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Expected Questions for May 23
exams
Chapter as Per ICAI
Topic
Preliminary
Incorporation of company and
matters incidental
Prospectus and Allotment of
securities
Corporate Laws
Sub-Topic Expected In Nov 22 Exams
1. Associate company definition
2. Foreign Company concept / definition
3. Dormant Company definition
4. Government Company / PFI Definition
1. Small Company (Amendment in LIMITS again) - IMPORTANT
2. S.8 Company ( Amendments in and penalty of S.8 is important )
3. Alteration of Situation clause - any scenario - long pending
4. S.10A Commencement of business (Amendment)
5. OPC - Focus on Amendment areas
6. Exceptions for subsidiary to hold shares in holding S.19
7. Alteration of articles and entrenchment provision
8. Section 16 - Rectification of Name (Amendment) - VERY IMPORTANT
FOR MAY 23
9. Doctines (Ultra vires/ Indoor management / Constructive notice) Long pending
1. Private Placement - Sub concepts - long due
2. S.447 Fraud ( Amendment) - Important
3. Shelf / Deemed prospectus / Underwriting commission - MCQ
4. Variation of terms of contract or object in prospectus S.27 - Important
5. S.28 Offer of sale of sharesby certain members of company Important
1. Securities Premium usage - S.52 2. Rights (Amendment - 7 days ) Procedure or related concepts
3. S.68 - Buy back IMPORTAMT THIS TIME
Share capital and debentures Only chapter where procedure
related questions can come
Deposits -
4. Sweat equity shares S. 54/ Shares with differential Voting rights S.43
Rule 4 / Vaariation of SH rights S.48 PROCEDURE or individual concepts
5. Forged transfer or provision related tp transfer or transmission
6. Reduction of share capital S.66 + S.67 restrcition of company to give
loans to buy back its own shares and its exceptions
1. Exemptions to Private companies (i.e allowed to raise 100% depoisit
etc ) and general exemptions of this chapter eg: NBFC etc - IMPORTANT
FOR MAY 23
2. Procedure to accept deposit from members/public by eligible
company - ALREADY TESTED IN NOV 22 MAY REPEAT IN MAY 23 - LESS
IMPORTANT - FOCUS MORE ON SMALL CONCEPTS WITHIN THIS +
DEPOSITS FROM MEMBERS
3. Punishment for Contravention (Amendment) - Important - 76A
1. S. 84 - Intimation for appointment of receiver
2. Date of notice of charge S.80
3. Modification of Charge
4. Section 77 - Duty of company to register the charge and time limits IMPORTANT
1. Declaration of beneficial interest S.89 & Significant beneficial Interest
S. 90 - Important
2. Annual Return S.92 - Important
3. special notice / AGM - Online possible? - concepts
Management and Administration 4. Circulation of Members Resolution
Expect more marks in may 23 from
5. Quorum /Proxy - Important
this chapter
6. Adjournment of AGM concepts (for want of quorum etc)
7. Postal Ballot voting/ Evoting
8. Concept of chairman - MCQ
9. Tribunal power to call AGM /EGM+ Minutes related concepts
1. IEPF ( Important)
Dividend ( Small and important 2. S.126 Dividend in Abeyance - Important
chapter - Please read this chapter 3. S. 127 - Penalty for non payment + exceptions
4. Interim Dividend - IMPORTANT FOR MAY 23
fully)
5. S. 124 Unpaid dividend Account
1. Voluntary revision of FS / Board's report S. 131 - Important or S. 130
too
Charges
Accounts of Company
2. CSR related provisions ( Amendment) - Very Important - S.135 - Asked
in May 22 , still important for MAY 23 - MOSTTT IMPORTANTTT
4. Signing of FS (s.134)
5. NFRA Related concepts (Important for May 23 ) / XBRL Limits
6.Learn few points of contents of boards report at a glance
7. Circulation of FS for Listed companies and other companies S.136
Audit and Auditors
Bailment and Pledge
1. MCQ - Remuneration or Auditor to attned GM
2. Penalty provisions ( Amendment) - S.147
3. s.144 Non audit services (IMPORTANT)
4. S. 143 ( Will be tested in Law or Audit paper) - Very Important - full
section
5. Resignation of Auditor concepts
6. Cost Audit - Important S.148 - MAY 23 IMPORTANT
7. Removal of Auditor concepts - Full S. 140 is important
1. Rights of Pawnee ( S. 173 to 177) - Need not mug up side headings,
just understand the concepts
2. General vs particular lien
3. Duties and Rights of Bailor / Bailee ( They will pick any one small
concept and test that, need not mug up all side headings, just
understand these concepts)
4. Finder of Lost goods concept
1. S.132 - Liability of 2 persons concept
2. Rights of Surety Fully is Important
Indemnity and Guarentee -
3. Discharge of surety by conduct of creditor concept - S . 134 or S. 135
4. Right of surety against principal debtor ,creditor and co surety Important
1. Ratification of act of an agent (modes of creation by ratification)
2. Minor as an agent
3. Extent of Agent's Authority in normal and emergency situation
Agency - Very few concepts have 4. Principal's & Agent's (Personal) liability to third parties ( And mainly
been tested in exam so far - Lots of exceptions of cases where agent is liable to third party is important for
new ones left, small concept will be May 23)
picked and tested
5. Rights of an Agent - They will pick any one small concept anf test
that, need not mug up all side headings, just understand these concepts.
6. Sub vs Substituted agent
Negotiable Instruments Act (
Basically anything can be tested,
vast syllabus for the weightage)
1. Inchaote or Ambigious instrument
2. Priviliges of Being a Holder in due course
3. Acceptor vs Acceptor vs honour & Essentials of valid acceptance of
Honor
4. Dishonour of cheque for no funds - S.138
5. Foreign and inland instrument (may repeat)
6. Section 143A and 148 ( Amendments) - Important
7. Liability of Third Parties
8. Presentation of Negotiable Instruments ( All sub concepts)
9. Various types of Indorsement (Less important)
10. Discharge of Negotiable instrument by MATERIAL ALTERATION Important - But tested in Dec 21, have a quick look
11. Concept of Negotiation back / Accomodation Bill (May repeat)
The general Clauses Act
Interpretation of Statutes
12. types of Crossing of Cheques - IMPORTANT
1. Immovable property / Affidavit / Document definition
2. Concept of Commencement of Enactment
3. Section 16 (power to appoint / suspend ) and 19 (Official chiefs)
4. Definition of Good faith
5. S.9 , S.10, S.11 , S.13 (Important)
6. Provision as to offence punishable under two or more enactments S.
26
7. S. 14 to 24 has never been tested - less important for exams - see only
if you have time.
1. Rule of Harmonious construction - Important for Nov 22
2. Elements of a document / Interpretation of deeds and document Important
3. Marginal Notes in Internal Aids or Foreign Decisions in External aids
4. Rule of Contemporaneoa Expositio
5. Rule of Exceptional construction
6. Heydon's Rule
7. Dictionary definition & Earlier and later laws in external aids
8. Doctrine of Noscitur a Sociis
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DISCLAIMER
The analysis provided here is prepared based on past attempts and prediction of the
faculty based on experience, please do not study only these topics, for your exam, you can
give more importance to these areas.