Forums
Negotiable instruments Video no 42
Corporate & Other Laws
answered on 23-Jun-20 09:54
Sec - 46, "As between such parties and any holder of the instrument otherthan a holder in due course, it may be shown that the instrument was delivered conditionally or for a special purpose only, and not for the purpose of transferring absolutely the property therein " Can u explain this provision?
latest answer
If itâ??s not holder in due course then negotiable instrument payable to bearer has to be delivered with condition or special purpose
surya prakash
CA Inter
★ 2K+
1
811
Negotiable instruments
Corporate & Other Laws
answered on 28-Jul-20 14:03
In India Promissory note payable to bearer can only be issued by RBI, but while explaining Delivery of NI point mam gave an example like Mr.B gave a promissory note ( payable to Mr.A or bearer) to Mr.A. and in turn Mr.A endorses that instrument with one condition. Now the endorsement becomes complete on DELIVERY and FULFILLMENT of the condition mentioned by Mr.A. My doubt is how Mr. B can issue a promissory note payable to DRAWER OR BEARER?
latest answer
The example has been corrected and uploaded.
surya prakash
CA Inter
★ 2K+
6
905
Validation of CA foundation Nov 2020 Course
Others
answered on 22-Jun-20 10:09
Sir will course be valid if examination date is extended.???
latest answer
Validity for Nov 20 courses is till end of Nov 20 exams or December 31st whichever is earlier. If the last exam date goes beyond Dec 31st, you will have to extend teh course. We shall let you know the formalities for the same at that time
Vaibhav Singh
CA Foundation
★ 3K+
2
776
Tax invoice
Indirect Taxation
answered on 22-Jun-20 08:45
Amendment with respect to tax invoice In revised invoice -details not mandatory is given RATE OF TAX In this case how we collect tax from customer without mentioning tax rate
latest answer
Tq sir
Kanaga Mani
CA Inter
★ 3K+
2
845
Pvaf
Accountancy
answered on 23-Jun-20 10:30
Sir once explain how to find present value of annuity future after finding a super profit in partnership video no. 5 of goodwill unit
latest answer
Just so that u understand the concept. Sir has also told, such factors would be given in the exam along with illustration
Jashwanth S
CMA Inter
★ 2K+
4
974
Person holding beneficial interest
Corporate & Other Laws
answered on 22-Jun-20 16:11
A person holding beneficial interest in some shares can exercise all of the right attached to such shares, So did he also has the right to transfer such shares and did he has the right to attend the AGM and vote on behalf of the owner of such shares?
latest answer
The registered member would be attending AGM. However in most cases the beneficial owner would seek a proxy from the registered owner and attend the meetings .
Shinisha Rose R
CA Final
★ 11K+
1
675
Cma inter
Others
answered on 22-Jun-20 00:37
Sir i have purchased paper 5 financial accounting full course for july 2020 attempt Now the exam has been poatponed to sep So the course will be extended ryt??
latest answer
Okay sir Thank you!
Srividya Vidya
CA Final
★ 0
2
731
Advanced accounting - Statutory reserves treatment in amalgamation
Accountancy
answered on 22-Jun-20 16:09
In nature of purchase we create a imaginary ac Amalgamation adj ac for incorporating statutory reserves! But we cant we create it out of free reserves? Becoz if we have to ise those reserves for something we wont have anything in hand and also if we reverse it when not needed it will just go back to free reserves! Why cant we do this?
latest answer
The acquiring company may choose to write off the Amalgamation adjustment account against free reserves. Also note that the amount as stated in Stated in Statutory Reserves should be retained.
Saran Vadivel
CA Inter
★ 2K+
1
703
Advanced Accounting- ESOP
Accountancy
answered on 22-Jun-20 16:09
In Illustration 5 of Employee Stock Option Plan (pertaining to P Ltd), when the options lapsed, we immediately transfered the amount that was already credited in ESOP Account for the options lapsed on 1.12.12 to the General Reserve. Instead of that, can we internally adjust the amount to be transferred in the subsequent years (I have done that working in the attached working note) just like how we solved the following problem i.e. Illustration 6 (pertaining to Choice Ltd)?
latest answer
Exactly! Thanks sir.
Suraj Narayanan
Qualified CA
★ 7K+
7
1K+
Chairman
Corporate & Other Laws
answered on 21-Jun-20 17:51
Whether a chairman is counted as a member for considering quorum and whether he has voting right in AGM?
latest answer
Yes, a chairman of meeting is elected from the members on the basis of raising of hands. Therefore he is a member. Also, the chairman of the company need not be the chairman of the meeting. For eg: Mr. Mukesh Ambani is the Chairman of Reliance Industries Limited. But it is not necessary he is the Chairman of the AGM of Reliance Industries Limited too. Pertaining to count for quoram, he is counted since only post setting quoram is the chairman elected. He does get to vote on an agenda. One special feature is that if there is no clear decision on a vote (That is, there are equal votes against and for an agenda), then the chairman gets the deciding vote.
Shinisha Rose R
CA Final
★ 11K+
1
834