Prohibition on buy back

answered 2 days ago

*Question* From below default in payment of dividend is mentioned in sub section(1) as well as sub section(2) So if company has defaulted in payment of dividend *weather it is necessary that 3 years period must be elapsed after default is remedied or not?* *Provision*: Prohibition on buy back by company (1) if a default is subsisting, in repayment of deposit or interest payable thereon, redemption of debentures or preference shares or payment of dividend to any shareholder or repayment of any term loan or interest payable thereon to any financial institutions or bank. Provided that the buyâ??back is not prohibited if the default is remedied and a period of three years has elapsed since the cessation of the default. (2) In accordance with schedule III, no company shall directly or indirectly purchase its own shares or other specified securities in case such company has not complied with provisions of Sections 92 (filling of annual return), 123 (payment of dividend within 30 days of declaration), 127 (failure to distribute dividend) and 129 (preparation of financial statement of the company)

latest answer

Yes, the 3 years period must be elapsed. For example, if M/s Mahindra wants to buyback its shares on 10th July, 2022; then the company must have re-paid or remedied the dividend (if defaulted) before 10th July,2019 (3 years preceding from 10th July,2022). Then the prohibition of buyback does not apply. Hope it is clear.

Hrishikesh Ransing

CA Inter

★ 3K+

1

42

Ca registration

answered 2 days ago

Hi, I am registering on CA foundation on ICAI website. I have studied 11-12th from Cambridge A levels, in that i completed 11-12th in single year, so the difference between 10th and 12th is just one year, and minimum difference between 10th and 12th must be 2 years, according to ca website, so what should I do?

latest answer

Where did they mentioned that ? Can you send any Screenshot ? I think qualifying 12th Standard is sufficient.

preet jain

CA Foundation

★ 0

1

65

Logical Reasoning

answered 2 days ago

Blood Relations

latest answer

Yeah thanks

Phalle Vaishnavi

CA Foundation

★ 160

5

58

Internal reconstruction

answered 2 days ago

Here in notes to accounts 180000 equity shares 2.5 each but total is 460000....if i calculate i get 184000 equity shares but in class also sir didn't mention that calculation...in class sir take 180000 equity shares 2.5 each and total 460000....can anyone please explain it

latest answer

Yeah.. thank you bro

Sai Prasanna Ch

CA Inter

★ 19K+

6

58

Theory

answered on 28-Jun-22

Isn't it both as for mutually exclusive The limits appear same but for mutually inclusive it appears different. Ques 33

latest answer

You are right in principle. But here there is another way of interpreting too. In exclusive classification, upper limit of one class is the same as the lower limit of the successive class. But there, upper limit is excluded from that class and inluced in next class. Example: In mutually exclusive classification, 10-20, 20-30, 30,-40, 20 will be included in 20-30 and not 10-20. So, we may say 20 is not actually the upper limit of 10-20 as upper limit is defined as maximum value that class interval may contain and it will be less than 20 only. So, fine line here. Don't worry, as exam today. If this question gets asked, you can go with option b.

Sugam Sm

CA Foundation

★ 4K+

1

37

Time Value of Money

answered on 28-Jun-22

Plz guidee in this question.

latest answer

Generally, the more decimal places we consider, the more accurate the answer will be, but here even after considering all the decimal places up to 11 digits we are getting Rs1,44,871 only. So nearest value has to be taken - Rs1,44,890

varun mulay

CA Foundation

★ 29K+

3

52

LR doubt?

answered on 27-Jun-22

Who is the ans for the question which is given below

latest answer

all the best

Bala Chandar

CA Foundation

★ 6K+

7

54

CARO 2020 - Fixed Assets - Revaluation

answered on 28-Jun-22

If the fixed asset is revalued that is < 10% of carrying amount but not revalued from registered valuer, Is to be specified or not ?

latest answer

Thanks Mam

Prethivi Rajan

CA Inter

★ 7K+

2

34

Time value of money

answered on 27-Jun-22

Can anyone tell how to calculate the value of (1.1)^2.4 in calculator? Can anyone also tell how to find value of decimal exponents?

latest answer

Good. In addition to above, you may also watch this video: https://youtu.be/NLUOJfjb1nc

Pranaya Ramaprasad

CA Foundation

★ 0

4

61

Overheads

answered 2 days ago

In this 4th question, why they have not included computer hire charges as overheads

latest answer

They have added in(vii) to general common overheads when usign machines with computer

vs navin

CA Inter

★ 490

4

37