Logical reasoning -Number series – CSEET

1. At this series: 12, 11, 13, 12, 14, 13, … What number should come next? A. 10 B. 16 C. 13 D. 15 Answer: Option D.  Explanation : This is an alternating number of subtraction series. First, 1 is subtracted, then 2 is added. 2. At this series: 36, 34, 30, 28, 24, ……

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Current Affairs May 2020 – CSEET

1. The task force on National Infrastructure Pipeline (NIP), projects total infrastructure investment of Rs 111 lakh crore during a 5-year span of FY 2019-20 to FY 2024-25. Name the person who heads the task force. 1) C Rangarajan 2) Sakthikantha Das 3) Atanu Chakraborty 4) Ajay Kumar 5) Subash Chandra Answer – 3) Atanu…

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Bcom or BBA after plus two?

Deciding which course to pursue is in itself a tough task for students and parents. Most of the situation it is influenced by custom, like, what other relatives did or friends did etc. Even if the student is decided to go for commerce stream, the real confusion comes when the question of selecting Bcom or…

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All about BSc course

After plus two most of the students and parents find it difficult to select which course they have to take for their graduation. Science, commerce or arts, the choice is difficult, but bright students  automatically select BSc. It doesn’t mean , others are not bright, it means it has become  a convention. Let us try to understand…

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Indian Economy MCQs Part 2 – CSEET

1. First five-year plan in India was from (A) 1947 – 1952 (B) 1949 – 1954 (C) 1950 – 1955 (D) 1951 – 1956  Ans .  D 2. First five-year plan was based on? (A) Harrod -Domar Model (B) P.C. Mahalanobis Model (C) Both of above (D) None of above  Ans .  A 3. Consider…

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Indian Economy MCQs – CSEET

1. What option does the central government does not include in development expenditure? A) Grant to States B) Expenditure on Social and Community Services C) Expenditure on Economic Services D) Defence Expenditure Answer: D 2. Approx. __ % of Indian population is still Agriculturist. (A) 46% (B) 50% (C) 58% (D) 64% Ans .  C…

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Company Law MCQs Part 4 – CSEET

1. Advantage of incorporated company is (a) Corporate disclosures (b) Common seal (c) Capacity to sue (d) Windier up procedure Answer: C 2. Find the odd one out:- (a) Private Company (b) Public Company (c) Consumer Company (d) Producer Company Answer: C 3. Joint shareholders are counted as (a) Two (b) No limit (c) 50…

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Company Law MCQs Part 3 – CSEET

1. What are the limits of number of members in a Private Company? (a) Fifty (b) Seven (c) Twenty (d) Two hundred Answer: D 2. If XYZ is the holding company of P&R Ltd. then, which of the following statement is not true in this regard. (a) XYZ Ltd. controls the composition of Board of…

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Company Law MCQs Part 2 – CSEET

1. How many members should sign the MOA in case of public company? (a) 1     (b) 5    (c) 3     (d) 7 Answer: D 2. —————-conceives the idea of the business. (a) Promoters (b) Auditors (c) Directors (d) Shareholders Answer: A 3. Shares of company are freely transferable. (a) Private company (b) Public company (c) Both (a) & (b)…

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Company Law MCQs Part 1 – CSEET

1. Which of the following statements is not true? (a) A company is an artificial person created by law. (b) A company can do every act like a natural person except the acts which are purely of personal nature. (c) A company can be held liable for violation of the statutory provisions of the Companies…

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Law of Torts – MCQs

1. ……….. are words, which appear innocent, but have a latent defamatory meaning (a) Libel                (b) Slander (c) Innuendo        (d) None of the above Ans. (c) 2. Unliquidated damages mean (a) Damage to something solid. (b) Damage caused by a firm which has gone in liquidation (c) Damage to a firm in the hands of receivers. (d) Damage to…

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Indian Financial System – MCQs

1. Indian financial system comprises of both ———————-and ———————-sector. Ans. organized and Unorganized sector. 2. SEBI was given legal status in the year————-set up in1988 Ans . 1992 3. Non-banking assets and Non-performing assets are synonymous term. (True or False) 4. The Indian money market does not deal in cash or money but in promissory notes,…

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Union Budget – MCQ

What is budget?  Budget is the annual financial statement of the estimated receipts and expenditure of the government for the particular year. It is legal document because legislature passed it and the President approved it. The prime motive of Government financial management is to determine how adequately the financial and resource management responsibilities have been…

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National Income Accounting and related concepts -MCQs

Q 1. Output means . ……………unless stated otherwise (a) Gross output at MP (b) Net output at MP (c) Gross output at FC (d) None Ans: A Q.2 Which of the following is not a component of domestic income ? (a) Operating surplus (b) Compensation of employees (c) Net factor income from abroad (d) Mixed…

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Economics – Supply and Demand MCQ

1 1. Normally a demand curve will have the shape: A Horizontal B Vertical C Downward sloping D Upward sloping Answer: Downward sloping 2. Which one is the assumption of law of demand? A Price of the commodity should not change B Quantity demanded should not change C Prices of substitutes should not change D Demand curve must be linear Answer: Prices of substitutes should…

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Indian Contract Act, 1872 – MCQs

1.An agreement consists of reciprocal promises between at least  (a) four parties.  (b) six parties.  (c) three parties.  (d) two parties. Answer – d 2.  Every promise and every set of promise forming the consideration for each other is a/an  (a) contract.  (b) agreement.  (c) offer.  (d) acceptance. Answer – b 3. Contract is defined as an agreement enforceable by law, vide Section … of…

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Constitution of India – Multiple Choice Questions

Constitution is the Fundamental Law of any country which sets out the framework and the principal functions of various organs of the government. At present, the Constitution of India contains 448 Articles in 25 Parts and 12 Schedules. However, there are multiple features of the Constitution, namely Secular State, Federalism, Parliamentary Government, Fundamental Rights and…

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Important Articles of Indian Constitution.

Some facts about Indian Constitution The Constitution Was Originally Written in Hindi and English With 25 parts containing 448 articles and 12 schedules, It is the longest constitution in the world and the constitution was not typed or printed, it was handwritten by Prem Behari Narain Raizada. Each page was decorated by artists from Shantiniketan.…

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CSEET syllabus – Paper -1- Business Communication

What is Business Communication?  Business communication is the process of sharing information between people within and outside a company.  For a company secretary, proper communication is very important as he is the person who communicate with various departments within the organisation, outside the organisation and general public. Effective business communication is how employees and management interact to…

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Crack Company Secretary course in first attempt!

Company Secretary course is one of the prestigious, as well as a value-added, professional course in corporate and compliance management for students from any stream. A company Secretary takes care of legal and statutory compliance for all types of companies including private, public and government companies. Company Secretary is the connecting link between corporations and…

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Scope for Company Secretary profession

Whenever we talk about the profession Company Secretary, people start asking what are the opportunities? The reality is that people want opportunities in money terms or position terms but on responsibility or utility terms. If you just look on money, there may be better things  a person can do than becoming Company Secretary, but that may…

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Independent director as per Companies Act

Independent director is a director who does not have any pecuniary or material relationship with the company other than the receipt of sitting fees. They act as a guide to the company. Independent directors are not part of the companies executive team and not involved in the day to day conduct of company operations. The…

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CA or CS – Explained

Both Company Secretary and Chartered Accountants are two very important professionals needed in the corporate world. Chartered Accountant is an expert in accounting in finance , while the Company Secretary is an expert in company law and corporate legal compliances.  In real life world, these two qualifications have considered similar in between but most people…

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Auditors – disqualifications

Section 139 to 147 and respective rules under Companies (Audit and Auditors ) Rules 2014 have elaborate provisions for the appointment of auditors and related details.  Here we discuss about the disqualifications of Auditor. Disqualification of Auditors Sub section (3) of Section 141 lays down the criteria which disqualifies a person from acting as an auditor…

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Multidisciplinary firms and CS

Company secretary is considered as champion of Corporate laws and have an enviable position in the corporate management. He is a person who is looked on all compliance issues and times need to work closely with other professionals also. Company Secretaries Act 1980 have a limiting provision in the first schedule, part I. As per…

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Arbitration and conciliation Act 2019-latest updations

Arbitration comprises of a panel of Arbitrators which can be selected by the parties and such process is a very common gesture to analyse and consummate a dispute through understanding the disparity between any contractual obligations or indenture. Notwithstanding, such freedom of process imparted to the parties, Arbitration is said to be “Sitting Advocacy”. For brevity…

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Now Insolvency Resolution Professionals also mandatorily need MCA 21 filings

The Ministry of Corporate Affairs (MCA) issued a Circular on February 17, 2020, mandating the Insolvency professionals who are also called Interim Resolution Professional (IRP) or Resolution Professionals (RP) or Liquidators, appointed under Insolvency Bankruptcy Code 2016 to fill the forms in the Registry (MCA-21).This is in continuation to the representations received by the ministry from…

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CSEET – CS Executive Entrance test. FAQs

DIRECTORATE OF STUDENT SERVICES FREQUENTLY ASKED QUESTIONS (FAQS) (REVISED AS ON 03rd FEBRUARY 2020) PART 1 : (A) FAQ ON THE NEW REGULATIONS INCLUDING CSEET(CS EXECUTIVE ENTRANCE TEST) Q.1 Will the new admissions to Foundation Programme be discontinued after introduction of new regulations / CS Executive Entrance Test (CSEET)?  Ans: Yes. New admissions to Foundation Programme…

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Company Secretary course new changes

MAJOR CHANGES IN THE PROCESSES/ GUIDELINES PERTAINING TO STUDENT REGISTRATION, EXAMINATION ENROLLMENT, ETC. PURSUANT TO ISSUE OF COMPANY SECRETARIES (AMENDMENT) REGULATIONS, 2020 The Gazette Notification on the Company Secretaries (Amendment) Regulations, 2020 has been published on 3rdFebruary, 2020 in the Official Gazette of India and the same shall be applicable from the said date of…

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GST – Place of supply of goods and services

GST is one of the important enactment in the free India, which intends to change the entire indirect taxation regime, both taxation and filing aspects. This was a result of lengthy discussion and deliberations. Determination of place of supply of goods or services is very important in GST as the system involves many states and…

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Form AOC 4 and MGT 7 – filing and penalty

Transparency and self-compliance are the pillars of success of a company in long run. Financials of a company is not an internal cause of concern, it is also very much important for the public to assess the company and its strength. It helps the company to get easy finance for long term growth which will…

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Section 8 Company under Companies Act 2013- Check list for incorporation

It is true that one of the purposes of creating a company to do commerce and make profit. But not all the companies have the objective of making profit by doing business they primarily have charitable and nonprofit objectives. Such companies are called Section 8 companies under Indian Companies Act 2013. The act has three…

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Company law- disclosure of interest under Sec 184

A company under the companies Act is a legal and juristic person, separate from its members.  A company has independent corporate existence, limited liability, perpetual succession, common seal, capable of holding separate property in its own name, has transferable shares and capacity to sue and be sued. As the directors are the persons who manages…

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BREXIT and India

BREXIT – Britain Exit from the European Union. At first we need to understand what is European Union and the purpose of European Union. European Union is a political and economic union of 28 member states that are located in Europe. According to European Union website the union’s purpose is to promote peace, establish a…

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Study and music

How to win your life? You need to have two main things knowledge and goal. There may be many subsidiary things which can help you to achieve your success but knowledge and goal are the main components.  Knowledge comes form study and experience.  Study gives us foundation for knowledge and experience gives us the practical…

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Dormant company under Companies Act 2013

When a company is formed for a future project or hold an asset or intellectual property and has no any significant accounting transactions or an inactive company will be called as dormant company. If a company want to convert it as a dormant company, such company need to make an application through MCA website in…

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How to choose a course for your life?

When students pass out of 12th or graduation, relatives, friends, well-wishers etc. will be pouring in advices.  Some of them will ask you to go for medicine and some for engineering and some of the people come up and say it is always better to go for Chartered Accountancy for Company Secretary.  Believe it, they are…

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Corporate Governance – Basics

What is corporate governance? Corporate governance in simple terms means the system by which companies are directed and managed. This actually influences how the objectives of the company are set and organized and results are achieved, how risk is assessed and monitored thus increased the performances. A company that has good corporate governance has a…

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Company secretary course -Exam worries

All ask whether Company Secretary course is tough? My answer is a big yes!!! Or you tell me which course is not tough…?? The main problem what has been faced by most of the students are the self-belief they should.  There is no point in talking without confidence and having a thought in  mind that the course…

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Tips for CS exam preparation

Every student face, for that case for any course, have the problem of memory. Most of the students comes up and tell, they forget things very easily. In this article we will try to analyse common memory problem and its solution. In every class every teacher tell the student that revision is the core of…

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Auditor under companies Act- Appointment and removal

To understand it clearly, an auditor is an independent professional qualified to perform audit of the organisation as per the provisions of Companies Act. Sections 138 till 148 of Companies Act deal with provisions regarding audit, auditors and accounts. Companies Act 2013 have detailed provisions for appointment, regulation. Removal and reappointment of auditors. Auditors constitute…

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Deposit guarantee insurance – Indian Scenario

  A farmer went to the bank for a loan. He met the manager and requested for the loan. Manager asked him” why you want a loan?” for my child’s higher education” answered the farmer.  Manager given him a list of documents and securities he needs to furnish to his bank’s satisfaction for the loan.…

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Incorporation of a company-Procedures as per Companies Act 2013

Incorporation of a company looks simple when we say and tough and complicated when we do it. I am sure no practical experience can replace with a written article. The intention of this article to put light on to the regulatory aspects with regard to incorporation of private or public companies. Incorporation of a company…

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PMC Bank Crisis -future of cooperative banks

Madhavpura Mercantile Cooperative Bank was a bank having good business with 50000 depositors in 1999-2000 based out of Gujarat. When the bank was doing well, the bank started lending huge sums to stock brokers which was not as per the guidelines issued by the RBI guidelines. The assets have become substandard but the real problem…

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GST Composition Scheme

Composition Scheme is an easy and simple under the new GST regime. If small taxpayers are asked to follow all stringent guidelines , it will be very difficult for them to follow. By understanding the situation, the GST Council has made the provision for Composition scheme for small tax payers. Composition scheme provides that the…

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Input Tax Credit (ITC) under GST-Basic rules

Goods and Services Tax (GST) is considered the most modern and largest tax reforms in India. Under GST input tax credit is the most discussed topic. Input Tax Credit The system of getting back tax paid on the purchases while doing sales. To be clear, we need to collect and pay GST on sales but…

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Career option as Company secretary

What should I do after by Graduation? Or how can I plan my career after my 12th? Simple question every student ask any career counsellor. This question looks very easy to answer, as if we need to recommend what we like. But that is not career counselling, it is only marketing. In career counselling we…

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CS challenges and future

CS ,is it a great course? Yes, but need to grow to the potential. when ever we interact with students or prospective students of the profession of company secretaries we we face questions or doubts, Whetherthe profession is equally placed with other professions like CA etc. This is not a simple question, it is a…

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Unique Document Identification Number (UDIN) – a new attempt by ICSI to increase the quality of the profession of CS

  The Institute of Company Secretaries of India (ICSI) has initiated  a Unique Document Identification Number (UDIN) system in an attempted to have an increased sense of self-governance and strengthen the future practising side of company secretaries. at present the Practicing Company Secretaries are keeping registers with details of the attestation and and certifications they…

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Interpretations of statutes -CS Executive

The term interpretation means “To give meaning to”. Governmental power has been divided into three wings namely the legislature, the executive and the judiciary. Interpretation of statues to render justice is the  primary   function   of  the  judiciary.   It  is   the   duty  of   the   Court  to interpret the Act and give meaning to each word of the Statute. The  most   common   rule  of   interpretation  …

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Income from House property- points to be noted.

  Income from House property has become so common in the changed employment and earning environment as most of the people started buying their second home in the urban area. Income Tax Act 1961 have elaborate provisions regarding the taxability and exemption and exceptions available to such income. In this article we are trying to…

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Computation of salary income- points to be noted

Part 1 1. Basic Salary This is a fixed component in your paycheck and forms the basis of other portions of your salary, hence the name. For instance, HRA is defined as a percentage (as per the company’s discretion) of this basic salary. Your PF is deducted at 12% of your basic salary. It is…

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Professional Tax – Meaning, Rates & Compliance’s

    Many salaried employees might be very well aware of the term ‘professional tax’ as it would have been mentioned in the payslips/Form 16 issued to them. But all of them may or may not understand what it is and why is it appearing in their payslips/Form 16 as a deduction from their salary…

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ESTABLISHMENT OF BRANCH/LIAISON/PROJECT OFFICE OR ANY PLACE OF BUSINESS IN INDIA BY FOREIGN ENTITIES

  Post liberalisation, India is growing as a big market for businesses across the globe. As the growth pace has increased, enthusiasm from foreign entities to have business operations in India also grown. India have a unique advantage of largest young human resource in the word with one of the fastest growing market. There are…

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Income Tax Rates for Assessment Year 2020-21 / Financial Year 2019-20

  Tax rates are not same for all type of assesses under Income Tax Act 1961. It is different for different categories of taxpayers and for different source of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab rates. However, companies are taxed at fixed rate, except for certain specified incomes. This article will provide…

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Case laws -landmark judgements on Constitution of India

Judicial review is the power of the Supreme Court to examine the constitutionality of legislative enactments and executive orders of both the Central and State Governments. On examination, if they are found to be violative of the constitution, they can be declared as illegal, unconstitutional and invalid (null and void) by the Supreme Court. Consequently,…

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Writ jurisdiction – High Court and Supreme Court

A writ is a directive issued by the Supreme Court and High Courts in india to carry out their directives for the enforcement of the fundamental rights and or legal right of the affected person.The Supreme Court can issue writs under Article 32 of the Constitution while  the High courts can issue writs under Article…

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Professional communication – Mind it this is your winning point

Let you be a businessman or professional, an icon or to be an icon, you always want to grow. Communication is the biggest asset one can have to grow professionally. So write professionally, behave professionally and speak professionally. Professionals say that, it is not important what are you saying, but it is very important how…

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Corporate Governance -present

Corporate Governance is a wholesome mix of measures that are necessary for creating a corporate culture of accountability and transparency. The term refers to a combination of transparency related practices, laws, rules, regulations, procedures and voluntary initiatives on the part of the companies to maximise the shareholders’ long term value and maintain accountability to different…

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SEBI fine NSE in Co-location case and bars from accessing securities market.

One of the rare of the rarest cases, Securities Exchange Board of India fined National Stock Exchange, the largest stock exchange in India, with Rs. 1100 crores and also barring the bourse from accessing securities market for 6 months. It was in 2010, National Stock Exchange (NSE) had started a facility to allow its brokers…

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Real Estate Investment Trust IPO

  A real estate investment trust is a company that owns and in most cases operates, income producing real estate. Real Estate Investment trust own many types of commercial real estate ranging from office and apartment buildings to warehouses, hospitals etc. Backdrop In 2014 , India approved the creation of real estate investment trusts in…

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Reliance Retail E-Commerce – may change the market dynamics in 2019.

Market cries foul on e-commerce companies saying that they are killing offline retail shops. But the data shows a different picture.The gap between offline retail sales and online retail sales is widening and still more than 83% of the total retails sales market is controlled by offline stores and most interesting fact is that the…

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Amazon – changing business dynamics, to offer broadband with own satellites.

1994 marked the launching of Amazon, promoted by Jeff Bezos, which today is one of the largest e-commerce giant and a cloud computing giant. Amazon never started as is now, it is the result of continuous  development and fine tuning. The first intention of Amazon was to sell books through its websites. The first business…

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Career and Social media

  When we look on jobs and career we were more focused on skills, knowledge, CV, language etc. to impress HR executives and then they will do some background checks with people we have given them as references or maximum previous employer, that’s all. The time has changed, even before they call you for an…

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Incorporation of Company

Incorporation of Private Company – Basic information and steps. Disclaimer: This is an article of academic purpose only and not for practical application. Check all relevant updates with expert opinion before taking any steps. Incorporation of a company is like giving birth to a child. It involves many painful steps with lots of care to…

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Termination of auditor – Zen Shaving and Mukesh Choksi

National Company Law Tribunal paves the way for termination of Zen Shaving auditor on January 6, 2016 and on February 08 NCLT disqualified him for 5 years. The story was one of its kind in recent times. In most of the times auditors help the corporate to do all mischief and escape unhurt. One of…

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Shell companies and its directors – new guidelines

All heard about shell companies and binami investments. What really a shell company? A shell company is a company or corporation that only exists in paper and has no office and no employees, but they may have bank account or may hold passive investment or be the registered owner of assets. Now it is clear…

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Indian Auditing firms are not able to become big – a study.

Source: big4accoutningfirms.org When we start a business first the tension who will be the accountant. When a new business is started, first and foremost problem is to select and engage an accountant. The things what we consider when we start, interview, select and engage an accountant are their Experience. Expertise. Geographical presence. Domain experience. Market…

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SEBI (Prohibition of Insider Trading)(Amendment) Regulations, 2018

SEBI came out with an amendment which was not long due for SEBI ( Prohibition of Insider Trading) Regulations 2015, for improving the regulations and for a fair market conduct. The amendment came out with some explanation to words, defences for insider trading and procedures to be followed. Clarity has been given for the word…

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The Banning of Unregulated Deposits Ordinance, 2019 – for investor protection.

Day by day news are coming out about the vanishing of chit funds, ponzi or pyramid scheme companies, un authorised co-operated societies etc with crores of public money. Government of India came out with an ordinance to prohibit illicit deposit schemes that cheats innocent investors from institutions which run unregulated deposit schemes. This ordinance was…

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NSEL SCAM-Story of greed, forgery and cheating!

SEBI declares commodity business arms of Motillal Oswal, IIFL not fit and proper, more may follow….   Jignesh Shah and Financial Technologies were really big names in the financial markets, and believed that ethics follows, but proved otherwise. National Spot Exchange Limited, was a company owned 99.99% by Financial Technologies, incorporated under Companies Act and…

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Coudtail, Appario model business by Ecommerce companies, threat evaded.

The law is made, but they found perfect way to surpass   February 1st has been given as  deadline for e-commerce companies to stop selling products from their group companies. In compliance with the circular these related companies suspended their operations, the market felt the days of big discounts or big deep discounts are over…

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Ayurveda, Siddha and Unani medicines no advertisements can be given! A Welcome move?

Ayurveda Unani and Siddha (AUS)companies had a free ground on advertisements till now. Hair grow, power booster, Himalayan rare herbs etc. etc. were making the rounds and majority of the customers lured into that. December 21 and 24, 2018 rang danger siren to the ears of AUS companies, as the AYUSH department has notified the…

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New E-commerce policy- challenges to E-commerce companies – Amazon, Flipkart etc.

26thDecember 2018, opened with great challenges to E-commerce companies, who also sell products through subsidiaries on its platform. The change is big, e-commerce entities can now only engage in business to business (B2B) and not in business to customer (B2C). In the initial stages most of the e-commerce companies started its business by providing a…

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Law graduation and Company Secretary

Biggest question in every body life is ” I donot have time for it?” life is always busy for a just born to a person on death-bed. The only difference  for the winner is how you are able to find time to do better things. Company secretary is a person who is an expert in…

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Company Secretaries training- Company or firm

Company Secretary is one of the most promising career option for the right student. Majority view this course as one of the toughest in the group with a pass percentage in one digit. The Institute have decided and implemented a strategy where quality has given priority not the quantity. Every paper is designed to see…

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Attempts needed to clear Company Secretary examination

  Company Secretary course is one of the toughest to crack in the market and if any did that in first attempt, they need your applause. When we look on to the success percentage of the course, it is comparatively less, even in single digits. But when we look on the opportunities available and the…

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Practical Training and Company Secretary course

Company Secretary course is one of the premier professional qualification one can obtain if looking for a bright career in corporate Management. Company secretary course is offered by The Institute of Company secretaries of India, an institution set up by Government of India, by an act of Parliament. This is a part-time course, and there…

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Employed persons and Higher education

Education is a never-ending process and there is no time limit or age limit prescribed for that. Most of the cases people feel that the study or education process should end at the moment we enter into employment or business life. Not so, there are many example and experiences available, with which we can see that…

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