Everything You Need To Know About CA Intermediate Law Exam In 2021

In ICAI’s words, “Laws and rules regulate the relationship between business and profession.” A Chartered Accountant has to work in the professional business world, hence, it is an important requisite for Chartered Accountancy students to have the knowledge of the Laws and Regulations applicable in the business world.

The aim of the subject ‘Corporate and Other Laws’ is to make the students aware of the laws and regulations and equip them with the required knowledge which will help them address the issues in moderately complex scenarios.

For a student, starting their CA Intermediate journey, Law can be a very interesting subject or a primarily difficult subject. It depends on the interest of the students and the approach they apply to study law. But in either case, students have to know about the subject in hand very well.

The subject Law at CA Intermediate Level contains Company Law, The Indian Contract Act, The Negotiable Instruments Act, The General Clauses Act, and Interpretation of statutes.

In this blog, we will talk about the subject Law, the syllabus, sources from which you can study, how to prepare for the exam and a lot more.

CA Intermediate

The Chartered Accountancy course is divided into three levels and a three-year practical training called Articleship. The three levels of the Chartered Accountancy course includes CA Foundation, CA Intermediate, and CA Final. 

Students have to do a compulsory three-year training after clearing their CA Intermediate papers, called Articleship, to be eligible to appear for the CA Final examination. 

After clearing the CA Final exam, students get to become a member of the Institute of Chartered Accountants of India, and add the title Chartered Accountant (CA) to their name.

The Intermediate level of Chartered Accountancy course includes two groups, Group I and Group II. Each group consists of four papers. Students need to clear all the papers in order to proceed further in the Chartered Accountancy course.

Group I

The Group I of the CA Intermediate course contains four papers. These papers are -

Paper 1: Accounting

Paper 2: Corporate and Other Laws

Paper 3: Cost and Management Accounting, and

Paper 4: Taxation

Each paper consists of 100 marks. A student needs to score a minimum of 40 marks to clear the paper and a minimum of 50% of the total or 200 marks in order to clear each group. Students who score 60 marks or more score exemption.

Group II

The second group of Chartered Accountancy Intermediate level also consists of four papers. Like group I, all the papers of group II also consist of 100 marks. A score of 40 marks is required to clear the paper. Following are the subjects of group II -

Paper 5: Advanced Accounting

Paper 6: Auditing and Assurance

Paper 7: Enterprise Information Technology and Strategic Management

Paper 8: Financial Management and Economics for Finance

In this blog, we are going to talk about the Paper 2 of Group I of CA Intermediate - Corporate and Other Laws.

Paper 2 - Corporate and Other Laws

The objective of Corporate and Other Laws paper at the CA Intermediate Level is to develop an understanding of the provisions of company law and acquire the ability to address application oriented issues through the Part one of the paper - Company Law.

The second part of the Paper 2 - Corporate and Other Laws contains The Indian Contract Act, The Negotiable Instruments Act, The General Clauses Act, and the Interpretation of statutes. The main object of the second part is to develop an understanding of the select legislations and acquire the ability to address application oriented issues and to develop an understanding of the rules for the interpretation of statutes.

Contents of Part I of Paper 2

The first part of Paper 2: Corporate and Other Laws is the Companies Act, 2013. The students only have to study Sections 1 to Sections 148 of the Companies Act, 2013. This includes the following -

1. Preliminary
   
2. Incorporation of Company and Matters Incidental thereto
   
3. Prospectus and Allotment of Securities
   
4. Share Capital and Debentures
   
5. Acceptance of Deposits by companies
   
6. Registration of Charges
   
7. Management and Administration
   
8. Declaration and Payment of Dividend
   
9. Accounts of Companies
   
10. Audit and Auditors

Contents of Part II of Paper 2

The second part of the Paper 2 Corporate and Other Laws include the following -

1. The Indian Contract Act, 1872 (Specific contracts covers from Section 123 onwards)
   
1. Contract of Indemnity and Guarantee
   
2. Bailment
   
3. Pledge
   
4. Agency
   
2. The Negotiable Instruments Act, 1881
   
1. Meaning of Negotiable Instruments
   
2. Characteristics
   
3. Classification of Instruments
   
4. Different provisions relating to Negotiation
   
5. Negotiability
   
6. Assignability
   
7. Right and Obligation of parties
   
8. Presentment of Instruments
   
9. Rules of Compensation
   
3. The General Clauses Act, 1897
   
1. Important Definitions
   
2. Extent and Applicability
   
3. General Rules of Construction
   
4. Powers and Functionaries
   
5. Provisions as to Orders, Rules, etc. made under Enactments
   
6. Miscellaneous
   
4. Interpretation of Statutes
   
1. Rules of Interpretation of statutes
   
2. Aids to interpretation/construction of Deeds and Documents

Detailed Syllabus of Corporate and Other Laws

There are two modules for the paper Corporate and Other Laws. The first module contains The Companies Act, 2013 and the second module contains the other laws portion. The detailed syllabus of the subject is given below.

The second module of Corporate and Other Laws focuses on the Other Laws section. This contains The Indian Contract Act, 1872, The Negotiable Instruments Act, 1881, The General Clauses Act, 1897, and Interpretation of Statutes. The detailed syllabus of the same is given below.

Section-wise weightage of Paper 2 Corporate and Other Laws

Skill-wise Weightage for Paper 2: Corporate and Other Laws

What is Law and why is it included in the CA Course?

The first and foremost question that comes to the mind of a Chartered Accountancy student is, “Why am I being taught Law in CA Course?” And it’s a completely valid question.

Before looking into the reasoning we need to know what the subject ‘Corporate and Other Laws’ is all about.

At the Intermediate level, the subject deals with:

• Company Law
• Other Laws

Company Law, as the name suggests, is all about the provisions related to a company. Other Laws however include chapters such as The Indian Contract Act, 1872, The Negotiable Instruments Act, 1881, The General Clauses Act, 1897, Interpretation of Statutes, etc.

Going with the definition provided by the ICAI, we see that Laws generally regulate the relationship between business and profession. A person working in the Accounting Department must have a fair knowledge about the legal provisions. This hugely affects business transactions and one’s ability to apply acquired professional knowledge while solving problems.

In recent times, the traditional role of a Chartered Accountant that used to be restricted to Accounting and Auditing has changed drastically. The qualified Chartered Accountants are now judged more on the basis of skills they possess.

In an organization, while performing day-to-day activities, we see the applicability of legal provisions. Even though we can refer to the Bare Act at any given point, only an expert can instantly connect a provision to the present scenario. Therefore, this subject also enhances the analytical skills of an individual, thereby making it even more important in today’s times.

Why is it important to study Law?

The Institute of Chartered Accountants of India has included Corporate and Other Laws as Paper 2 in the CA Intermediate course. It is important to study Law in the Chartered Accountancy Course for a number of reasons:

1. Getting in touch with legal provisions -

For a student belonging to the Chartered Accountancy course, it is very vital that they understand the importance of staying updated with the latest legal provisions. Qualified Chartered Accountants step into the corporate world practising a profession for which they invested a large portion of their lives. 

Here, even a calculation is made after considering the latest provisions. We can’t find out the correct figure without knowing the latest legal rates. Similarly, Law is important to carry out day-to-day activities.

2. Learning theoretical and practical aspects of the same subject -

Even though Law is evaluated as a theoretical paper, it still holds its position high up as a practical subject. The reason behind law being considered a practical subject is that we get to witness every provision of law that we studied in our day-to-day life. Thus, while studying law, we get the opportunity to study both theoretical as well as the practical aspects of the same subject.

3. Witnessing the applicability of text into real-life scenarios -

As mentioned in the above point, what we study in law, we see in our day-to-day life. For example, someone gives us a few items to look after in their absence. However, they fail to return on time. 

One of the items is a perishable good. What do we do now? We refer to the provisions of Indian Contract Act, 1872 which clearly states what a person can or can not do while looking after someone’s perishable goods. So, we see the legal provision practically applying to a basic real-life scenario.

4. Inculcating analytical skills during problem-solving -

In the corporate world, problem solving is not all about Mathematics. We need to be aware of the background upon which that particular problem is based. Many times problems are solved referring to the legal provisions. These legal provisions are created in order to provide a guideline to people whenever they find themselves facing a dilemma.

Whether Law is a Theoretical or Practical Subject?

When students get introduced to Law, they ask whether Law is a theory subject or a practical subject? The whole subject includes texts, laws, and provisions, then why do some people call Law a practical subject? To answer this question we need to first understand what is the difference between a theory subject and a practical subject?

A practical subject is often confused with a subject consisting of numerical. Students think solving a few questions consisting of a balance sheet is what makes a subject practical. On the other hand, if a subject consists of texts, students consider it to be a theory subject.

It does not matter whether a subject consists of mere texts or a lot of numerical questions, anything that you can apply in the practical world is practical. Anything that you have studied and you can apply in the real world is considered practical.

Now coming back to our question, is Law a practical subject? Let’s take an example. Suppose we studied about the ‘time value of money’ and you thought to yourself that you learnt something and it is going to help you in the practical world. Later, after becoming a professional, you decided to open your own company.

Now, in this scenario, you are going to use the knowledge of the Incorporation of a Company while starting your own company. The texts you read as theory are now applicable in the practical world to help you with the incorporation of your company. Hence, that once theory now became a practical application.

The notion of a theory and a practical subject that we are taught from the very beginning is flawed in itself. Just because a subject contains texts doesn’t make it theoretical. If you apply that theory in the real world, it becomes practical. Hence, if you are going to apply the provisions of the law in the professional world, which you will, that makes Law a practical subject.

Resources to study Law

The Institute of Chartered Accountants of India issues study materials and other resources through which students can prepare for the exam. When students get registered with the Institute of Chartered Accountants of India, they receive all the study materials required for their studies.

These study materials can be found online as well at the Board of Studies’ Knowledge Portal. The latest edition of the materials are available and students can download it as well. Students can also buy the latest materials of the Institute of Chartered Accountants of India online.

The different resources available with the students are as follows -

Study Material

The Institute of Chartered Accountants of India’s Study Material contains the entire syllabus of the course. The study materials include various modules. For the Paper 2: Corporate and Other Laws there are two modules. 

One module contains the Corporate Laws part which is about the Companies Act, 2013. The second module is of Other Laws which includes The Indian Contract Act, 1872, The Negotiable Instruments Act, 1881, The General Clauses Act, 1897, and The Interpretation of Statutes.

The latest version of the Institute of Chartered Accountants of India’s Study Materials contains practice questions at the end of each chapter. With the inclusion of questions in the Study Materials themselves, the Practice Manuals have been discontinued.

Earlier the Study Materials included Multiple Choice Questions as well but with the latest editions of the Study Materials, the Multiple Choice Questions are not included in the book. There is a separate booklet for the Multiple Choice Questions.

The students can download the latest version of the Paper 2: Corporate and Other Laws Study Material by clicking here.

Practice Manual

The Practice Manual for the Corporate and Other Laws have been discontinued by the Institute of Chartered Accountants of India. Earlier the Practice Manuals contained the questions for each chapter along with the past year questions and other important questions. With the new editions of Study Materials, the questions are included in the Study Materials themselves and hence the Practice Manuals are no longer required.

But if a student can find the previous practice manuals, they can write down the important questions from them. One thing to keep in mind while using old editions of study materials is that students should keep the amendments applicable to their respective attempts in mind.

Multiple Choice Questions (MCQs) and Case Scenarios Booklet

The Institute of Chartered Accountants of India has allotted 30 marks for Multiple Choice Questions and Case based scenarios in certain core papers of CA Intermediate. These objective type questions are compulsory and come for 30 marks in the exams. Corporate and Other Laws is one such paper in which the Multiple Choice Questions have been launched.

To help students prepare for the Multiple Choice Questions, the Institute of Chartered Accountants of India has launched Multiple Choice Questions and Case Scenarios booklet. Earlier the Multiple Choice Questions were mentioned in the study materials themselves but with the latest editions, the Multiple Choice Questions are issued separately in a booklet.

Students can view and download the Multiple Choice Questions and Case Scenarios by clicking here.

Revision Test Papers

Revision Test Papers or RTPs are one of the most important resources available to the students. They are issued before each attempt and include the amendments applicable for each attempt along with the important questions for each chapter.

The Revision Test Papers contain questions that have high chances of coming into the examination. Students can easily score 10 to 15 marks by going through the Revision Test Papers thoroughly and practising them well.

Students can download the Revision Test Papers from the below mentioned links -

Mock Test Papers

The Institute of Chartered Accountants of India issues Mock Test Papers before each attempt. These papers are designed in the same manner as the question paper to be asked in the exam. The mock test paper is of 100 marks just like the actual exam.

Mock Test Papers are set up as per the ICAI’s exam pattern. There is the same number of questions as there would be in the actual exam. The time allotted for the Mock Test Paper is 3 hours. Students are required to solve the paper in exactly 3 hours time.

Students have the option to give the Mock Test at the nearest ICAI or Board of Studies centre. These mock tests are set up in the same atmosphere as the actual exam. Alternatively, students can also download the Mock Test Papers from the Institute of Chartered Accountants of India’s website.

Giving mock tests improves the speed of the students before even taking the actual exam. Students get to know what exactly to expect from the exam. Moreover, this gives an idea of where a student stands regarding their preparation.

Corporate and Other Laws Mock Test Papers

The Mock Test Papers for the Paper 2: Corporate and Other Laws is divided into two sections called Division A and Division B. Division A is of 30 marks and contains Multiple Choice Questions and Case based scenarios. 

There are four questions in this division out of which a student has to attempt any three. The second part of the paper, Division B, contains descriptive questions and is of 70 marks.

Students can access the latest Mock Test Paper and its answer for Paper 2 Corporate and Other Laws by clicking here.

Previous Year Papers

The ICAI also uploads the past term question papers on its website for students to download and practice. Previous year question papers are a great resource for CA students. By solving these papers students get an idea of what to expect in the exam.

There are high chances of questions getting repeated in the exam from the previous year papers. It is highly suggested to students to download these papers and solve them for practice purpose and for finding out the repetitive questions which have high chances of coming in the exams.

Students can download the previous year question papers for Corporate and Other Laws from the direct links mentioned below.

Suggested Answers

Along with the question papers, the Institute of Chartered Accountants of India also issues Suggested Answers for each paper. These answers are for students to tally their answers and figure out whether their answers were correct or not. These are also a way to check how ICAI expects the questions to be answered.

Students can check out the suggested answers of Corporate and Other Laws for the respective attempts by clicking the direct links below.

Chapter-wise List of Sections for Corporate and Other Laws

Sections form a huge part of CA Intermediate Corporate and Other Laws paper. Mentioning relevant sections in the answers gives a hint of student’s knowledge about the subject matter and forms a good impression on the examiner. Students should try to mention sections wherever possible.

Students should make a list of the sections from the very beginning and try to go through it every day to help them remember these sections. We have mentioned all the sections from all the chapters at one place below. Students can note it down for their use.

COMPANIES ACT, 2013

CHAPTER I: PRELIMINARY

CHAPTER II: INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO

CHAPTER III: PROSPECTUS AND ALLOTMENT OF SECURITIES

CHAPTER IV: SHARE CAPITAL AND DEBENTURES

CHAPTER V: ACCEPTANCE OF DEPOSITS BY COMPANIES

CHAPTER VI: REGISTRATION OF CHARGES

CHAPTER VII: MANAGEMENT AND ADMINISTRATION

CHAPTER VIII: DECLARATION AND PAYMENT OF DIVIDEND

CHAPTER IX: ACCOUNTS OF COMPANIES

CHAPTER X: AUDIT AND AUDITORS

The Indian Contract Act, 1872

PRELIMINARY

CHAPTER I: Communication, Acceptance and Revocation of Proposals

CHAPTER II: Contracts, Voidable Contracts, and Void Agreements

CHAPTER III: Contingent Contracts

CHAPTER IV: Performance of Contracts which must be Performed

CHAPTER V: Certain Relations Resembling those created by Contract

CHAPTER VI: The Consequences of Breach of Contract

CHAPTER VIII: Indemnity and Guarantee

CHAPTER IX: Bailment

CHAPTER X: Agency Appointment and Authority of agents

The Negotiable Instruments Act, 1881

CHAPTER I: PRELIMINARY

CHAPTER II: NOTES, BILLS, AND CHEQUES

CHAPTER III: PARTIES TO NOTES, BILLS AND CHEQUES

CHAPTER IV: OF NEGOTIATION

CHAPTER V: OF PRESENTMENT

CHAPTER VI: OF PAYMENT AND INTEREST

CHAPTER VII: OF DISCHARGE FROM LIABILITY ON NOTES, BILLS AND CHEQUES

CHAPTER VIII: OF NOTICE OF DISHONOUR

CHAPTER IX: OF NOTING AND PROTEST

CHAPTER X: OF REASONABLE TIME

CHAPTER XI: OF ACCEPTANCE AND PAYMENT FOR HONOUR AND REFERENCE IN CASE OF NEED

CHAPTER XII: OF COMPENSATION

CHAPTER XIII: SPECIAL RULES OF EVIDENCE

CHAPTER XIV: OF CROSSED CHEQUES

CHAPTER XV: OF BILLS IN SETS

CHAPTER XVI: OF INTERNATIONAL LAW

CHAPTER XVII: OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS

The General Clauses Act, 1897

CHAPTER I: PRELIMINARY

CHAPTER II: GENERAL DEFINITIONS

CHAPTER III: GENERAL RULES OF CONSTRUCTION

CHAPTER IV: POWERS AND FUNCTIONARIES

CHAPTER V: PROVISIONS AS TO ORDERS, RULES, ETC., MADE UNDER ENACTMENTS

CHAPTER VI: MISCELLANEOUS

Important Sections for Corporate and Other Laws

It could be hard for students to remember all the sections from each chapter. For this reason we have mentioned some of the important sections below. Students should pay high attention to these sections and try to mention them in the relevant answers in the exam.

Amendments for Paper 2 Corporate and Other Laws

The Institute of Chartered Accountants of India issues amendments before every attempt. These amendments are in lieu of announcements made during the period of 1st May to 30th April of every year. Students need to keep themselves updated with the amendments in order to prepare for the exams. These amendments are very important from the exam point of view and questions related to the amendments should be given utmost importance as they have high chances of coming in the examination.

The amendments in Corporate and Other Laws till 30th April, 2020 is mentioned below. Students can find this amendment and other important questions by clicking here.

PART I- COMPANY LAW

THE COMPANIES ACT, 2013

I. Chapter 2: Incorporation of Company and Matters Incidental thereto

Amendments related to - Notification G.S.R. 357(E) dated 10th May, 2019

The Central Government has amended the Companies (Incorporation) Rules, 2014, by the Companies (Incorporation) Fifth Amendment Rules, 2019.

In the Companies (Incorporation) Rules, 2014, Rule 8 has been fully substituted by Rule 8, Rule 8A and Rule 8B.

[Note: On page 2.19 of the Study Material, under the heading of Undesirable names, ‘the words and combinations thereof which shall not be used in the name of a company depicting the same meaning unless the previous approval of the Central Government has been obtained for the use of any such word or expression’, were earlier covered under Rule 8. As per the amendment now they are dealt in with Rule 8B.]

II. Chapter 3: Prospectus and Allotment of Securities

Amendments related to - Companies (Amendment) Act, 2019

Following sections of the Companies Act, 2013 have been amended by the Companies (Amendment) Act, 2019 through Notification No. S.O. 2947(E) dated 14th August, 2019 [the sections contained therein shall deemed to have come into force on 15th August, 2019]

1. In section 26-

• in sub-sections (4), (5) and (6), for the word “registration”, the word “filing” shall be substituted;
  
• sub-section (7) shall be omitted

[Amendment to be incorporated on Pg. 3.7 and 3.8 of SM]

2. In section 29-

• in sub-section (1), in clause (b), the word “public” shall be omitted;
  
• after sub-section (1), the following sub-section shall be inserted, namely:-

“(1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder.”

[Amendment to be incorporated on Pg. 3.9 of SM]

3. In section 35, in sub-section (2), in clause (c), for the words “delivery of a copy of the prospectus for registration”, the words “filing of a copy of the prospectus with the Registrar” shall be substituted.

[Amendment to be incorporated on Pg. 3.23 of SM]

III. Chapter 4: Share Capital and Debentures

Amendments related to - Notification G.S.R. 574(E) dated 16th August, 2019

The Central Government has amended the Companies (Share Capital and Debentures) Rules, 2014, by the Companies (Share Capital and Debentures) Amendment Rules, 2019.

In the Companies (Share Capital and Debentures) Rules, 2014:

1. In Rule 4, in sub-rule (1),

(i) for clause (c), the following clause shall be substituted, namely:-

“(c) the voting power in respect of shares with differential rights of the company shall not exceed seventy four per cent. of total voting power including voting power in respect of equity shares with differential rights issued at any point of time;”;

2. In the principal rules, in rule 18, for sub-rule (7), the following sub-rule shall be substituted, namely:-

“(7) The company shall comply with the requirements with regard to Debenture Redemption Reserve (DRR) and investment or deposit of sum in respect of debentures maturing during the year ending on the 31st day of March of next year, in accordance with the conditions given below:-

(a) Debenture Redemption Reserve shall be created out of profits of the company available for payment of dividend;

(b) the limits with respect to adequacy of Debenture Redemption Reserve and investment or deposits, as the case may be, shall be as under;-

(i) Debenture Redemption Reserve is not required for debentures issued by All India Financial Institutions regulated by Reserve Bank of India and Banking Companies for both public as well as privately placed debentures;

(ii) For other Financial Institutions within the meaning of clause (72) of section 2 of the Companies Act, 2013, Debenture Redemption Reserve shall be as applicable to Non –Banking Finance Companies registered with Reserve Bank of India.

(iii) For listed companies (other than All India Financial Institutions and Banking Companies as specified in sub-clause (i)), Debenture Redemption Reserve is not required in the following cases-

(A) in case of public issue of debentures –

• for NBFCs registered with Reserve Bank of India under section 45-IA of the RBI Act, 1934 and for Housing Finance Companies registered with National Housing Bank;
  
• for other listed companies;

(B) in case of privately placed debentures, for companies specified in sub-items A and B.

(iv) for unlisted companies, (other than All India Financial Institutions and Banking Companies as specified in sub-clause (i)) –

(A) for NBFCs registered with RBI under section 45-IA of the Reserve Bank of India Act, 1934 and for Housing Finance Companies registered with National Housing Bank, Debenture Redemption Reserve is not required in case of privately placed debentures.

(B) for other unlisted companies, the adequacy of Debenture Redemption Reserve shall be ten percent. of the value of the outstanding debentures;

(v) In case a company is covered in item (A) or item (B) of sub-clause (iii) of clause (b) or item (B) of sub-clause (iv) of clause (b), it shall on or before the 30th day of April in each year, in respect of debentures issued by a company covered in item (A) or item (B) of subclause (iii) of clause (b) or item (B) of sub-clause (iv) of clause (b), invest or deposit, as the case may be, a sum which shall not be less than fifteen per cent., of the amount of its debentures maturing during the year, ending on the 31st day of March of the next year in any one or more methods of investments or deposits as provided in sub-clause (vi):

Provided that the amount remaining invested or deposited, as the case may be, shall not at any time fall below fifteen percent. of the amount of the debentures maturing during the year ending on 31st day of March of that year.

(vi) for the purpose of sub-clause (v), the methods of deposits or investments, as the case may be, are as follows:—

(A) in deposits with any scheduled bank, free from any charge or lien;

(B) in unencumbered securities of the Central Government or any State Government;

(D) in unencumbered bonds issued by any other company which is notified under sub-clause (f) of section 20 of the Indian Trusts Act, 1882:

Provided that the amount invested or deposited as above shall not be used for any purpose other than for redemption of debentures maturing during the year referred above.

(c) in case of partly convertible debentures, Debenture Redemption Reserve shall be created in respect of non-convertible portion of debenture issue in accordance with this sub-rule.

(d) the amount credited to Debenture Redemption Reserve shall not be utilized by the company except for the purpose of redemption of debentures.

“[Enforcement Date: 16th August, 2019]

[Amendment to be incorporated on Pg. 4.44 of SM]

IV. Chapter 7: Management and Administration

Amendments related to - Companies (Amendment) Act, 2019

Following sections of the Companies Act, 2013 have been amended by the Companies (Amendment) Act, 2019 through Notification No. S.O. 2947(E) dated 14th August, 2019 [the sections contained therein shall deemed to have come into force on 15th August, 2019]

In section 90,

(i) after sub-section (4), the following sub-section shall be inserted, namely:-

“(4A) Every company shall take necessary steps to identify an individual who is a significant beneficial owner in relation to the company and require him to comply with the provisions of this section.”;

[Amendment to be incorporated on Pg. 7.13 of SM]

(ii) after sub-section (9), as so substituted, the following sub-section shall be inserted, namely:

“(9A) The Central Government may make rules for the purposes of this section.”

[Amendment to be incorporated on Pg. 7.14 of SM]

(iii) in sub-section (11), after the word, brackets and figure “sub-section (4)”, the words, brackets, figure and letter “or required to take necessary steps under sub-section (4A)” shall be inserted.

[Amendment to be incorporated on Pg. 7.14 of SM]

V. Chapter 9: Accounts of Companies

(A) Amendments related to - Notification G.S.R. 390(E) dated 30th May, 2019

The Central Government has amended the Schedule VII of the Companies Act, 2013.

In the said Schedule VII, after item (xi) and the entries relating thereto, the following item and entries shall be inserted, namely:

“(xii) disaster management, including relief, rehabilitation and reconstruction activities.”

[Enforcement Date: 30th May, 2019]

[Amendment to be incorporated on Pg. 9.38 of SM

(B) Amendments related to - Notification G.S.R. 776(E) dated 11th October, 2019

The Central Government has amended the Schedule VII of the Companies Act, 2013.

In the said Schedule VII, for item (ix) and the entries relating thereto, the following item and entries shall be substituted, namely:

“(ix) Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government, and contributions to public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research (CSIR), Department of Atomic Energy (DAE), Defence Research and Development Organisation (DRDO), Department of Biotechnology (DBT), Department of Science and Technology (DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).

”[Enforcement Date: 11th October, 2019]

[Amendment to be incorporated on Pg. 9.38 of SM]

(C) Amendments related to - Companies (Amendment) Act, 2019

Following sections of the Companies Act, 2013 have been amended by the Companies (Amendment) Act, 2019 through Notification No. S.O. 2947(E) dated 14th August, 2019 [the sections contained therein shall deemed to have come into force on 15th August, 2019]

In section 132—

(i) after sub-section (1), the following sub-section shall be inserted, namely:—
“(1A) The National Financial Reporting Authority shall perform its functions through such divisions as may be prescribed.”

[Amendment to be incorporated on Pg. 9.16 of SM]

(ii) after sub-section (3), the following sub-sections shall be inserted, namely:—

“(3A) Each division of the National Financial Reporting Authority shall be presided over by the Chairperson or a full-time Member authorised by the Chairperson.

[Amendment to be incorporated on Pg. 9.17 of SM]

(iii) in sub-section (4), in clause (c), for sub-clause (B), the following sub-clause shall be substituted, namely:—

“(B) debarring the member or the firm from—

I. being appointed as an auditor or internal auditor or undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate; or

II. performing any valuation as provided under section 247,

[Amendment to be incorporated on Pg. 9.18 of SM]

(D) Amendments related to - Notification G.S.R. 636(E) 5th September, 2019

In the National Financial Reporting Authority Rules, 2018, after clause (c) of sub -rule (1) of rule 3, the following explanation shall be inserted, namely:-

“Explanation.- For the purpose of this clause, “banking company” includes ‘corresponding new bank’ as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and clause (b) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) and ‘subsidiary bank’ as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959).”.

[Enforcement Date: 5th September, 2019]

[Amendment to be incorporated on Pg. 9.19 of SM]

(E) Amendments related to - Notification G.S.R. 803 (E) dated 22nd October, 2019 w.e.f. 1st December , 2019

The Central Government has amended the Companies (Accounts) Rules, 2014, by the Companies (Accounts) Amendment Rules, 2019.

In the Companies (Accounts) Rules, 2014, in rule 8, in sub-rule (5), after clause (iii), the following clause shall be inserted namely:—

“(iiia) a statement regarding opinion of the Board with regard to integrity, expertise and experience (including the proficiency) of the independent directors appointed during the year”.

Explanation.—For the purposes of this clause, the expression “proficiency” means the proficiency of the independent director as ascertained from the online proficiency self- assessment test conducted by the institute notified under sub-section (1) of section 150.

[Amendment to be incorporated on Pg. 9.26 of SM]

Amendments related to - Notification G.S.R. 313(E).—dated 26th May, 2020

The Central Government has amended the Schedule VII of the Companies Act, 2013.

In Schedule VII, item (viii), after the words “Prime Minister’s National Relief Fund”, the words “or Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)” shall be inserted.

[Enforcement Date: 28th March, 2020]

[Amendment to be incorporated on Pg. 9.38 of SM]

PART II- OTHER LAWS THE INDIAN CONTRACT ACT, 1872

[I] THE INDIAN CONTRACT ACT, 1872

Amendment via the Jammu and Kashmir Reorganisation Act, 2019, dated 9th August, 2019. The amendment is effective with effect from 31st October, 2019.

As per the Jammu and Kashmir Reorganisation Act, 2019, in the Indian Contract Act, 1872, in sub-section (2) of section 1, words, "except the State of Jammu and Kashmir" shall be omitted.

Now, Section 1 will be read as under,‘

Short title- This Act may be called the Indian Contract Act, 1872.

Extent, Commencement- It extends to the whole of India and it shall come into force on the first day of September, 1872.

Saving- Nothing herein contained shall affect the provisions of any Statute, Act or Regulation not hereby expressly repealed, nor any usage or custom of trade, nor any incident of any contract, not inconsistent with the provisions of this Act.’

[II] THE GENERAL CLAUSES ACT, 1897

Amendment via the Jammu and Kashmir Reorganisation Act, 2019, dated 9th August, 2019. The amendment is effective with effect from 31st October, 2019.

As per the Jammu and Kashmir Reorganisation Act, 2019, the General Clauses Act, 1897 has been extended as a whole.

Marks Distribution

The Paper 2 of CA Intermediate - Corporate and Other Laws comes for 100 marks in the exam. This paper is divided into two sections called Division A and Division B. Division A comes for 30 marks, and Division B comes for 70 marks. 

Below, we have mentioned the chapter wise marks distribution. This way students will know how much attention to be given to each chapter and prepare accordingly.

Paper Pattern

How to Study Law?

Once you have prepared your Study Schedule, it’s time to follow it. Now, how to follow it? It’s simple - by studying. And how to study Law? Well, that’s exactly what we’re going to discuss in this section.

1. Start off with the big chapters first. Once you finish that, the small chapters will be over in no time.
2. Read all the provisions, Repeat them, and then Visualise them. Read, Repeat, and Visualise.
3. If you have time, consider writing and practicing key points.
4. It is very important to practice RTP and MTP. DO NOT SKIP THAT.
5. Remember to maintain the study speed. Do not overstress yourself but also do not be carefree.
6. If you have the opportunity to live with your parents or siblings or flatmates, ask them to listen to your answers. If that person is also a student, listen to their answer, too in return.
7. Many of you must have heard that writing Section numbers in the exam is very important. At the Intermediate level, it is not VERY important but it is certainly appreciated. WRITE SECTION NUMBERS ONLY IF YOU ARE 100% SURE YOU’RE CORRECT. Writing wrong Section numbers is worse than writing no Section number at all.
8. The length of your answer in the exam must be appropriate and to the point. Do not miss out on the important details but do not include unnecessary points.
9. Explain the provisions properly in the exam.
10. Writing answers for the case studies must be very considerate.
    There shall be four parts to an answer:
    
    i) Introduction - Introduce the question and the provision related to it
    ii) Explain the provision applicable to the given question
    iii) Establish how the question and the provision are related
    iv) Conclude the answer
11. Start a fresh answer on a fresh page.
12. Number the questions properly.
13. Read all the instructions mentioned on the question paper.
14. Use black ball point pen.
15. Follow ICAI’s material. If ICAI has made a table for an answer, you also make a table for that answer. Write answers as per the ICAI’s Guidelines.

How to score good marks in CA Intermediate Law?

There are two things to be kept in mind if you want to score good marks in exams especially for a subject like Law. The first thing is your preparation before the exam and the second is your presentation during the exam. Here, we are going to talk about how to prepare in order to score good marks in the Law exam.

How to Prepare for CA Intermediate Law exam?

There are two types of students, one who do self study and the ones who take classes. Their approach of studies is different from each other but there are few things which are common for both of them.

The students who do self study have two extra steps to follow as compared to the students who take coaching classes. The first thing is they need to do plain reading. If you are doing self studies, just open the Institute of Chartered Accountants of India’s Study Material and start reading irrespective of whether you are understanding anything or not.

Read the chapters

Read the chapters out loud. This has Audio-visual benefits. The combination of sound and visual helps you to understand things better.

Conceptual clarity

The second thing the students need to do is get conceptual clarity. Since they don't have any guidance to look forward to, they need to analyze what they are reading by breaking the sentence into different parts.

Break the sentence

For example, suppose you are reading about ‘bailment’. ‘Bailment is delivery of goods from one person to another for some purpose.’ Here, you need to break the definition into several parts, such as ‘bailment’ is -

1. Delivery of
2. Goods
3. From one person to other
4. For some purpose

Analyze the meaning

Now, try to analyze the meaning of each term. Learn the types of delivery, like actual, symbolic and constructive. Then consider what do we mean by goods. Likewise, do it for all the definitions and understand all the components of a word.

Prepare notes

You should prepare two types of notes. One is your detailed notes and one is your summary notes. All the analysis you have done should be mentioned in the detailed notes. Your summary notes that you have created should include the keywords which you must use in your answers in the examination. This summary notes will help you with your revisions.

Section Chart

Apart from the detailed notes and the summary notes, you should also create a notebook for your section charts. All the sections that you come along during your preparation should be mentioned in this notebook. Mention the section number and the section topic. You can mention the sections chapter wise or Act wise.

Immediate Revision

Students should follow the one hour, one week, one month rule. Revision is not something you need to do only at the time of examination. Immediate revision is very important. 

The first revision should be done within twenty four hours of the initial study. The second revision should be done within the first week, and the third revision should be done within a month of the initial studies. The more you revise, the more you will remember. Hence, try to do as many revisions as possible and follow this rule.

Follow the institute’s materials

The Institute of Chartered Accountants of India's materials play a very crucial role for the exam. The Institute highly prefers its own publications. Hence, students should follow all the resources provided by the Institute of Chartered Accountants of India. 

This include the study material, revision test papers, mock test papers, previous year papers, suggested answers, multiple choice questions and case scenarios booklet. The questions mentioned in these have a very high chance of coming in the exam.

Practice as many questions as possible

Students should try to practice as many questions as possible. Practice does not mean just looking at the questions and analyzing whether you know the answer or not. You should practice through writing down the answers to the questions. The more you practice the better you will perform in the examination.

How to Prepare Notes for Law

Preparing notes for theory subjects is a very important aspect of preparing for exams. Writing down things while preparing notes helps in remembering the things for a longer period of time then the same notes help students at the time of revising for the exam. There is also a right way of preparing the notes, below are mentioned certain things that need to be kept in mind while preparing your notes for Law.

Do NOT write everything

Students should try to avoid writing everything down in their notes. They should try to only include things which are important. Writing everything down creates confusion and it should be avoided.

Make a list of all the Section numbers and names

Making a list of all the section numbers along with the section names is very important. Mentioning sections in the answers in the exam helps you score good marks, making a list of all the sections helps you remember them and hence write it down in your answers and score well.

Write new topic on a fresh page

All the new topics should be started from a fresh page. That way it will be easy to get a bird’s eye view while revising.

Number all the pages and prepare a table of content

Numbering the pages and preparing a table of content makes it easy to find any topic quickly. This is especially helpful during the last-minute revision.

Use colours

Using colourful pens and pencils adds the visual appeal to the notes. It has also been proven that using different colours in the notes help in retaining the topics. Apart from that, it will create a mental image of provisions in your brain which would make it easy for you to recall answers during the examination.

Use bookmarks

Using bookmarks at appropriate pages will help a lot. It makes it easier to reach a page. Use a system while placing bookmarks and place them only on important pages.

Include all the latest amendments

Amendments are very important from the exam point of view. Questions with amendments have a high chance of coming in the exam. Your notes should contain all the latest amendments and your preparation should be in accordance with the amendments.

Highlight the keywords

Highlighting the keywords would make the important points pop and it will save time while making a quick round of revision.

Underline the keywords

You should make a habit of underlining the keywords during preparing your notes as well as in the examination. Underlining the keywords also help in remembering them to mention them in the exam.

Make tables and charts

Tables and charts contribute to easy learning. It helps us memorise difficult points. Making tables and charts in the notes will help in building a habit and you will be able to use them in the exam with ease.

Write Bare Act as well as your own language

Writing Bare Act is important because sometimes we might need to write important provisions in exams. However, just below the Bare Act, write what you understood in your own language. That way your concepts will be clear and you’ll already have your own answers prepared.

How to Write Answers in Law Exam

It is not enough to just prepare well for the examination, that preparation will be of no use if you don’t know how to present your answers in exams. You need to be good at time management in order to write your paper in a systematic manner.

You get 180 minutes to write your answers in the Law exams. You have to utilize these 180 minutes in the best way possible. From these 180 minutes, keep aside 20 minutes for reviewing your answers at the end of the exam. 

Students have to answer 5 questions in the remaining 160 minutes. That means, students, get approximately 32 minutes to write each answer including all its parts. Now, we will discuss how to attempt our paper in the limited time we have.

How to attempt answers in the Law exam?

Here, we are only going to focus on the descriptive type questions and how to answer them. The descriptive questions are of types - direct questions and case study based questions.

Suppose you are asked ‘State the manner of rotation of Auditors.’ Now, that is a direct question. In these direct questions, you have to present your answers in para-points. The points should consist of short paragraphs.

You should start your answers with, for example, “According to Section ______ of Companies Act, 2013”, and mention the relevant section.

If you don’t remember the section number then don’t mention it but never mention the wrong section number, instead directly write “According to the provisions of Companies Act, 2013” and continue with your answer.

In the case of case studies, you should divide your answers in four parts. You need to build up your answer to come to the conclusion that has been asked. Firstly, you should start with mentioning the provision of law relating to the question and try to quote the section number.

Then proceed with explaining the information provided in the given case. You can start your second para by writing, “In the given case…” and then go about explaining the case.

The third part should be that of analysis. You need to compare the given situation with the provisions of law and point out the similarities or the differences.

At the end, you should conclude the answer by giving your opinion.

Tips for answering the questions in Law exam

Start each question from fresh page

Students have to keep in mind to start the answer of each question from a fresh page. But if there are several parts in a question, students can answer on the same page depending on the type of question.

Mention question number on the top

Students have to clearly mention the question number on the top of the page, for example, ‘Answer to Question 5’ should be written at the top center before answering the question.

Attempt the best answer first

The first question you are going to attempt should be the best answer you know. The question sequence does not matter. Even if it is the last question, if you know it very well, attempt it first. One thing to keep in mind is to attempt all the parts of the question together.

No need to remember case laws

For CA Intermediate students, there is no need to learn all the case laws. You can just remember the important sections. Mentioning section numbers in answers help you score well in the examination.

Never quote incorrect section numbers

It is important to mention section numbers in your answer but you must make sure that you never mention wrong section numbers. Mentioning incorrect section numbers does more harm than good and you won’t score good marks.

Underline and use keywords

It is not important to write your answers in the exact language as your Study Materials. But you have to make sure that you are using the keywords. Also ensure that you are underlining your keywords, this will highlight them and give a good impression to the examiner.

Length of the answer does not matter

It does not matter how many pages you are filling with your answer. All you need to do is make sure all the relevant points are mentioned in the answer and in a systematic manner. You should not focus on the length of the answer.

Attempt the whole paper

You should focus on finishing the entire paper. Even if there are questions you don’t know the answers to, try to attempt the question. First answer all the questions that you know then go on and attempt the questions you're not very sure about. Try to think like a lawmaker and think what can be the right thing to do in a given scenario and write it down.

Never use short forms

Students must not use any short forms in their answers. Different people understand different things from different short forms. Hence, short forms should be avoided throughout the paper.

How to Attempt Multiple Choice Questions in Law?

Now we will focus on how to attempt Multiple Choice Questions in the Corporate and Other Laws exam. The Multiple Choice Questions asked in the exam are of 1 or 2 marks. There are case based questions for MCQs. Students should try to utilize the 15 minutes reading time they get in going through the case study based questions.

While attempting the answers, you should try to attempt the Multiple Choice Questions first. These 30 marks Multiple Choice Questions should be completed in 40 minutes. Maximum time you can allot to each Multiple Choice Question is 1 to 1.5 minutes. If you give more time than that then you won’t be able to finish your paper on time.

There are no negative marks in the questions, hence, you should attempt all the questions. Solve all the Multiple Choice Questions and Case based scenarios provided by the Institute of Chartered Accountants of India as they have high chances of coming in the exam.

Things to be kept in mind while attempting Multiple Choice Questions:

1. There is NO negative marking.
2. Multiple Choice Questions may carry 1 to 2 marks.
3. Utilise the initial 15 minutes in reading the Multiple Choice Questions (especially the case study based MCQs)
4. Try to complete Multiple Choice Questions within 40 minutes.
5. Mrak answers while reading, if possible.
6. One answer should not take more than 1 to 1.5 minutes.
7. Read the questions carefully.
8. Read all the options carefully.
9. Don’t take too much time on one question.
10. Attempt all the questions.
11. Go through sample questions provided by the ICAI.
12. Practice as many Multiple Choice Questions as possible

If you have solved the Multiple Choice Questions and still feel like you need more practice then you can check out the MCQs and Case Based Scenarios questions available along with the courses on Edu91.

How to re-start your preparation for Law?

If you are someone who gave your exam but for some reasons could not clear your attempt, it is okay. All you need to do is start again and give your attempt with even more preparation. Other subjects of CA Intermediate are relatively easier to clear than Law. So, we will help you figure out the right strategy to start your preparation again.

The first thing you need to do is make your mind up that you have to give the exam. And after that you need to follow the below mentioned steps to re start your preparation.

Decide your next course of action

Figure out what it is that you need at the moment. Whether you need to take classes or do self studies. If you think you have forgotten what you learnt then you can take classes, especially the fast track classes, in order to revisit your concepts.

You can check out the Corporate and Other Laws Fast Track Classes by Shivangi Agrawal Ma’am available on Edu91. The fast track batches are available through three medium - Android classes, Google Drive classes and Pendrive classes.

While deciding your next course of action you need to answer the following questions -

Should I take classes?

Deciding whether to take classes or not is totally your call. Did you do self study earlier? If yes, honestly ask yourself did you actually understand the concepts? If yes, then you don’t need to take any classes. But if you have not understood the concepts well then you need to go for classes. You can either go for regular classes or fast track classes depending on your level of preparation and the time you have.

Now, if you are a student who did take the classes then you need to ask yourself whether you were attentive in the class to actually retain what was taught and whether you understood the concepts or not. If you took classes and you were attentive and you do remember the concepts then you don’t need to take classes. But if you think your concepts are not clear, then take either regular or fast track classes depending on the time you have.

Which book should I refer?

If you decide on not going for classes then you don’t need to get any new book. Study from the books you previously studied from and just update it with the latest amendments.

Revision Strategy

If you are not taking any classes then you need to do at least two revisions apart from the revision that you do a day before the exam. If you are taking classes, then you need to finish it as soon as possible. You can consider your classes as your first revision and then you need to do at least one more revision before the exam.

Here is a 90 hours plan which you can follow for your preparation -

90 hours revision plan

The 90 hours revision plan is very crucial. You must follow this revision plan for Corporate and Other Laws. All you need to do is study Law for 3 hours every day for 30 days. We have mentioned how much time to allot to which chapter. This is a suggestive plan and you can modify it as per your requirement. If you think you need to give more time to a chapter than allotted here then you can surely do that.

You saw the allotted hours for each chapter for both revision and practicing questions. From the 90 hours plan, 84 hours are allotted to revision and questions. Now, you’ll be left with 6 extra hours at your disposal.

You have to utilize these 6 hours in equipping yourself with the latest amendments and the questions related to amendments provided in the Revision Test Papers and all other previous Revision Test Papers you can find, especially the RTPs from the previous three attempts.

You also need to solve all the questions from every Mock Test Papers you can find, and the Multiple Choice Questions and Case based scenarios mentioned in the booklet provided by the Institute of Chartered Accountants of India. Solving all these papers might take more time than allotted, in that case you can utilize the time you have saved during your preparations.

When to start?

Many students get confused with the question when to start. They try to figure out a time which is well suited to start their preparation. But the best time to restart your preparation is now. You wont get a better time than this. The sooner you start the more time you have for your preparation and revision. Don't procrastinate and start immediately.

How much time to devote to each chapter?

How much time to devote to which chapter depends upon your preparation and conceptual clarity of that chapter. Someone can only give you a generic idea of how much idea one should devote to a particular chapter but the actual time depends on you. If you can’t figure out time allocation then follow the schedule mentioned above.

Should I go for selective study?

The answer to this question is a big no. Selective study should be avoided at all costs. The Institute of Chartered Accountants of India can ask questions from anywhere. It has also been noticed that sometimes the Institute asks one question from each chapter. 

Also, with the onset of Multiple Choice Questions and Case based scenarios in the current paper, it has become highly important to pay equal attention to all the chapters.

How to identify mistakes?

When you start preparing for the exams you might come across questions which were asked in your previous attempt. While answering those questions you’ll come across certain things that you did not mention in your answers previously, or realize that what you answered was different than what was actually asked. 

This is the best way to identify your mistakes. When you start answering the same questions again, you find out where you went wrong and can avoid it in your exam.

Should I go for revaluation?

You are the best judge of yourself. Ask yourself if you got the marks that you actually deserved and answer honestly. If you think the marks you are allotted are wrong and you deserved better marks then you can go for revelation. 

But applying for revaluation does not mean you will not start your preparation. Prepare yourself for the next attempt without focusing on the result of your revaluation.

Is the time that I have enough for preparation?

If you have already given the exam once then you already have done at least one revision. No matter how much time you have, keep it in mind that it is enough. Since you have already given the exam once you are anyway more experienced than the student who is giving the exam for the first time. All you need to do is start your preparation and finish it in whatever time you are left with. It is never too late.

Courses

The CA Intermediate courses are available at Edu91 as regular classes and fast track classes. The classes are available in three different modes as - Android classes, Google Drive Classes, and Pendrive classes. You can opt for the classes based on your needs and the time you have left with you.

Take your CA Inter Law exams preparation to the next level with Edu91. Get up to 65% OFF on May 2022 and November 2022 Law classes.

Features of Edu91 classes

1. Full coverage as per ICAI syllabus.
   
2. MCQs covered in each Chapter including case study based MCQs.
   
3. Chapter-wise Question Bank covering RTP, past year etc.
   
4. Last-minute Revision Notes.
   
5. Conceptual clarity with charts and practical examples on every topic.
   
6. Doubt support through Whatsapp.
   
7. Law Paper presentation tips.
   
8. Notes are provided in pdf form.
   
9. The videos can be fully watched three times.
   
10. Classes full of Edutainment - education and entertainment.

Features of Pen drive classes

If you opt for pen drive classes you get pen drive delivered to your doorstep. Pen drive classes are good if you live in an area with low internet connectivity. The Internet is required only to download the software and updates and after that you can watch the videos without any internet connection.

Features of Android classes

Android classes are also available at Edu91. Students need to download the Edu91 app in order to watch the classes. Android classes are good for students who don’t own a laptop. Android classes consume very little internet, hence it can be a good alternative to pen drive classes. Android classes are available for Fast Track course, May attempt, and November attempt. 

Only Corporate Law and only Other Laws classes are also available. Android classes for CA IPCC Business Laws, Ethics and Communication for May 2021 attempt are also available on Edu91.

Features of Google Drive classes

Classes for Law are also available through Google Drive. Students don't have to wait for pen drives to arrive at home to start learning. Instead they can go for Google Drive classes. These classes can be accessed online through a laptop. 

The internet connectivity is required to download the classes only at the time of software installation and any other updation required. Students can download these classes and watch them later without an internet connection.

Check Out: CA Inter May 2022 Corporate & Other Law Classes

In the end, it is important to remember that Law just like other subjects, is unique in its own ways. It is validated as a subjective paper but it carries practical aspects. In order to ace the examinations, students are required to work a little harder. 

Subjects like Law demand time and patience. More than that, it requires regularity. It would be of no use if a student studies Law for one whole month and then does not even revise it for next 3 months.

Just understanding and learning of provisions is not enough. The real test is trying to write down the same provisions without any help. Written practice is of utmost importance. Writing down the provisions brings a level of confidence in students that mere learning cannot.

Get as much help as you can. Be regular to classes. Ask questions. Study what you were taught in the class, the very same day. Solve as many papers as you can. Attempt all the questions. Watch videos available on YouTube and ICAI’s website for clarity. Be attentive in the examination hall and read all the questions carefully. Stay updated with all the latest amendments. 

All the best!