Namo, Raga merger in CA exam paper sparks controversy
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This raised eyebrows as the institute is an independent body and not politically aligned to any party. Some made fun of the question on social media.
The question was: “All the bills receivable held by Raga Ltd were Namo Ltd’s acceptances. On April 1, 2011, Namo Ltd took over Raga Ltd in an amalgamation in the nature of merger. It was agreed that in the discharge of consideration for the business, Namo Ltd would allot three fully paid equity shares of Rs 10 each at par for every two shares held in Raga Ltd. It was also agreed that 12 per cent debentures in Raga Ltd would be converted into 13 per cent debentures in Namo Ltd of the same amount and denomination. Pass journal entries in the books of Namo Ltd and Prepare Namo Ltd balance sheet.”
CA Sansaar suggestion and humble request to ICAI....
CA Sansaar ICAI should refrain from mixing politics in exams. @theicai @narendramodi @RahulGandhi
Category : CA Exams | Comments : 0 | Hits : 1920
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