Many of you asking for the two MCQ of Case Study No. 25.

In that case study, Related party would not be considered for counting and for unrelated 20 parties there is section 25 A and According to this section when many FC appoint one Authorised representative then the vote of 51% would prevail
So in this 11 in favour and 9 against so all to be considered in favour

Also , in MCQ 3 people abstrain from voting has been considered by ICAI however,
Law is not clear in this under IBC and ICAI have taken many time different assumption too
so we have to give note in this type of questions

Here is the written solution of those MCQs.

Section 25A is not given in the new study material issued by ICAI
Do take out the printout of it before going for the Exam.

CamScanner 06-18-2021 19.47.24.pdf

Many of you want to know about the rules and Regulations of chapters required to be covered or not ,this is for the exclusion of rules and regulation for May 21 exams
issued by ICAI in May 21 RTP.

I am sharing '5_6230902548878852763' with you

Section 25A for printout purpose.

I am sharing '65187exam52495' with you

opt out facility by Institute

Admit card already issued at 10.30 am

Section 10A of IBC is also missing from the study material however, its reference has been given on the first page of chapter but full section is not there in the book.
Do takeout the printout of this before exam.

I am sharing 'section 7 IBC 2016 amended' with you

Section 7 (amended)not given in study material of ICAI
Points related to home buyers etc are missing
Do takeout the printout of this before going for exam.

New optout scheme by ICAI after SC judgement

Section 50 in The Prevention of Money-Laundering Act, 2002

Powers of authorities regarding summons, production of documents and to give evidence, etc.—

(1) The Director shall, for the purposes of section 13, have the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 (5 of 1908) while trying a suit in respect of the following matters, namely:—

(a) discovery and inspection;

(b) enforcing the attendance of any person, including any officer of a banking company or a financial institution or a company, and examining him on oath;

(c) compelling the production of records;

(d) receiving evidence on affidavits;

(e) issuing commissions for examination of witnesses and documents; and

(f) any other matter which may be prescribed.

(2) The Director, Additional Director, Joint Director, Deputy Director or Assistant Director shall have power to summon any person whose attendance he considers necessary whether to give evidence or to produce any records during the course of any investigation or proceeding under this Act.

(3) All the persons so summoned shall be bound to attend in person or through authorised agents, as such officer may direct, and shall be bound to state the truth upon any subject respecting which they are examined or make statements, and produce such documents as may be required.

(4) Every proceeding under sub-sections (2) and (3) shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code, 1860 (45 of 1860).

(5) Subject to any rules made in this behalf by the Central Government, any officer referred to in sub-section (2) may impound and retain in his custody for such period, as he thinks fit, any records produced before him in any proceedings under this Act: Provided that an Assistant Director or a Deputy Director shall not—

(a) impound any records without recording his reasons for so doing; or

(b) retain in his custody any such records for a period exceeding three months, without obtaining the previous approval of the Director.

Section 50 of PMLA,02 not given in the study material
Do takeout the printout of it before exam.

All the best to everyone having exam tomorrow. Believe in yourself and in your hardwork. Give your best and then leave everything to Almighty. You gonna rock for sure.👍🎓

case studies covered in these video.