Doubt

answered on 27-Jun-21 06:30

Why in this example grace days are not considered?

latest answer

Yes! They considered grace days , promissory note is presented jan 1, he made payment 4 th Jan(i.e three grace days from the maturity). Ans is Bharath can object the claim of Bhushan.

Sri kanaga Varshini

CA Final

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288

Sec 68

answered on 28-Jun-21 13:08

While computing debt equity ratio under this section, do we have to take current liabilities as well?

latest answer

They are not debt - they will not be included

Aman Mahajan

CA Final

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4

284

Acceptance of deposits

answered on 27-Jun-21 13:07

1. Whether eligible company can also accept unsecured deposits from public? 2. Whether deposits to be renewed every year during its tenure?

latest answer

1. It can. Provided such deposits are termed "unsecured deposits" in every circular, form , advertisement etc 2. No Such requirement of renewal

Nivedha Balaji

CA Inter

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266

Acceptance of deposits - Maximum amount for Private companies

answered on 26-Jun-21 20:20

The exception to maximum amount is given to start ups. Whether it is for 5 years or 10 years from its date of incorporation?

latest answer

Thank you sir

Nivedha Balaji

CA Inter

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7

271

Accounts of companies

answered on 26-Jun-21 09:37

2 point. What is this rule about?

latest answer

We see in point 1, set of companies which are required to file financials in e-form AOC-4 XBRL. Point 2 says, companies which have once filed financials under sub-rule (1) or under previous rules i.e. in e-form AOC-4 XBRL shall continue to do even if later they do not fall under categories specified.

Aman Mahajan

CA Final

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247

Creation of charge

answered on 26-Jun-21 08:48

Is creation of charge is mandatory or optional for companies

latest answer

If loan terms mandate creation of charge i.e loan is secured then charge has to be created. If it is an unsecured loan then charge is not required

SAIRAM SANKITI

CA Inter

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275

Charge

answered on 01-Jul-21 11:00

If the property on which charge has been created is replaced by some other property, whether it will be covered under modification of charge?

latest answer

Thank you ma'am.

Nivedha Balaji

CA Inter

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2

269

Doubt reg. Related party transactions

answered on 26-Jun-21 17:30

A private company has related party transactions. While doing its audit, is it sufficient if they disclose in form AOC2 that such transactions are at arm's length price, or should we obtain a separate declaration to that effect?? Please give your suggestion sir.

latest answer

PLease check with your principal as different firms have different policies

Darshini Pandiarajan

CA Final

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3

339

Doubt reg. Board resolution

answered on 25-Jun-21 19:34

Sir, in a private company, should board resolution be passed for borrowing money from the directors??

latest answer

Yes. (Sec: 179) Special resolution required if limit specified in Sec 180 crossed.

Darshini Pandiarajan

CA Final

★ 5

1

255

Indian contract act

answered on 25-Jun-21 19:36

Doubt I can't understand

latest answer

Ok sir I understand thank u very much

Aswini Gorige

CA Inter

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2

250