of a State, if any,
in respect of the whole or any part of the period of 2 years preceding the liquidation
commencement date;
debts owed to a secured creditor for any amount unpaid following the enforcement of
security interest.
6. any remaining debts and dues;
7. preference shareholders, if any; and
8. equity shareholders or partners, as the case may be.
28. Chapter 21 Integrated Case Studies
21.11
Integrated Case Study - 4
ABC (P) Ltd., a construction company launched its project in Greater Noida in 2015 whose completion date
was given as June, 2018. This project involved construction of residential units and office spaces. The
modus operandi was to invest around ₹1200 crore for developing the township under ‘committed returns
plan’. The ‘committed returns plan’ required the buyers to pay 80% of the sale consideration up-front at
the time of execution of the MOU and the promoters of ABC (P) Ltd. would undertake to pay 12% of the
‘advance money’ so received each month to the investors as ‘committed returns’ from the date of execution
of the MOU till the time actual physical possession of residential units/office space.
Armaan, an Architect by profession, was also interested in this plan and applied for a residential unit as
well as an office space. Under the ‘committed returns plan’, Armaan was required to make a payment of
₹4.80 Crores (i.e. 80% of the cost of ₹6.00 crore for a 4BHK apartment and an office space). According to the
MOU entered by Armaan with the company, he would be paid ₹4,80,000 per month through NEFT from
October, 2016 onwards till the handing over of the fully constructed property. The difference of ₹20.00 lacs
would be paid by Armaan when he will be having the possession of the apartment as well as office space.
Everything seemed to be fine in the first year as the company paid the ‘committed returns’ to the buyers
without any default but stopped the same thereafter without assigning any reason. Armaan got extremely
worried at the changed scenario. He contacted the officials of the company but received no reply. At a later
date, he was informed that the possession would be given within the next 2 years; but the time passed
without anything concrete to happen. Armaan discussed this matter with his friend, who informed him that
due to significant amendments in Insolvency and Bankruptcy Code, 2016 (IBC, 2016) home-buyers were
also the financial creditors of the builders and could initiate insolvency proceedings against the company.
He further clarified that ‘debt’ in this case was disbursed against the consideration for ‘time value of
money’ which is the main ingredient that is required to be satisfied in order for an arrangement to qualify
as financial debt and for the lender to qualify as a financial creditor under the scheme of IBC.
In the meantime, Armaan came across a public announcement through which claims from ‘Financial
Creditors’ as well as other creditors of ABC (P) Ltd. were invited. On further enquiry, he gathered that the
company had defaulted in repayment of a term loan of ₹100 crore which was obtained from National Bank
of India. Accordingly, the Hon’ble National Company Law Tribunal (NCLT), Delhi, on the application of
National Bank of India, had ordered the commencement of Corporate Insolvency Resolution Process (CIRP)
against the company. As mentioned in the public announcement, Armaan submitted his claim along with
proof thereof in ‘Form C’ through the specified e-mail.
Q.1 In the given case study, National Bank of India filed an application for corporate insolvency
resolution process (CIRP) with National Company Law Tribunal, Delhi against ABC (P) Ltd. for
default in repayment of term loan. If everything was in perfect order, from which date the corporate
insolvency resolution process would have commenced?
(a) From the date of submission of the application.
(b) From the date of admission of the application.
29. Integrated Case Studies Chapter 21
21.12
(c) From the date of ascertaining the existence of default by the NCLT.
(d) From the date of appointment of Insolvency Resolution Professional (IRP).
Q.2 Suppose Radhika, one of the directors of the company and relative of Mr. Rounak, promoter of the
company, had given a loan of ₹15,00,000 to ABC (P) Ltd. which remained outstanding when
Corporate Insolvency Resolution Process was ordered. As financial creditor whether she could be a
part of Committee of Creditors (CoC) after she submitted her claim in ‘Form C’.
(a) Yes, she could be a part of Committee of Creditors (CoC) as she had given loan to ABC (P) Ltd. which
was more than ₹5,00,000.
(b) No, she being a director of ABC (P) Ltd., could not be a part of Committee of Creditors (CoC).
(c) Yes, she could be a part of Committee of Creditors (CoC), if Interim Resolution Professional (IRP)
permitted her despite the fact that she was a director of ABC (P) Ltd.
(d) Yes, she could be a part of Committee of Creditors (CoC), if Interim Resolution Professional (IRP)
sought permission of minimum 75% of the shareholders of the company carrying voting rights.
Q.3 Suppose the application for Corporate Insolvency Resolution Process against ABC (P) Ltd. filed by
National Bank of India with the National Company Law Tribunal, Delhi is adjudged as incomplete in
respect of certain matters. It was intimated to National Bank of India through notice issued on 24th
October 2019. The said notice was received by National Bank of India on 26th October, 2019. The
time period within which the defects must be rectified by National Bank of India, so that insolvency
process may be started by the National Company Law Tribunal, Delhi.
(a) latest by 31st October, 2019
(b) latest by 2nd November, 2019
(c) latest by 5th November, 2019
(d) latest by 10th November, 2019
Q.4 In the given case study, Armaan, as ‘financial creditor’, could also move an application for corporate
insolvency resolution process because non-payment of debt by ABC (P) Ltd. was much more than the
minimum amount stipulated for triggering a default against the company. Indicate that minimum
amount by choosing the correct option:
(a) Rs. 50,000
(b) Rs. 1,00,000
(c) Rs. 10,00,000
(d) Rs. 1, 00,00,000
30. Chapter 21 Integrated Case Studies
21.13
Answer – Integrated Case Study 4
Q. No. Answer Reason
Q.1 (b) According to Section 7 (6), the corporate insolvency resolution process shall commence from
the date of admission of the application.
Q.2 (b) Refer First Proviso to Section 21 (2) which states that a financial creditor, who is a related
party of the corporate debtor, shall not have any right of participation or voting in a meeting
of the Committee of Creditors (CoC). Radhika being a director of the company was a ‘related
party’ in terms of Section 5 (24).
Q.3 (b) According to Proviso to Section 7(5), any defect in the application needs to be rectified
within 7 days of receipt of notice from the Adjudicating Authority. As the notice of NCLT was
received by National Bank of India on 26th October, 2018, so it needs to be rectified within 7
days of receipt of notice i.e. latest by 2nd November, 2018.
Q.4 (b) Refer Section 4(1) which states that the insolvency and liquidation in respect of corporate
debtors shall be triggered where the minimum amount of the default is Rs. 1,00,000.
Note: From Nov. 20 exam, answer will be (d) as limit revises to Rs. 1 Crore vide MCA notification
dated 24.03.2020.
31. Integrated Case Studies Chapter 21
21.14
Integrated Case study - 5
The issued and paid up capital of Satyam Textiles Limited (a Listed Entity) is ₹5 crores consisting of
5,00,000 equity shares of ₹100 each. The said company has 500 members.
The Board of Directors of the comprised of 9 directors namely:
Mr. Alpha Mr. Delta Mr. Zen
Mr. Beta Mr. Hexa Mr. Lee
Mr. Gamma Ms. Zuu Mr. Xuu
Out of the nine directors, Mr. Alpha, Mr. Delta and Mr. Lee. are Independent Directors in the company. The
Articles of Association of company provides that the sitting fees for each meeting of directors can be fixed
upto ₹1,00,000 per meeting.
In lieu of the increased responsibilities of directors, the entity is planning to increase the fees of directors
beyond ₹1,00,000 per meeting.
However, at the same time, company seeks guidance whether the sitting fees of Independent director for
each meeting of board and committee(s) thereof can be fixed at ₹70,000 which is lower as compared to
earlier years. Management of the Company is also planning to decrease the remuneration of independent
directors as compared to earlier year due to their limited role in the operations of the company.
The Listed Entity shall need to give Disclosure in the Boards’ Report regarding the Top 10 Employees in
terms of the remuneration drawn and other details including name of every employees employed
throughout the year or part of the year drawing remuneration beyond specified limit.
For the purpose of carrying out the valuation of the immovable properties standing in the name of the
company as required under the provisions of the Companies Act, 2013, Board of Directors of the company
proposes to appoint Mr. Mehta, an individual as the valuer.
In light of the above facts of the case scenario, answer the following Multiple-Choice Questions:
Q.1 Considering the statutory provisions of Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, the maximum sitting fees permitted for payment to directors of Satyam
Textiles Limited can be _____________.
(a) ₹90,000
(b) ₹1,00,000
(c) ₹1,00,100
(d) ₹1,00,101
Q.2 Decide whether the fees of Independent Directors of Satyam Textiles Limited can be decreased to
₹70,000 without decreasing the fees of other directors?
(a) Fees of Independent Directors of Satyam Textiles Limited can be decreased to ₹70,000 without
decreasing the fees of other directors.
(b) Fees of Independent Directors of Satyam Textiles Limited can be decreased to ₹70,000 without
decreasing the fees of other directors subject to approval of the board
(c) Fees of Independent Directors of Satyam Textiles Limited cannot be decreased to ₹70,000 without
decreasing the fees of other directors.
(d) Fees of Independent Directors of Satyam Textiles Limited can be decreased to ₹70,000 without
decreasing the fees of other directors subject to approval of the Central Government.
32. Chapter 21 Integrated Case Studies
21.15
Q.3 Board of Directors seeks your guidance as to the mode by which the remuneration to the
independent directors can be paid out of the following options:
(i) Monthly payment
(ii) Specified percentage of the net profit
(iii) Partly by monthly payment or partly by specified percentage of the net profit
Guide the Board of Directors as to the permissible mode of payment under the law.
(a) Option (i) and Option (ii)
(b) Option (ii) and Option (iii)
(c) Option (iii) only
(d) Option (i) or Option (ii) or Option (iii)
Q.4 The Board Report of the listed entity shall include a statement showing the names of top ten
employees in terms of remuneration drawn and the name of every employee of the company, who if
employed throughout the financial year, was in receipt of remuneration for that year, which, in the
aggregate, was not less than ____________________.
(a) ₹ 1.00 Crore
(b) ₹ 1.02 Crore
(c) ₹ 1.05 Crore
(d) ₹ 1.10 Crore
Q.5 A petition was submitted before the Tribunal signed by 40 members holding 10,000 equity shares of
the company for the purpose of relief against oppression and mismanagement by the majority
shareholders. Examining the provisions of the Companies Act, 2013, decide whether the said petition
is maintainable.
(a) Petition is maintainable
(b) Petition is not maintainable as it must be signed by atleast 50 members
(c) Petition is not maintainable as it must be signed by atleast 100 members
(d) Petition is not maintainable as it must be signed by members holding atleast 20,000 equity shares.
Q.6 Referring to the provisions of the Companies Act, 2013 read with the Companies (Registered Valuers
and Valuation) Rules, 2017, the Audit Committee is of the opinion that the Board of Directors does
not have right to appoint the valuer. Decide.
(a) Opinion of Audit Committee is incorrect as Board of Directors have right to appoint the valuer.
(b) Opinion of Audit Committee is correct as appointment of valuer is to be made by audit committee.
Board of Directors can appoint valuer only in absence of Audit Committee.
(c) Opinion of Audit Committee is incorrect as appointment of valuer is to be made by Nomination and
Remuneration Committee. Board of Directors can appoint valuer only in absence of Nomination and
Remuneration Committee.
(d) Opinion of Audit Committee is incorrect as appointment of valuer is to be made by Stakeholders
Relationship Committee. Board of Directors can appoint valuer only in absence of Stakeholders
relationship Committee.
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Economic Laws
Author : PANKAJ GARG
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No. oF Pages: 332