Part 1: Corporate Laws – 70M

       Section A: Company Law – 50M

To acquire the ability to analyse, interpret and apply the provisions of the company law in practical situations.

       Section B: Securities Laws – 20M

To acquire the ability to analyse the significance provisions of the SEBI Act.

Part II: Economic Laws – 30M

       To acquire the ability to analyse the significant provisions of select Economic Laws

 

The detailed skill-wise and section-wise weightage of marks to be adhered to is given in the blue print for skill assessment attached as Annexure I.

Specific inclusions/exclusions from the syllabus is given by way of study guidelines, if required. It needs to be ensured that no question is set on the exclusions given in the study guidelines.

Instructions

1. All the questions will be compulsory
2. All the questions will be case scenario/case study based which are followed by 2 to 5 MCQs only.
3. Case scenario/case study may be based on topics from the same section as provided in section wise & skill wise weightage grid.
4. MCQs should not be made on stand-alone basis rather they should arise from the facts of case scenario.
5. Drafting of scenarios and MCQs based on such scenarios need to be of such standard that possibility of dual interpretation leading to multiple correct answers is eliminated.
6. Each MCQ should have four options out of which there should be only one correct option.
7. The options should be such that a candidate needs to have good knowledge of the provisions and apply the same correctly to the case in hand to choose the correct option. In effect, the answer should not be apparent.
8. No reasoning is required for the answer to MCQs.
9. There is no negative marking for wrong answers.
10. The syllabus is assessed by a three hour computer based examination.
11. The mix of questions and the nature of objective test questions per se mean that some questions will take longer to answer than others. The question paper should be such that a student is able to solve the paper within specified time of 3 hours.
12. The proportion of numbers to words w.r.t questions followed by no. of MCQs, will vary slightly from exam to exam. It is not possible to make exactly same in every exam, nor is it deemed necessary to do this. The mix will change slightly depending on the topics being examined, among other things.

Skill Description:

Evaluation and synthesis part (E & S)

The questions should test the candidates higher level skills of integration, analysis and application of provisions of laws to:

• Make computations or calculations
• Examine the validity of the appointments, declarations, maintenance of petitions or
• Examine the scenario/transactions and make appropriate recommendations/formalities required in compliances.

Application and Analysis (A & A)

The questions involving application and analysis may compromise of questions testing the students ability to analyse and apply the concepts/provisions/theories/principles of law in problem.

It may also comprise of computational and non-computational questions requiring the candidates to analyse and apply the provisions of law to determine the damages and liability of a person, computation of remuneration/sitting fees or examine

• The validity of certain claims/Rights
• Responsibilities / liabilities of the wrongdoer.
• The correctness or otherwise of the statements given therein etc.

Knowledge & Comprehension (K & C)

Questions based on knowledge and comprehension may involve simple application of relevant provisions.

Applicability of legislative amendments vide Notifications/circulars

The April 2023 Edition of the study material contains amendments made upto 30^th April, 2023. The study material is relevant for May 2024 examinations

Students are expected to be updated with the notifications, circulars and other legislative amendments made upto 6 months prior to the examination.

For instance, for May 2024 examination, significant notifications and circulars issued upto 31^st October 2023 would be relevant.

The relevant amendments made after the issuance of this study material i.e. from 1^st May 2023 to 31^st October 2023 will be webhosted for May 2024 examinations.

General Guidelines

1. The length of the question paper as a whole should not unreasonably cut into the time available for the students to read and understand the questions and then mark the answers. The question paper should be such that a student is able to solve the paper within the specified time of 3 hours.
2. It is suggested that the length of the question should be reasonable and should be in consonance with the marks allotted to the questions and efforts involved to solve the question.
3. Sometimes, the information given in the question is incomplete or confusing. Therefore questions should be checked thoroughly for completeness and clarity. Adequate attention should also be given to drafting of the questions and proof reading of the same before they are printed.
4. Many a times, the question paper contains questions which can have alternative solutions owing to the possibility of solving the same with different assumption. Such questions should be avoided. The language of the question should be clear and unambiguous, leaving no scope for alternate assumption.
5. The question paper should be a balanced one covering the syllabus comprehensively.
6. MCQs beyond the scope of syllabus should be strictly avoided.
7. Care should be taken to avoid cyclical repetition of questions.

ANNEXURE I

 

	Set A: Corporate and Economic Laws (100 Marks) Part I: Corporate Laws (70 Marks)
Sectio ns	Section- wise weightage	Content Area	Level I	Level II	Level III
			K&C	A&A	E&S
		Part –I: Corporate Law (70 Marks)	15%- 20%	55%- 65%	20%- 25%
		Section A: The Companies Act, 2013 and Rules framed thereunder in its entirety with specific reference to Section 149 onwards	(10-14 Marks)	(39-46 Marks)	(14-17 Marks)
I	35%-45% (18-23 Marks)	(i)     Appointment and Qualification of Directors (ii)     Appointment   and      remuneration   of Managerial Personnel (iii)    Meetings of Board and its powers	√	√	√
II	25%- 30% (13-15 Marks)	(iv)     Inspection, inquiry and Investigation (v)        Compromises,       Arrangements       and Amalgamations (vi)      Prevention     of       Oppression           and Mismanagement	√	√	-
III	30%-35% (15-18 Marks)	(vii)     Winding Up (viii)    Miscellaneous Provisions (ix)      Adjudication, Special Courts,       National Company Law Tribunal	√	√	-
		(x) e-Filing*	-	-	-
		Section B: Securities laws
	(20 Marks)	The Securities Exchange Board of India Act, 1992 and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, SEBI  (Issue  of  Capital  and Disclosure Requirements) Regulations, 2018, SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, SEBI (Prohibition of Insider Trading) Regulations, 2015.	√	√	-

* Since the question will be based on any of the chapters pertaining to the Companies Act, 2013, so no separate section-wise weightage is assigned to this chapter.

 

		Part II: Economic Laws (30 Marks)
Sectio ns	Section- wise weightage	Content Area	Level I	Level II	Level III
			C&K	A&A	E&S
			45%-55% (13 – 17 Marks)	45%-55% (14- 16 Marks)
I	35%- 40% (11-12 Marks)	1.    The Foreign Exchange Management Act, 1999	√	√	-
II	20%- 30% (6-9 Marks)	2.      The Foreign Contribution Regulation Act, 2010	√	√	-
III	35%- 40% (10-12 Marks)	3.     The Insolvency and Bankruptcy Code, 2016	√	√	-

 

SYLLABUS

SET A

PAPER: CORPORATE AND ECONOMIC LAWS (100 MARKS)

PART–I: CORPORATE LAWS (70 Marks)

SECTION A: COMPANY LAW (50 Marks)

Objective:

To acquire the ability to analyse, interpret and apply the provisions of the Company Law in practical situations.

Contents:

The Companies Act, 2013 and Rules framed thereunder in its entirety with specific reference to section 149 onwards:

• Appointment and Qualifications of Directors
• Appointment and Remuneration of Managerial Personnel
• Meetings of Board and its Powers
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression and Mismanagement
• Winding Up
• Miscellaneous Provisions
• Adjudication, Special Courts, National Company Law Tribunal
• e-Filing

SECTION B: SECURITIES LAWS (20 Marks)

Objective:

To acquire the ability to analyse the significant provisions of the SEBI Act. Contents:

Overview of the Securities Exchange Board of India Act, 1992, and references of following Regulations:

• SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015
• SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011
• SEBI (Prohibition of Insider Trading) Regulations, 2015

PART II: ECONOMIC LAWS (30 MARKS)

Objective:

To acquire the ability to analyse the significant provisions of select Economic Laws.

Contents:

1. The Foreign Exchange Management Act, 1999 and significant Rules and Regulations: Introduction, Broad structure of FEMA, Definition, Regulation and Management of Foreign Exchange, Contraventions and Penalties in brief, Miscellaneous Provisions.
2. The Foreign Contribution Regulation Act, 2010 and its Regulation: Definitions, Regulation of Foreign Contribution and Miscellaneous Provisions.
3. The Insolvency and Bankruptcy Code, 2016 and significant Rules and Regulations: Significant concepts covered uptill section 33 of the Code.

Note: If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.

The specific inclusions / exclusions in the various topics covered in the syllabus will be affected every year by way of study guidelines, if any.

Corporate and Economic Laws - Specimen Exam

Exam Summary

Time allowed: 3 hours.

This exam is divided into three sections:

Section A: Company Law

• Seven case studies- containing MCQs of 2 marks each

Section B: Securities Laws

• Three case studies- containing MCQs of 2 marks

Section C: Economic Laws

• Five case studies- containing MCQs of 2 marks

In case other changes are desired in the question paper, care needs to be taken to ensure that the section-wise weightage and skill-wise weightage are adhered to.

ALL QUESTIONS ARE COMPULSORY.