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Effective strategy to score good marks in CA Final Law with Weight-age

Effective strategy to score good marks in CA Final Law with Weight-age

In the last 2 -3 attempts, you will find a major shift in this exam. Lengthy and new cases are asked in exams. Proper planning is a must to complete the paper.

 

While studying for CA Final law, it becomes important to prioritize the topics to ensure that your mind space is not overwhelmed and that you make the best out of your ability to memorize well. Here are the high-priority topics to study: Insolvency and Bankruptcy Code, 2016, Foreign Exchange Management Act, 1999, Winding up, Directors- Appointment, Qualification, Remuneration, and Miscellaneous Provision.

 

You will require multiple revisions for this subject as you cannot be liberal with the language while quoting laws. You will not be able to mug up the terms until you understand them. Every law has a reason to exist. Understand the reasons. By term language, I am not meant to write as it is written in the ICAI mat, I know no student can write exactly and remember the same wording. From this, I only mean, your starting 2-3 lines and some generally used word in law.

 

Some sentences or words which can make your language well in law paper are – As per such and such section of companies act or such section of companies act provides where it appears to such institution & words like may deem fit, imposed restrictions, etc  – separate video on this will be provided

 

Go through the amendments carefully and thoroughly, it can cover around 10 to 15 marks. These are quite critical for the exam. In exams we can't predict a particular topic as imp we should have to get 100 percent coverage.

 

In long case studies, your understanding, practice, and preparation decide how easily you can crack these. You do not have to bother after seeing the case study – “ Ki yeh kya hai”. You have to check the question first in a case study then read the case because sometimes, a case study is designed in such a manner that some of the points are irrelevant and language is typical and students spend a lot of time on understanding only. You have to save yourself from this and read the question first.

 

Weightage and No. of Revision

Chapter No.

Chapter Name

Marks  weightage

No. of Revisions

 

Section-A: Company Law

 

 

  1.  

Appointment and Qualifications of Directors

8

2-3

  1.  

Appointment and Remuneration of Managerial Personnel

10

3-4

  1.  

Meetings of Board and its Powers

8

2-3

  1.  

Inspection, Inquiry, and Investigation

5

1

  1.  

Compromises, Arrangements, and Amalgamations

4

1

  1.  

Prevention of Oppression and Mismanagement

6

2

  1.  

Winding Up

7

2

  1.  

Producer Companies

Removed from syllabus

  1.  

Companies incorporated outside India

6

2

  1.  

Miscellaneous Provisions

6

2

  1.  

Compounding of Offences, Adjudication, Special Courts

4

1

  1.  

National Company Law Tribunal and Appellate Tribunal

5

1

  1.  

Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes, and Reports

8

2

 

Section-B: Securities Laws

 

 

  1.  

The Securities Contract

5

1-2

  1.  

SEBI

6

1-2

 

Part-II: Economic Laws

 

 

  1.  

The Foreign Exchange Management Act, 1999

6

2

  1.  

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

8

2

  1.  

The Prevention of Money Laundering Act, 2002

4

1

  1.  

Foreign Contribution Regulation Act, 2010

5

2

  1.  

The Arbitration and Conciliation Act, 1996

4

1

  1.  

The Insolvency and Bankruptcy Code, 2016

8

2

 

Study Plan/ ABC Analysis

 

Small and Easy

Fair

Medium

Difficult and Need more practice

Compromises, Arrangements and Amalgamations, National Company Law Tribunal and Appellate Tribunal, etc.

Foreign Contribution Regulation Act, 2010, SEBI Act, 1992, Prevention of Oppression and Mismanagement, Winding Up, etc.

 

Appointment and Qualifications of Directors, Appointment and Remuneration of Managerial Personnel, Meetings of Board and its Powers, etc.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, The Insolvency and Bankruptcy Code, 2016, Inspection, Inquiry, and Investigation, etc.

The Foreign Exchange Management Act, 1999, The Prevention of Money Laundering Act, 2002,  The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957,

2 times Revision only

 

Take 4 to 5 days to Revise

 

3 times Revision

 

Take 5 days and practice, focus more on questions

3 times Revision

 

8 days, solve maximum questions, 80% focus on solving questions only

2 Times Revision

 

Study 4 to 6 adjustments per day, Coverall in 6 to 8 days

 

Take a challenge and complete easy and fair topics in 1 week in any manner

 

Check it also, Download Subject wise CA Inter Practice MCQs with Solution

 

From which chapter to start preparing

Corporate and Economic Laws cover the two sections. One of them is companies law, Securities Laws and the second one is economic Law. Company Law and Securities Laws cover 60 marks while the remaining part covers 40 marks.

Company Law covers a major portion and also scoring. Economic Law covers 40 marks but as much Boring and tough as compared to company’s Law.

Start your preparation from fair category chapters of Companies Act like Appointment and Qualifications of Directors, Appointment and Remuneration of Managerial Personnel, etc.

After that prepare all remaining chapters of companies to act after completing companies Act to start Securities Laws and Economic Law do more stress on The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957andThe Foreign Exchange Management Act, 1999 others

Immediately after reading any section, do MCQs of the same section. That will build a grip over that section and all the related points can be covered. This is the best method to study law and clear concepts. If you are preferring, revising the entire chapter and then do its MCQs, it will not be much effective as far as our experience.

Understand the concepts very well because the law is all about interpretation. The grip on the sections is important basically on the matter. If you can remember the section number then it is well and good but if you are not sure about the section number then don’t write the section number as it will deduct your marks more than what you get after writing it.

Check out the questions of the last 3 attempts of ICAI exam papers, RTPs, MTPs, and of course the latest series of test papers of this attempt. Our papers are prepared after good research from content, speed, and conceptual point of view; you will find new questions in our test papers.

 

More scoring part

Companies act is always scoring section whether it is law or audit. Most marks are scored from this section.

Most Important Topics of companies act:

In final every chapter have equal importance but some chapter need more focus than others

  1. Directors max 20 to 30 marks

Appointment and Qualifications of Directors

Section No.

Topic

149

Constitution of the Board

152

Requirement of the minimum number of Rotational director

Maximum number of NonRotational Directors

Rotational directors are required to be retired by rotation

164

Basic Disqualification

Specific Disqualification

168

Resignation of Director

169

Removal of Directors

161

Additional Director 161(1)

Alternate Director 161(2)

Nominee director 161(3)

Causal vacancy 161(4)

  1. Meetings 30 to 35 marks

Meetings of Board and its Powers

Section No.

Topic

173

Meetings of Board

174

The quorum for Board Meetings

177

Audit committee Section

180

Restrictions on powers of Board

Sale/ lease/ disposals of undertaking [Sec 180(1)(a)]

Investment of merger & amalgamations[Sec 180(1)(b)]

Borrowing above 100% of PSC + Free reserve [sec 180(1)(c)]

Directors debt [sec 180(1)(d)]

185

Loan to directors, etc

186

Restrictions on loan and investment by a company

Restrictions on giving loans

188

Related Party Transactions

 

Appointment and Remuneration of Managerial Personnel

Section No.

Topic

196

Appointment of MD or WTD or Manager

197

Managerial remuneration

202

Compensation to its director for Loss of Office

203

Appointment of Key Managerial Personnel

 

The Insolvency and Bankruptcy Code, 2016

Series No.

Topic

  1.  

Corporate insolvency resolution

  1.  

Priority order of liquidation

  1.  

A person not eligible to be resolution applicants

  1.  

Fast track resolution

  1.  

Eligibility to be resolution professional

  1.  

Amendments

 

Note – Learn section number of all the above topics.

The Most Important Topic of security and economic law is

The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957andThe Foreign Exchange Management Act, 1999, The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002others

Read More:Best study material for theory subjects for CA final

 

Past trending Chapters

 

Topics

Questions in Past exams

 

Section-A: Company Law

 

 

Appointment and Qualifications of Directors

8

12

Appointment and Remuneration of Managerial Personnel

10

8

Meetings of Board and its Powers

8

6

Inspection, Inquiry, and Investigation

6

8

Winding Up

7

8

Section-B: Securities Laws

 

 

The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957

6

4

The Securities Exchange Board of India Act, 1992, and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

6

8

Part-II: Economic Laws

 

 

The Foreign Exchange Management Act, 1999

6

4

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

8

8

The Prevention of Money Laundering Act, 2002

5

12

The Insolvency and Bankruptcy Code, 2016

8

8

 

Most of the questions required the application of small or cornered theoretical part

 

Which questions to attempt first

 

In the first 20 minutes, attempt MCQs and leave those which will consume time that will be tackled in the last 1 hour. After attempting MCQs, quickly come to companies' act questions. Try to answer them patiently and cover all the necessary points. Try to answer all these in the first 1 hour to 1.15 hours.

 

In the next 1 hour, answer the economic law and securities law part. It can be properly covered in 1 hour. After that answer winding up or drafting notice, minutes, etc. In the last 25 to 30 minutes, come to those questions where you feel uncomfortable. Explain their provision and facts of the case part, leave a conclusion if you are not sure. 

 

Remember – The length of the answer doesn’t matter, what matters is the point’s coverage. You need to cover all the necessary points in your solution. 

 

There are 4 parts to answer case study-type questions.

The first, part is write heading – Mention the name of the section and its number if you are sure

Second part – Related Provision, in your first two lines matter a lot. It will judge the quality of your language. Write these two lines very smartly

Third part – Facts of the case and analysis, here you can use your own language

Fourth part – Conclusion with reference and reason are required. Most students end up giving the decision but do not cover the reason behind it. Shortly cover reason in 2-3 lines

 

 

It is and has always been a point of worry for all the ca aspirants to clear the exam with flying colors with such cutting-edge competition. But the fact is proper guidance and efforts made in the right direction can help you the most in clearing your ca final exam.

 

Corporate and Economic law is one of the most important subjects and you cannot go easy on this one as quoting laws in the wrong language will not be a very good thing. Practice a lot with the ca mock test series or icai web test papers available online.

 

Few changes have been made in the syllabus of corporate and economic law

 

While preparing for this subject you need to keep few points in mind. Along with the analyzing skills you need to understand the application of those laws too.

 

  • Prioritize your topics first. Start with the high-priority topics. This way you will not be overwhelmed and will be able to catch up with the subject better.

 

  • The presentation matters the most. Go with the given pattern provided by ICAI in their study material. Scoring better marks will be easier for you. Also, practice with ca final test series now and then.

 

  • Every law has a reason to exist. And for the proper application of those laws, you need to understand each law thoroughly. 

 

  • Once you're doing reading the laws, prepare your own notes with the important provisions and sections relevant to the context.

 

  • Amendments are quite complex and critical. Understand and read them carefully, so that you don't forget anything during the exam. Also, use ca final mock test series to gain more strength on the topic.

 

  • Multiple revisions will be required before attempting the final exam. So practice as much as possible and try reading the laws loudly, it will be beneficial. Refer to ca test series or mock test icai.

 

  • Attempt easy and the questions you're confident about first, then go for the lengthy and mandatory questions. This way you'll have more time to frame your answers properly. 

 

  • Avoid pointwise answers. Stick with the format icai has mentioned in their study material; they expect you to give the point-to-point answers instead of roaming around a single point in different ways.

 

  • First and foremost give the proper and relevant heading, then relevant legal provision with the correct section, name, and year of the act. State the fact given in the problem, brief about the correlation of the legal provision with the facts, and then end the answer with the conclusion. 

 

  • It is not mandatory to write the answer in a bookish language. If you've understood the question properly and know the exact answer, you can write it in your own language; the way you want.

 

  • Keywords can never be replaced. Though you have this privilege of writing the answers in your own language few keywords have a certain reason to exist and you're not allowed to change them like nature, timing, or extent.

 

  • In the ca final level, icai expects you to quote the section number or SA number and name. Though it wasn't mandatory at the Intermediate level for the final, it is. So better give more attention to them.

 

  • Think practically before writing the answers. ICAI, most of the time asks practical questions and expects you to give relevant and practical answers. So take your time, give a brief thought to it and then write your answers. 

 

  • Start focusing on your presentation before it's too late. The first impression is the last, so a neat and clean & presentable answer sheet will raise the hopes and will lift the mood of the examiner. Practice with icai mock test papers ca final to improve your presentation skills.

 

  • Make it a regular exercise to study law. Do not give a lot of time to it but half an hour a day will be good enough to stay in touch with the subject.

 

  • Never leave a chapter completely just because it is a bit difficult for you. Do it from the practice manual, so you don't have to regret it during the exam. Also, you can practice it again and again with the ca exam series or icai test papers.

 

A good book can help you a lot with this nightmarishly lengthy subject. So here are few good book references for you:

 

  • Corporate and other economic laws by TejpalSheth.

 

  • Corporate and other economic laws by Munish Bhandari

 

  • Corporate and economic law by Pankaj Garg.

 

Refer to these books, practice a lot with mock test papers icai and stay focused; that's all you have to do to achieve the desired result. Keep a professional approach towards the question and your answers, analyze and understand the question properly then answer correctly. 

Wishing you all the luck for future Chartered Accountants of the country!

 

Important Questions/Amendments

 

Appointment and Qualifications of Directors, Meetings of Board and its Powers, Appointment and Remuneration of Managerial Personnel, The Insolvency and Bankruptcy Code, 2016 The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957 and The Foreign Exchange Management Act, 1999, The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, etc.  – These are most important from marks point of view, these are really targeted to reach at 60+ level.

Case studies on the above topics will be asked so in that case practice of MCQ becomes quite important in cracking the case study.

Amendments are separately provided

 

Common Mistakes / Tips

 

Practice doesn’t mean you have to just read the questions. You must write down the questions and their answers. Appear for as many Mock Tests as you can. In self-practice also, write one topic, circle it and around that topic, try to write related section and their crux to get a hold on the topic.

Double-check if the question number is written properly. Kindly mention the subpart of the question as well.

No need to write your knowledge about the topic, write to the point and write in short paras of 4-5 lines each. Proper spaces between the paras are necessary.

In conclusion, para, don’t forget to mention reference again.

 

Do not write incomplete answers. Even if you don't know the exact answer, try to make it a complete answer. What I mean here is do not leave the sentence incomplete. This is more of a psychological hack. Incomplete answers catch the attention of the examiner easily. You never know an incorrect but a complete answer may fetch you full marks.

 

For more information, stay updated with us

At last, keep yourself fit and healthy. Take proper sleep, it helps you to finely attempt your paper. Hope you find these tips helpful.

 

Never forgot to Attempt Test Papers before your exams

Motivation:  “Never stop doing your best just because someone doesn’t give you credit.”.

Ok Thanks, Best of luck

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