Date: 17/10/2015.
Duration: 3 Hrs.
Marks: 100 Marks.
1.
a) As per AS 29 “Provisions, Contingent Liabilities and Contingent Assets” a provision should be recognized if – i.
There is present obligation on account of past event ii.
It is probable that there shall be an outflow of resources to settle such obligation and iii.
A reliable estimate can be made for the amount of obligation
(1 Mark)
(i) In the given case, there is neither any present obligation as a result of past event, nor a reliable estimate can be made of the amount of obligation. Accordingly, a provision cannot be recognized for such contingencies under the facts and circumstances of the case.
(2 Marks)
(ii) “Provision” is the amount retained by the way of providing for any known liability. Since the contingencies stipulated by the company are not known at the balance sheet date, the provision in this regard cannot be created. Therefore, the provision so created by the company shall be treated as a “Reserve”.
(2 Marks) b) Determination of Landed Cost of Brain Scan Equipment:
Particulars Amount
(Rs. in lakhs)
250
20
30
300
Purchase Cost ($5 X 50)
Add: Sea Freight
Transit Insurance, bank charges, etc. ($.12 X 5 X 50)
Landed Cost on 01.04.10
Page 1 of 15

Company follows WDV method of depreciation.
Government grant of Rs.94 lakhs was received on 01.04.10, which has been treated as deferred income. Every year transfer shall be taken from deferred government grant account to profit and loss account in proportion of depreciation charged. This is shown as under –
Year
2010 – 11
2011 – 12
2012 – 13
2013 – 14
* 94 X (120 / 261.12)
Depreciation @
40%
120
72
43.2
25.92
261.12
Deferred Gran
Recognized in P & L
A/ct
43.20*
25.92
15.55
9.33
94
Government grant is refunded on 01.04.13, on which date balance in deferred government grant account is Rs.9.33 lakhs.
Accounting Entry:
Deferred Government Grant A/c
Profit and Loss A/c
To Bank A/c
(Being return of grant received in April 2010 due to non-fulfillment of conditions)
Dr.
Dr.
9.33
84.67
94
(5 Marks) c) Determination of Cost of Plant:
Quoted Price
Less: Cash Discount @ 1.25%
Add: VAT @ 12.5% on quoted price
Transportation cost @ 2% on quoted price
Erection cost @ 3 % on quoted price
Preoperative cost
Borrowing cost (125 X 14.5 % X 3 / 12)
Cost of Plant
(Rs. in lakhs)
180.00
2.25
177.75
22.50
200.25
3.60
5.40
1.50
4.53
215.28
(5 Marks)
Notes:
(i) VAT is determined on quoted price as demanded by question.
(ii) Borrowing cost is determined only for the period 01.10.10 to 31.12.10.
(iii) Costs incurred after the asset is available for use (though not put to use) cannot be capitalized.
Page 2 of 15

d) Finance lease is recorded in the books of lessee as an asset as well as liability at lower of –
(i) Fair value of asset leased i.e. Rs.1,50,000; or
(ii) PV of Minimum Lease Payment (MLP) determined as under:
Year PV
1 – 5
5
Lease
Payment
40,000
14,000
PVF
(12.6%)
3.554
0.552
1,42,160
7,728
1,49,888
(3 Marks)
Journal Entry:
Asset on Lease A/c
To Lessee A/c
(being recognition of finance lease as asset and liability)
Dr. 1,49,888
1,49,888
(2 Marks)
2.
Statement of piecemeal distribution of cash:
Particulars
Balance b/f
1st Instalment
Dissolution expense
Commission to C @ 1% of realisation
Balance available
Paid to Creditor
Balance available
2nd Instalment
Commission to C @ 1% of realisation
Balance available
Paid to Creditor
Balance available
Paid to B's Loan
Balance available
10% paid to C (12485*10/110)
Balance available
Cash
(` )
275
Creditors B’s Loan
18,650
(3,000)
(` )
15,900
(` ) A
4,500 15,000
Capitals (`)
B C
7,500 15,000
(187)
15,738
(15,738) (15,738)
0 162
17,320
(173)
17,147
(162)
16,985
(4,500)
12,485
(1,135)
11,350
(162)
0
(4,500)
0 0
Page 3 of 15

Paid to Partner C (See WN1)
Balance available
Paid to A & C (4:3) (See WN1)
Balance available
3rd Instalment
Commission to C @ 1% of realisation
Balance available
10% paid to C (9,900*10/110)
Balance available
Paid to A & C (4:3) (See WN1)
Balance available
Paid to A, B & C (4:3:3)
Balance available
Last Instalment
Commission to C @ 1% of realisation
Balance available
10% paid to C (6,930*10/110)
Balance available
Paid to A, B & C (4:3:3)
Loss suffered by Partners
0
0
0
0
0
Working Note:
A.
Calculation of excess capital using highest relative capital method:
Particulars A
Actual Closing Capital
Profit Share
Capital / share
Taking B's Capital / share as base
Excess Capital
15,000
4
3,750
10,000
5,000
Profit Share
Capital / share taking A's Capital / share as base
Excess Capital
4
1,250
5,000
0
(3,750)
7,600
(7,600)
0
10,000
(100)
9,900
(900)
9,000
(1,150)
7,850
(7,850)
0
7,000
(70)
6,930
(630)
6,300
(6,300)
B
7,500
3
2,500
7,500
0
0
0 15,000
(4,343)
0 10,657
(657)
(3,750)
7,500 11,250
(3,257)
7,500 7,993
(493)
0 10,000 7,500 7,500
(3,140) (2,355) (2,355)
0 6,860 5,145 5,145
0 (2,520) (1,890) (1,890)
4,340 3,255 3,255
C
15,000
3
5,000
7,500
7,500
3
2,500
3,750
3,750
Page 4 of 15

3.
a) Statement showing liability of underwriters when benefit of firm underwriting is not given
Particulars A B
Gross liability
Less : Marked applications
Less: Unmarked applications in gross liability ratio
(Refer W.N.)
Excess of B distributed to A and C in the ratio of 4:1
Add: Firm underwriting
Final/Total liability of the underwriters
Working note:
Calculation of number of unmarked applications:
Particulars
Total subscription (excluding firm underwriting) 1,70,000-24,000
Less: Marked application (excluding firm underwriting)
Unmarked application by public
Add: Application under firm underwriting b)
Total unmarked application
1,20,000
38000
26,000
10000
36,000
50000
40000
82,000 10,000
48,000 20000
34,000 (10,000)
8000 10000
0
8000
C
30000
12000
18,000
12000
6,000
2000
4,000
6000
Shares
1,46,000
90,000
56,000
24,000
80,000
Total
2,00,000
90,000
1,10,000
80,000
30,000
20,000
30,000
24,000
8,000 10,000 54,000
1.
12% Debentures Account
Date Particulars ` Date
31 st March,
2012
To Debenture 7,50,000 1 st April,
2011
Particulars
By Balance b/d
`
7,50,000 holders A/c
7,50,000 7,50,000
2.
Sinking Fund Account
31 st
Date
2012
Particulars `
A/c 10% Sec.
Date
Fund 2011
Investment
Particulars
March, To Sinking 15,000
1 st
April, By Balance b/d
Bond (loss)
`
6,00,000
31 st March, To General 31
2012 st March, By Profit and loss reserve A/c 7,70,000 2012 A/c (tfr for yr 11-12) 1,20,000
(Bal.fig.)
By Interest on sinking fund
A/c [Interest on
10% Govt. bond
(` 6,50,000 x
10%)]
65,000
7,85,000
Page 5 of 15
7,85,000

3. Sinking Fund Investment A/c (10% Secured Govt. Bonds)
` `
1st April, To Balance b/d
2011
6,00,000 31st By Bank A/c 5,85,000
March, (6,50,000 x 90% =
2012 5,85,000)
By Sinking Fund
A/c 15,000
6,00,000 6,00,000
4.
31 st March,
2012
Bank Account
` `
To Balance b/d 3,00,000 31 st By 12%
To Sinking Fund March, Debenture
A/c (Interest) 65,000
2012
To Sinking fund By Balance
8,25,000
Investment A/c 5,85,000 c/d 1,25,000
9,50,000 9,50,000
5.
Debenture holders Account
` `
31 st
2012
March, To Bank A/c 8,25,000 31 st By 12% 7,50,000
March, Debentures
2012
By Premium on redemption of debentures 75,000
8,25,000 8,25,000
4.
In the books of Hari Narayan Ltd. (Amalgamated Company) Journal Entries
Particulars
1. Business Purchase A/c
To Liquidators of Hari Ltd.
To Liquidators of Narayan Ltd.
(Being purchase of business of Hari Ltd. and
Narayan Ltd.- Refer Working Note)
Dr.
Debit
`
25,12,000
Credit
`
11,52,000
13,60,000
2. Plant and Machinery
A/c Trade receivables
A/c Inventory A/c
Cash and Bank A/c
To Trade payables A/c
To General Reserve A/c (8,80,000 – 5,12,000)
To Business Purchase A/c
(Being assets and liabilities of Hari Ltd. taken over)
Page 6 of 15
Dr.
Dr.
Dr.
Dr.
12,80,000
1,52,000
1,00,000
1,08,000
1,20,000
3,68,000
11,52,000

3. Plant and Machinery
A/c Trade receivables A/c
Inventory A/c
Cash and Bank A/c
To Debenture-holders A/c (95% of
5,00,000) To Trade payables A/c
To Business Purchase A/c
Dr.
Dr.
Dr.
Dr.
17,00,000
1,25,000
1,35,000
1,00,000
4. Liquidator of Hari Ltd. A/c over)
To Equity Share Capital
A/c To Securities
Premium A/c
(Being equity shares issued at 20% premium to shareholders of Hari Ltd.)
5. Liquidators of Narayan Ltd. A/c To
Dr.
Equity Share Capital A/c
To 15% Preference Share Capital A/c
(Being issue of shares to discharge consideration)
6. Debenture-holders of Narayan Ltd. A/c To
Debentures A/c
(Being own debentures issued against debentures of
Narayan Ltd.) purchase
11,52,000
Dr. 13,60,000
Dr. 4,75,000
4,75,000
2,25,000
13,60,000
9,60,000
1,92,000
8,60,000
5,00,000
4,75,000
Particulars
I.
Equity and Liabilities
(1)
Balance Sheet of Hari Narayan Ltd. after amalgamation
Note No.
Shareholder's Funds
(a) Share Capital
(b) Reserves and Surplus
1
2
(2) Non-current Liabilities
Long-term borrowings 3
(3) Current Liabilities
Trade payables
II.
Assets
(1) Non-current assets
Fixed assets Tangible assets
(2) Current assets
Total
4
(a) Inventories
(b) Trade receivables
(c) Cash and cash equivalents
Total
`
23,20,000
5,60,000
4,75,000
3,45,000
37,00,000
29,80,000
2,35,000
2,77,000
2,08,000
37,00,000
Page 7 of 15

Notes to Accounts:
1 Share Capital
Equity Shares of ` 10 each
Preference Shares of ` 10 each
2 Reserves & Surplus
General Reserves
Security Premium
`
18,20,000
5,00,000
23,20,000
3,68,000
1,92,000
5,60,000
3 Long Term Borrowings
Secured Debentures 4,75,000
4,75,000
4 Tangible Assets
Plant & Machinery 29,80,000
29,80,000
Working Notes:
Computation of Purchase Consideration
1) For Hari Ltd., the Payment Method is applied for determining the Purchase Consideration. Hence, the amalgamation is accounted under Pooling of Interests method.
Number of shares to be issued by Hari Narayan Ltd. for Hari Ltd.’s shareholders = 64,000 x 3/2 = 96,000 shares.
Since, the issue price is ` 12 per share, the Purchase Consideration is 96,000 x 12 = ` 11,52,000.
2) For Narayan Ltd. the Net Assets Method is applied for determining the Purchase Consideration. Since, the assets are not taken over at book value; the amalgamation is accounted under Purchase method.
`
Assets taken over:
Plant and Machinery
Trade receivables
(20,00,000 less 15%) 17,00,000
1,25,000
(1,50,000 less 10%) Inventory
Cash and Bank balance
Total Assets
Less : Liabilities
Trade payables
Secured Debentures
Net Purchase Consideration
Discharge:
Preference Shareholders
Equity Shareholders (bal. fig.)
1,35,000
1,00,000
20,60,000
(2,25,000)
(4,75,000)
13,60,000
(7,50,000 x 2/3) 5,00,000
(13,60,000-5,00,000) 8,60,000
13,60,000
Page 8 of 15

5.
a)
Form B- KLM Bank Ltd.
Profit & Loss Account for the year ended 31.03.2012
Schedule
I. Income
Interest Earned
Other Income
II. Expenditure
Interest Expended
Operating Expenses
Provisions and contingencies
III. Profit/(Loss)
Net profit/loss(-) for the year
Profit/loss(-) brought forward
IV. Appropriations
Transfer to Statutory reserves @ 25%
Proposed Dividend
Balance carried over to balance sheet
Particulars
Schedule 13 – Interest Earned i. Interest/discount on advances/bills (Refer W.N.)
Schedule 14 – Other Income i. Commission, exchange and brokerage ii. Profit on sale of investment iii. Rent received i. Interests paid on deposits
Schedule 15 – Interest Expended
Schedule 16 – Operating Expenses i. Payment to and provisions for employees (salaries & allowances) ii. Rent, taxes paid iii. Depreciation on assets iv. Director’s fee, allowances and expenses v. Auditor’s fee vi. Statutory (law) expenses vii. Postage and telegrams viii. Preliminary expenses
∗
Page 9 of 15
13
14
Total
15
16
Total
Total
Total
Year ended
31.03.12
37,95,160
4,87,800
42,82,960
22,95,360
5,70,340
12,92,500
41,58,200
1,24,760
-
1,24,740
(31,190)
(50,000)
43,550
1,24,740
`
37,95,160
37,95,160
1,90,000
2,25,800
72,000
4,87,800
22,95,360
22,95,360
2,50,000
1,00,000
40,000
35,000
12,000
38,000
65,340
30,000
5,70,340

Working notes:
1.
Details of Interest & Discount & Provisions & Contingencies:
Particulars
1. Interest and Discount
Interest and discount received
Add: Rebate on bills discounted on 31.3.2011
Less: Rebate on bills discounted on 31.3.2012
2. Provisions and Contingencies
i. Provision against bad-debt of customer
ii. Other debts iii. Income Tax iv. Provision on Non Performing Assets
`
38,00,160
15,000
20,000
37,95,160
4,50,000
2,00,000
2,00,000
4,42,500
12,92,500
2.
Provisions for NPA
Particulars
Standard Assets
Sub Standard Assets *
Doubtful Assets not covered by security
Doubtful Assets covered by security
For 1 year
Loss Assets
* It is assumed that all sub standard assets are fully secured.
Amt ( `)
30,00,000
1,20,000
2,00,000
50,000
2,00,000
% provision
0.40
15
100
25
100
Provision
12,000
18,000
2,00,000
12,500
2,00,000
4,42,500 b)
Form A-RA
Happy Life Insurance Co.
REVENUE ACCOUNT FOR THE YEAR ENDED 31 st MARCH, 2013.
Policyholders ’ Account (Technical Account)
Particulars Schedule
C.Y.
(Rs. ’000)
Premiums earned – net:
(a) Premium
Income from Investments:
(a) Interest, Dividends & Rent – Gross
Other Income :
Considerations for annuities granted
Registration and other fees
TOTAL (A)
Commission
Operating Expenses related to Insurance Business
1
2
3
17,028
2,180
2
2
19,212
315
3282
P.Y,
(Rs. ’000).
Page 10 of 15

Provisions (other than taxation) (950 – 300 + 110)
TOTAL (B)
Benefits Paid (Net)
TOTAL (C)
SURPLUS (D = A – B – C)
Appropriations:
Balance being funds for future operations
Particulars
Schedule I - Premium
Premium received
Add: outstanding premium
Schedule II - Commission Expenses
Commission paid
Add: commission on reinsurance accepted
Schedule III - Operating expenses related to
Insurance business
Expenses of management paid
Add: Outstanding expenses
Less: Prepaid expenses
Printing and stationery
Depreciation on:
Furniture
Building
Schedule IV - Benefits Paid (net)
Claims by death
Paid
Add: Outstanding at the end of the year
Less: Outstanding at the beginning of the year
Claims by Maturity
Paid
Add: Outstanding at the end of the year
Less: Outstanding at the beginning of the year
Annuities
Surrenders
Page 11 of 15
4
760
4,357
3,246
3,246
11,609
11,609
` Lakhs
3,160
15
15
45
2,200
600
2,800
900
3,100
60
1,500
400
1,900
600
` Lakhs
15,000
2,028
17,028
250
65
315
3,145
77
60
3,282
1,900
1,300
6
40
3,246

6.
a)
Particulars
A Final Profit/(Loss) (Computed earlier)
B Add: Departmental Manager’s Commission
@ 10% of Deptt. Profit subject to a minimum of ` 6,000 [Working Note (i)]
F
E
C Profit before Deptt. Manager’s commission (A+B)
D Less: Profit earned through transfer of goods at loaded price remaining in stock at transfer department (WN 2)
Correct departmental profit (before manager's commission) (C -D)
Less: Managers commission @ 10% of profit subject to a minimum of ` 6,000
G Departmental Profit after Manager's commission
A
` `
(38,000)
6,000
(32,000)
(2,200) -
(34,200)
(6,000)
(40,200)
50,400
6,000
56,400
56,400
(6,000)
50,400
Working Note:
1.
Manager’s Commission:
Deptt. Profit/Loss Commission
A
B
C
D
(-) 38,000
50,400
72,000
1,08,000
6,000
6,000 i.e. (50,400 x 1/9 = ` 5,600 less than ` 6,000)
8,000 i.e. (72,000 x 1/9 = ` 8,000)
12,000 i.e. (1,08,000 x 1/9 = ` 12,000)
B
`
2.
Unrealised Profit on stock transfer:
Dept. A: ` 22,000 to Deptt. B @ 110%, Profit thereon 22,000 x 10/110
` 1,200 to Deptt. D @ 120% Profit thereon 1,200 x 20/120
Dept. C ` 48,000 to Deptt. B 120% Profit thereon 48,000 x 20/120
` 3,600 to Deptt. D @ 120 % Profit thereon 3,600 x 20/120
`
2,000
200
2,200
8,000
600
8,600 b)
Particulars
To Balance b/d
To Goods sent to branch A/c
To Branch debtors A/c (returns)
To Branch Adjustment A/c
(surplus over invoice price)
Nagpur Branch Stock A/c
Amt. ( ` ) Particulars
12,000 By Goods sent to branch A/c
1,20,000 (returns)
1,600 By Bank A/c (cash sales)
4,800 By Branch debtors A/c (credit sales)
By Balance c/d
1,38,400
Page 12 of 15
`
C
`
72,000
8,000
`
D
`
1,08,000
12,000
80,000
(8,600) -
71,400
(7,140)
64,260
1,20,000
1,20,000
(12,000)
1,08,000
Amt. ( ` )
2,400
40,000
72,000
24,000
1,38,400

Particulars
To stock reserve 20% of
(closing stock)
(Gross profit)
`
To Branch profit & loss A/c
Particulars
24,000
Nagpur Branch Adjustment A/c
Amt. ( ` ) Particulars
4,800 By Stock reserve - 20% of ` 12,000
(opening stock)
25,920 By Goods sent to branch A/c - 20% of
` 1,17,600
By Branch Stock A/c
30,720
Branch Profit & Loss A/c
Amt. ( ` ) Particulars
To Branch expenses A/c
To Branch debtors A/c (discount)
To Branch debtors A/c (Bad debts)
To net profit (transferred to P&L)
To Bank A/c ( Rent, rates & taxes)
To Bank A/c (salaries & wages)
To Bank A/c (office expenses)
To Balance b/d
Particulars
To Branch Stock A/c
Particulars
Particulars
To Branch Stock A/c
To Branch adjustment A/c
To purchases A/c
16,800 By Branch adjustment A/c
1200 (Gross Profit)
800
7,120
25,920
Branch Expenses A/c
Amt. ( ` ) Particulars
3,600 By branch profit & Loss A/c
12000 (transfer)
1,200
16,800
Branch Debtors A/c
Amt. ( ` ) Particulars
14,400 By Bank A/c
72000 By Branch profit & Loss A/c (bad debts and discount)
By Branch Stock A/c (sales return)
By Balance c/d (bal. fig.)
86,400
Goods sent to Branch A/c
Amt. ( ` ) Particulars
2,400 By Branch Stock A/c
23520
94080
1,20,000
7.
a) Computation of Lease Rent:
Let the lease rent charged at the end of the year be Rs.X.
Year Lease
Receipt
PV PVF
(10%)
1 – 3 X 2.486 2.486X
3 1,33,500 0.751 1,00,258.5
1,00,258.5 + 2.486X
Page 13 of 15
Amt. ( ` )
2,400
23,520
4,800
30,720
(2 Marks)
Amt. ( ` )
25,920
25,920
Amt. ( ` )
16,800
16,800
Amt. ( ` )
64,000
2,000
1,600
18,800
86,400
Amt. ( ` )
1,20,000
1,20,000

It is given that the above Present Value shall be equal to cost of asset i.e. 16,99,999.5. Thus –
1,00,258.5 + 2.486X = 16,99,999.5
X = 15,99,741 / 2.486 = Rs.6,43,500
(1 Mark)
Total Unearned Finance Income = [(6,43,500 X 3) + 1,33,500] – 16,99,999.5
= 20,64,000 – 16,99,999.5
= Rs.3,64,000.5
(1 Mark) b) Amended AS 11 provides an alternate treatment of exchange differences arising on translation of LTFCL, whereby such exchange differences are adjusted to cost of depreciable fixed assets acquired from use of such LTFCL.
Option Ltd. can avail this alternative treatment but once this option is exercised, it is irrevocable.
(2 Marks)
Determination of amount of depreciation:
Particulars
Cost of machineries on 01.04.11 ($ 10 lakhs X 52)
Less: Exchange gain on translation of LTFCL
[$ 10 lakhs (52 – 51)]
Less: Depreciation for 2011 – 12 [510 – 20 / 10 years]
Carrying amount of machineries as on 31.03.12
Amount
(Rs. in lakhs)
520
10
510
49
461
(2 Marks) c) As per AS 4 “Contingencies and Events Occurring after Balance Sheet Date”, adjustments to assets and liabilities are required for events occurring after the balance sheet date that provide additional information materially affecting the determination of amounts relating to conditions existing at the balance sheet date.
(1 Mark)
In the given case, R Ltd. was sued by competitor for infringement of trademark during the year 2012-13 for which provision was also made by it. The decision of court on 18 th May 2013 for payment of the penalty will constitute as an adjusting event occurred before approval of the financial statements. Hence, R Ltd. should adjust the provision upward by Rs.4 lakhs to reflect the award decreed by the court to be paid by them to its competitor.
(2 Marks)
Had the judgment of the court been delivered on 1 st June 2013 it would be considered to be post reporting period i.e. event occurred after the approval of the financial statements. In that case, no adjustment in the financial statements of
2012-13 would have been required.
(1 Mark)
Page 14 of 15

d) As per Section 8 of LLP Act, unless expressly provided otherwise in this Act, a designated partner shall be-
1.
Responsible for the doing of all acts, matters and things as are required to be done by the limited liability partnership in respect of compliance of the provisions of this Act including filing of any document, return, statement and the like report pursuant to the provisions of this Act and as may be specified in the limited liability partnership agreement; and
2.
Liable to all penalties imposed on the limited liability partnership for any contravention of those provisions. e) Journal Entries
1. Bank A/c
To 11% Preference share application
& allotment A/c
(Being receipt of application money on preference shares)
2. 11% Preference share application & allotment A/c To 11% Preference
Share Capital A/c
(Being allotment of 1 lakh preference shares)
3. Securities Premium A/c
General Reserve A/c
To Capital Redemption Reserve A/c
(Being creation of capital redemption reserve for buy-back of shares) r
D
. r
D
. r
D r
D
.
4. Equity share capital A/c
General Reserve A/c
To Equity shareholders/Equity Shares buy back A/c
(Amount payable to equity shareholders on buy- back)
5. Equity shareholders/ Equity Shares buy-back A/c To Bank A/c
(Being payment made for buy-back of shares) r
D r
. r
D
.
Working Note:
Amount to be transferred to Capital Redemption Reserve account
`
10,00,000
10,00,000
16,00,000
14,00,000
40,00,000
48,00,000
88,00,000
`
10,00,000
10,00,000
30,00,000
88,00,000
88,00,000
Nominal value of shares bought back
(4,00,000 shares x ` 10)
Less: Nominal value of Preference Shares issued for such buy-back (1,00,000 shares x ` 10)
Amount transferred to Capital Redemption Reserve Account
`
40,00,000
(10,00,000)
30,00,000
Note : It is assumed that the buy-back of 4,00,000 equity shares from open market is within the prescribed
15% limit of total equity shares as per the SEBI Regulations
________________________________________________________________________________________________________________________________________________________________________________________________
Questions and Solutions prepared by Jai Shah, CA & CFA (USA)
M: +91-9601258161; website: www.ashishlalaji.net
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