CA FINAL EXAM QUESTION

ACCOUNTS OF COMPANY X Ltd has a subsidiary company called Y Ltd. The financial year of the holding company is 31st March,whereas that of the subsidiary company ends on 30th June every year.The management of the holding company decides that the financial year of the subsidiary company for the year 1.07.2000 to 30.06.2001 should be extended upto 31.03.2002,so that the financial years of th holding and subsidiary companies end on 31st March every year.Advise the management about the steps to be taken under the Companies Act to achieve the purpose.(CA FINAL MAY 2001,NOV 2003,NOV 2005) Solution: Applicable section- Mention Section 212 of Companies Act Section213-Explain the power of Central Govt to extend the financial Year Explain the procedure for seeking extension

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CA FINAL EXAM QUESTION

CA FINAL EXAM QUESTION
BY MANIT KAUR (40TH RANK,MAY2008)
CO-ORDINATOR
STUDENT HELP DESK
MEMBER JAB WE MET CA
SUBJECT :CORPORATE LAWS AND SECRETARIAL PRACTICE
CHAPTER- DIRECTOR

MR X was appointed as managing director for life by the articles of association of a private company
Incorportated on 1st june 1970. The articles also empowered ‘X’ to appoint a successor.
‘X’ appointed ,by will, ‘G’ to succeed him after his death. Can ‘G’ succeed ‘X’ as managing director after the death of ‘X’.? CA (FINAL),NOV 1995

ANSWER : Steps involved to solve the above question :-
1) Mention Problem :-Can ‘G’ succeed ‘X’ after the death of ‘x’ ?
2) Mention Applicable Section: 312 of Companies Act 1956
3) Mention Case Law and Decision :-Oriental Metal Precessing Pvt Ltd. V B.K. Thakoor
4) Give Analysis : difference between Assignment V/S Appointment
5) Give Conclusion:- There is appointment not assignment. Therefore the appointment of ‘G’ is valid and it does not amount to an assignment of office by ‘X’.

DIRECTOR

SUBJECT :CORPORATE LAWS AND SECRETARIAL PRACTICE
CHAPTER- DIRECTOR
Mr Stubborn is a director of M/S Doubtful Industries Ltd. He along with other two directors has been running the company for past twenty years without declaring any dividends or giving any benefits to the shareholders. Frustrated by this, some shareholders are desirous of giving notice to pass a resolution with the support of other shareholders for his removal as a director in the annual general meeting of the company to be held in the month of December of 2001.State the procedure to be followed for the removal of Mr. Stubborn as a director and the right of stubborn to defend his position . CA (FINAL) NOV 2001

ANSWER : APPLICABLE SECTION :-284 of companies act 1956

Steps involved to solve the above question :-
Mention the procedure/steps for removal of director in sequence e.g
Mention case law to support your answer
Explain the exceptions
Give conclusions