Relation of partners to one another

answered 2 days ago

Duty to indemnify for loss caused by fraud section 10 * my question is when one partner commit fraud to the third party who will liable ? * when one partner commit fraud to co partners who will liable ?

latest answer

If one partner commits fraud against a third party, the partnership as a whole is generally not liable unless the fraud was committed in the ordinary course of the partnership's business or with the authority of the other partners. In such cases, the partnership may be held liable for the fraud committed by one of its partners. If one partner commits fraud against the other partners or the partnership itself, the defrauded partners can hold the fraudulent partner personally liable for the loss caused by the fraud.

Ajitha Palaniyappan

CA Foundation

★ 0

1

33

Some time I feel when I watching exam. Past year question papers Q 1 are difficult

answered on 14-May-24 11:40

So I can I start Q2 in exam mixing of sub -questions are allowed or not allowed in assending order Some say paper will check in assending order some say if u attempt in ex Q2 a bcd are sub questions I attempted cdbc wise is it any deduction mark not going order wise

latest answer

No one will deduct marks if you attempt questions in a haphazard manner, but it leaves a bad impression in evaluators mind and could affect overall evaluation process

R G

CA Inter

★ 2K+

1

52

Prospectus

answered on 13-May-24 20:40

1) pvt Co wants to issue share….prospectus is mandatory ? Sec upto 41 shall be followed along with 42 ? 2) public / pvt Co offer share ….it was subscribed by 1 person or if offer is made to one person…..is prospectus needed for that ?

latest answer

These are case specific judgements. The facts of those specific cases required court to make deeper interpretation. However, Private company cannot offer shares to public at any cost and thus prospectus is not required. A public company must first ascertain whether it wants to offer shares to public or private individuals. Accordingly, prospectus provisions will come in picture.

Sushmita Chowdhury

CA Inter

★ 710

7

66

LLP

answered on 04-May-24 19:57

Can HUF be partner of LLP? Kindly Clarify

latest answer

Any BODY CORPORATE or INDIVIDUAL may be a partner of LLP, such body corporate shall * Be a LLP reg under this act * LLP outside India * A co. Incorporated outside India

Swetha S

CA Inter

★ 4K+

2

59

Sec 39 compounding of offence

answered on 06-May-24 20:04

Need clarification and summary about sec 39

latest answer

SORRY FOR THE WRONG SECTION

Veerendra Kesireddy

CA Inter

★ 4K+

2

57

Negotiable instrument act

answered on 30-Apr-24 17:10

Have I need to watch all the classes which are available for 14 hours ?? All The topics given is not in study material that's why I'm asking

latest answer

Will review and update on this by 2nd May.

Ajitha Palaniyappan

CA Foundation

★ 0

2

63

auditors

answered on 30-Apr-24 09:25

can 1st auditor reappointed as subsequent auditor for 5 years without cooling period

latest answer

In case the company has appointed an Individual Auditor, then such auditor cannot be re-appointed after the expiry of 5 years of its term. There should be a cooling off period of at least another 5 years.

Vidyakrishna vidyakrishna

CA Inter

★ 370

2

82

MCQ

answered on 25-Apr-24 14:22

How to compute solution for this?

latest answer

Okay Mam

Swetha S

CA Inter

★ 4K+

2

82

Doubt in GC act

answered on 25-Apr-24 12:12

Dear indigo learn team/ or friends I have been attached the question 4❓ below 👇 image. Kindly explain which concept. have been involved.. over there. It will be fruitful for me Thanks in advance

latest answer

Thanks 😊 mam i got the clarity

Balachandar S

CA Inter

★ 59K+

2

69

Allotment of securities

answered on 25-Apr-24 11:45

Difference between shares issued and shares alloted

latest answer

Got it,thank u mam

Veerendra Kesireddy

CA Inter

★ 4K+

2

57