How to Prepare CS Professional Advanced Company Law

Prepare CS Professional Advanced Company Law

HOW TO Prepare CS Professional Advanced Company Law

How to Prepare CS Professional Advanced Company Law: Subject Overview:

Company law is the crux of a CS student’s life. Whether you want it or not, it is always going to be there. Company law is a very vast subject, right from sections to rules to forms and the list goes on. At the professional level, along with the conceptual understanding, one must also know the important sections. Just mugging up won’t help, a clear understanding of each and every concept is of utmost importance. The logical application of rules and sections is also to be understood. In short, keep yourself calm and start this subject because it is a deep ocean of knowledge and is going to take lots of your time too.

The objective of Advanced Company law paper in CS Professional:

At this level, the examination standards are very high and the aim of the institute to check whether you have understood the idea behind that particular section and rules. They don’t want you to just copy and paste whatever is written in the module or the notes but they want to see how you can manage to answer in your own words (except the definitions).  Institute also requires the students to be conversant with amendments to the law made up to 6 months preceding date of examination. Institute also checks the drafting ability of various resolutions and minutes and other documents.

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How to Prepare CS Professional Advanced Company Law : What is expected from the student?

Students are expected to be well versed with each and every concept and the meaning behind it. They need to pinpoint the legal issue, state the relevant section and provide solutions. Answering in paragraphs is recommended as it makes it easy for the examiner to check. Neat and legible handwriting is a must. Generalized answers should be avoided as it reflects your low preparation of the subject.

Prepare CS Professional Advanced Company Law? Exam Planning Strategy

First and foremost selective reading of the chapters is to be avoided as the question paper contains compulsory questions with coverage on all the chapters. Each and every chapter is important, nothing can be left out. However, you can always sort the chapter as per their relevance and topics contained. For example, the chapters like ‘directors’  and ‘meetings’ has lots of content and provisions hence they can be placed at the top and chapters like ‘winding up’ can be placed last and this way  you can just do thorough reading of the less relevant chapters  but none of the chapters should be avoided. One must also scan through the previous year’s question papers and suggested answers to understand what the institute is expecting from you.

If some concepts are difficult to understand then write them down on a separate sheet of paper and revise them again and again so that it becomes easy for you because practice makes a man/woman perfect.

Also, at the professional level, the institute asks you to draft various documents, hence practising writing of the drafts is very important. If you don’t then you sure shot loose 5-10 marks.

You can even try solving chapter-specific questions when you complete a chapter and then cross check your answer with the logical analysis of the sections.

Also, nothing is going to happen in a day. You have to stay consistent and keep revising. Revise the chapter you did yesterday before starting a new one and this way you will never forget a concept.

 In short, ways to prepare for this subject is definitely going to vary from person to person but these are some basic tips that one should include in his or her study plan.

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How to Prepare CS Professional Advanced Company Law : Bare Act

They are the lifeblood to the law it is always suggested to have the relevant Bare Act while studying the subject. However, they should not be used as the only study material because they are too vast and lengthy and that is why one should use it only for reference.

How to Prepare CS Professional Advanced Company Law : Sections and Case laws:

They are the basis on which institute decides how much marks should be given. The student who mentions sections and case laws may get an additional 1 or 2 mark as compared to the student who doesn’t. However, if you are confused between the sections then desist from citing the wrong section number and irrelevant case laws. This will create a negative impression on the examiner.

How to Prepare CS Professional Advanced Company Law : Language and Presentation:

This is one of the most important areas of concern for the students. A common feedback from the examiners was that students are generally weak in English Language but they are through with the subject. As a result, the presentation of answers does not give the brand image as of a student at the CS Professional level. This problem can be overcome by writing practice and self-examination. You may also get your answers checked by your teacher or from whom you buy lectures or notes.

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How to Prepare CS Professional Advanced Company Law : Solving Questions:

  • Practical-

The question paper consists of 70 to 95% of application-based questions. Students should know how to solve them because this is where students can score good marks. The answer may be presented in the following manner-

  • Relevant legal provision (with correct section number)
  • Facts are given in the problem
  • Correlation of the legal provision with the facts
  • Conclusion

Never ever give a direct answer of YES or NO at the start. Let the examiner go through your answer and then decide. If you write YES or NO at the beginning, the examiner would not take efforts to read further.

  • Theoretical-

The answer should be laid down in bullets with the brief description given in small paragraphs for making the answer more appealing and legible.

How to Prepare CS Professional Advanced Company Law : Chapter-specific guidance:

Lesson 1 – Company Formation and conversion

After this lesson, you will be well-acquainted with practical and procedural aspects of company formation and conversion which includes pre-registration requirements, name approval, submission of various documents etc. . You will also be able to understand the procedural aspects relating to commencement of business and ratification of pre-incorporation contracts.

Lesson 2 – Procedure for Alteration of Memorandum and Articles

After reading this lesson, you will be able to understand the procedural aspects relating to alteration in the clauses of Memorandum and Articles of Association of the company.

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Lesson 3 – Issue and Allotment of Securities

After going through this lesson, students will able understand aspects for issue of securities including private placement, bonus issue etc and also aspects relating to allotment, issue of share certificates etc. The details relating to public offer can be referred in the chapter “Secretarial Audit, Due Diligence and Compliance Management”.

Lesson 4 – Alteration of Share Capital

After going through this lesson, you will be able to understand practical and procedural aspects relating to alteration of its share capital and related compliances.

Lesson 5 – Issue and Redemption of Debentures and Bonds

After reading this lesson, you will be able to understand the procedural aspects of debt securities including convertible and non-convertible instruments.

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Lesson 6 – Acceptance of Deposits by Companies

After going through this lesson, you will be able to understand procedural and practical aspects relating to acceptance of deposits by companies and certain other related matters.

Lesson 7 – Membership and Transfer/Transmission of Shares

This chapter will enable you to learn about the modes of becoming member, procedure for variation of members’ rights, transfer of shares etc.

Lesson 8 – Key Managerial Person

This lesson deals with the procedural aspects for appointment, removal, remuneration etc. of directors and managerial personnel.

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Lesson 9 – Company Secretary

This lesson will make you understand about the role and functions of Company Secretary in employment as well as in practice, requirements related to their appointment, removal etc.

Lesson 10 – Meetings

This lesson will help you understand the way the meetings are held, procedural aspects relating to meetings, drafting of resolutions and minutes etc.

Lesson 11 – Auditors

After going through this lesson, you will be able to understand procedural and practical aspects relating to auditors of the company.

Lesson 12 – Preparation and Presentation of Reports

This lesson deals with the procedure for preparing and placing the annual reports at the shareholder’s meeting.

Lesson 13 – Distribution of Profits

After going through this lesson, you will be able to understand procedural and practical aspects relating to declaration and payment of dividend as well as transfer of unpaid and unclaimed dividend to Investor Education and Protection Fund.

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Lesson 14 – Charges

After reading this lesson, you should be able to understand procedural aspects relating to creation, registration, modification and satisfaction of charges by the companies under Companies Act, 2013.

Lesson 15 – Inter-corporate loans, investments, guarantees and security

This lesson will help you understand the procedures relating to inter-corporate loans, investments, guarantees and security.

Lesson 16 – E-filing

This chapter covers all the important aspects relating to filling and filing the e-forms. You may refer to mca.gov.in for the format of various e-forms.

Lesson 17 – Striking off name of Companies

After reading this chapter you will be able to understand the procedural aspects to striking off names of the companies and the procedure to obtain the status of dormant company and the status of active company.

Lesson 18 – Recent trends and Developments in Company Law

This lesson covers salient features of company law emerged/emerging in the countries UK, USA etc.

Lesson 19 – Trusts and Non-Profit Organisation

This lesson gives you an insight into the provisions relating to Trusts and Non-Profit Organisations.

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How to Prepare CS Professional Advanced Company Law : How to Plan for examination:

At this level, planning is the only key to success. One should plan his studies properly otherwise there will be chaos and the result would surely not be in your favour. Planning may vary from person to person but you should keep in mind that you keep ample time for revision of the subjects too.

Since this subject requires expert knowledge, you should be prepared and conversant application of law in practical situation. Abstract reading of the law in the form of theory will not help in complete understanding of the subject. You should also give importance to terms/definition for proper conceptualization of the answers. Plan and act accordingly.

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How to Prepare CS Professional Advanced Company Law : Important Tips:

  • Before the final exam, one should at least solve one test paper so as to know how much prepared are you and whether you are able to finish within the time limit of 3 hours.
  • Revision is a must. Keep revising the subject at proper intervals.
  • Don’t let your doubts build up. Get your doubts cleared as soon as possible.
  • Writing practice is a must.
  • If you start studying earlier, then you may make your own notes too.
  • Lastly and most importantly Company law is the core in a Company Secretary’s life. Study this subject as nicely as you can because once you become a CS you can’t open your books again and again to answer the Board of Directors.
  • And one more thing, never ever give up. It is going to take lots of pain to study so much, but when this pain becomes a gain in the future, the happiness of that gain is beyond this universe.

YOU CAN AND YOU WILL DO IT!

Check out our article for CS Professional Students : 

1. How to Prepare CS Professional Advanced Company Law

2. How to Prepare CS Professional Corporate Restructuring | CRVI

3. How To Prepare CS Professional Secretarial Audit

4. How to Prepare CS Professional Information Technology And System Audit

5. How To Prepare CS Professional Financial Treasury And Forex Management

6. How to Prepare CS Professional Ethics | EGAS

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8. How to Prepare CS Professional Advance Tax Laws

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