CWA/ICWA Inter :: Business Laws and Communication Skills : June 2006

Comment on the following statements:

(i)	Sharing of profit is an essential element of partnership but it is not the conclusive evidence of partnership.
(ii)	Power of the Board of Directors to approve Annual Accounts can be delegated to a Committee of the Board.
(iii)	Sometimes in addition to two Directors and Company Secretary, CGM (Finance) also signs the Annual Accounts. Such additional signature has no legal sanctity.
(iv)	No notice is necessary for an adjourned meeting.
(v)	Miss Thomas I owe you Rs. 1000.00
(vi)	The Supreme Court is not bound by its own decisions.
(vii)	If the accounts are not prepared as per accounting principles or mandatory accounting standards, auditors should qualify their Report.
(viii)	Unstamped proxies are invalid.
(ix)	If Annual General Meeting is held beyond the statutory period and if no permission for extension has been granted, the meeting will be invalid.

Explain the term 'debenture'. What are the protections available to a debenture holder under the Companies Act? Do public deposits accepted by a company have the same protection?

A private limited company holds its annual general meeting on 31-5-2005 adopting the annual accounts for the year ending 31-3-2005. When should the next meeting be held for adopting the accounts for the year ending 31-3-2006?

The total strength of directors in a company is 12 out of which 6 are interested directors. If in a board meeting one interested and two not interested directors attend, is there a valid quorum?

Can the Cost Auditor be appointed as the Internal Auditor for the period for which he is conducted the cost audit?

While presenting the Balance Sheet and Profit & Loss Account to the shareholders, what documents also have to be attached to the accounts?

Can the books of accounts of a company be maintained at a place other than the Registered Office of the company?

State the procedures for change of Registered Office of a company (i) within the Local limit of same town and (ii) from one city to another within the same State.

Every termination of employment is retrenchment. Discuss with reference to the provisions of the Industrial Disputes Act.

Mr. Ram joined Bells Assam Ltd. on 26-11-1980 and superannuated on 31-5-2006. On the date of retirement, his monthly salary was Rs. 24,000/-. He also received overtime of Rs. 2,000/-. Calculate the amount of Gratuity.

Write explanatory notes on any four:
(a) Dematerialisation;
(b) Special audit;
(c) Supervening impossibility;
(d) Explanatory statement;
(e) Independant director;
(f) Mere mental acceptance is no acceptance.

Draft Company Secretary's Responsibility Statement which will form part of Corporate Governance Report in the Annual Report of a Listed Company.

Draft a suitable letter to a General Insurance Company demanding insurance claim for loss suffered by your company due to fire.

Being not satisfied with his performance, Management desires to revert a probationer to his previous permanent post. Draft a suitable order.

Board of Directors of your company desires to pass some resolutions by the shareholders by resorting to postal ballot. Draft the suitable letter to the local post master in order to despactch them expressing desire to collect them against payment on counter.

Draft a suitable charge-sheet against an employee for using abusive language towards his superior.

Write a letter to a leading newspaper in which some damaging news have been published about your products.