ICAI-Extension of date for registration for IPCC

IMPORTANT ANNOUNCEMENT

 

BoS/Announcement/227/12 January 30, 2012

Sub: Extension of date for registration for Integrated Professional Competence Course (IPCC)

In order to mitigate the hardship being faced by the students in registering for Integrated Professional Competence Course (IPCC), the Council at its 312th Meeting held from 25-27th December, 2011 decided to pass the following Resolution:-

Resolved that by virtue of powers vested under Regulation 205 of the Chartered Accountants Regulations, 1988, the Council of the Institute hereby orders that candidates who register for Integrated Professional Competence Course (IPCC) in the respective Decentralized Office and complete eight months study course, as on the first day of the month in which examination is held would be eligible to appear in the Integrated Professional Competence Examination (IPCE) to be held in May, 2012 examination and onwards.

Accordingly, candidates who register for Integrated Professional Competence Course (IPCC) in the respective Decentralized Office on or before 1st March/ 1st September of the year would be eligible to appear in the Integrated Professional Competence Examination (IPCE) to be held in the following November /May (in case, the last date of registration happens to be a holiday, the next working day will be the last date for registration to IPCC).

Students are therefore advised to ensure that the registration papers are submitted to the respective Decentralized Office of the Institute latest by 1st March/ 1st September, so as to be eligible to appear for Integrated Professional Competence Examination (IPCE) to be held in the following November/ May.

Students are also advised not to wait for receipt of CPT Marks Statement from the Examination Division for registration for IPCC but proceed for IPCC registration with a copy of the downloaded CPT marks statement.

Director, Board of Studies

Common interview questions and answers

1. Tell me about yourself?
Ans : The most often asked question in interviews. You need to have a short statement prepared in your mind. Be careful that it does not sound rehearsed. Limit it to work-related items unless instructed otherwise. Talk about things you have done and jobs you have held that relate to the position you are interviewing for. Start with the item farthest back and work up to the present.

2. Why did you leave your last job?
Ans: Stay positive regardless of the circumstances. Never refer to a major problem with management and never speak ill of supervisors, co-workers or the organization. If you do, you will be the one looking bad. Keep smiling and talk about leaving for a positive reason such as an opportunity, a chance to do something special or other forward-looking reasons.

3. What experience do you have in this field?
Ans: Speak about specifics that relate to the position you are applying for. If you do not have specific experience, get as close as you can.

4. Do you consider yourself successful?
Ans: You should always answer yes and briefly explain why. A good explanation is that you have set goals, and you have met some and are on track to achieve the others.

5. What do co-workers say about you?
Ans: Be prepared with a quote or two from co-workers. Either a specific statement or a paraphrase will work. Jill Clark, a co-worker at Smith Company, always said I was the hardest workers she had ever known. It is as powerful as Jill having said it at the interview herself.

6. What do you know about this organization?
This question is one reason to do some research on the organization before the interview. Find out where they have been and where they are going. What are the current issues and who are the major players?

7.. What have you done to improve your knowledge in the last year?
Try to include improvement activities that relate to the job. A wide variety of activities can be mentioned as positive self-improvement. Have some good ones handy to mention.


8. Are you applying for other jobs?
Be honest but do not spend a lot of time in this area. Keep the focus on this job and what you can do for this organization. Anything else is a distraction.

9. Why do you want to work for this organization?
This may take some thought and certainly, should be based on the research you have done on the organization. Sincerity is extremely important here and will easily be sensed. Relate it to your long-term career goals. 


10. Do you know anyone who works for us?
Be aware of the policy on relatives working for the organization. This can affect your answer even though they asked about friends not relatives. Be careful to mention a friend only if they are well thought of.

11. What is your Expected Salary?
A loaded question. A nasty little game that you will probably lose if you answer first. So, do not answer it. Instead, say something like, That’s a tough question. Can you tell me the range for this position? In most cases, the interviewer, taken off guard, will tell you. If not, say that it can depend on the details of the job. Then give a wide range. 


12. Are you a team player?
You are, of course, a team player. Be sure to have examples ready. Specifics that show you often perform for the good of the team rather than for yourself are good evidence of your team attitude. Do not brag, just say it in a matter-of-fact tone. This is a key point.

13. How long would you expect to work for us if hired?
Specifics here are not good. Something like this should work: I’d like it to be a long time. Or As long as we both feel I’m doing a good job. 


14. Have you ever had to fire anyone?
How did you feel about that? This is serious. Do not make light of it or in any way seem like you like to fire people. At the same time, you will do it when it is the right thing to do. When it comes to the organization versus the individual who has created a harmful situation, you will protect the organization. Remember firing is not the same as layoff or reduction in force. 


15. What is your philosophy towards work?
The interviewer is not looking for a long or flowery dissertation here. Do you have strong feelings that the job gets done? Yes. That’s the type of answer that works best here. Short and positive, showing a benefit to the organization. 


16. If you had enough money to retire right now, would you?
Answer yes if you would. But since you need to work, this is the type of work you prefer. Do not say yes if you do not mean it. 


17. Have you ever been asked to leave a position?
If you have not, say no. If you have, be honest, brief and avoid saying negative things about the people or organization involved. 


18. Explain how you would be an asset to this organization ?
You should be anxious for this question. It gives you a chance to highlight your best points as they relate to the position being discussed. Give a little advance thought to this relationship. 


.19. Why should we hire you?
Point out how your assets meet what the organization needs. Do not mention any other candidates to make a comparison.

20. Tell me about a suggestion you have made ?
Have a good one ready. Be sure and use a suggestion that was accepted and was then considered successful. One related to the type of work applied for is a real plus.

21. What irritates you about co-workers?
This is a trap question. Think real hard but fail to come up with anything that irritates you. A short statement that you seem to get along with folks is great.

22. What is your greatest strength?
Numerous answers are good, just stay positive. A few good examples: Your ability to prioritize, Your problem-solving skills, Your ability to work under pressure, Your ability to focus on projects, Your professional expertise, Your leadership skills, Your positive attitude.

23. Tell me about your dream job?
Stay away from a specific job. You cannot win. If you say the job you are contending for is it, you strain credibility. If you say another job is it, you plant the suspicion that you will be dissatisfied with this position if hired. The best is to stay genetic and say something like: A job where I love the work, like the people, can contribute andcan’t wait to get to work.

24. Why do you think you would do well at this job?
Give several reasons and include skills, experience and interest.

25. What are you looking for in a job?
See answer # 23

26. What kind of person would you refuse to work with?
Do not be trivial. It would take disloyalty to the organization, violence or lawbreaking to get you to object. Minor objections will label you as a whiner.

27. What is more important to you: the money or the work?
Money is always important, but the work is the most important. There is no better answer.

28. What would your previous supervisor say your strongest point is?
There are numerous good possibilities: Loyalty, Energy, Positive attitude, Leadership, Team player, Expertise,Initiativ e, Patience, Hard work, Creativity, Problem solver.

29. Tell me about a problem you had with a supervisor?
Biggest trap of all. This is a test to see if you will speak ill of your boss. If you fall for it and tell about a problem with a former boss, you may well below the interview right there. Stay positive and develop a poor memory about any trouble with a supervisor.

30. What has disappointed you about a job?
Don’t get trivial or negative. Safe areas are few but can include: Not enough of a challenge. You were laid off in a reduction Company did not win a contract, which would have given you more responsibility. 


31. Tell me about your ability to work under pressure.
You may say that you thrive under certain types of pressure. Give an example that relates to the type of position applied for. 


32. Do your skills match this job or another job more closely?
Probably this one. Do not give fuel to the suspicion that you may want another job more than this one.

33. What motivates you to do your best on the job?
This is a personal trait that only you can say, but good examples are: Challenge, Achievement, Recognition. 


34. Are you willing to work overtime? Nights? Weekends?
This is up to you. Be totally honest. 


35. How would you know you were successful on this job?
Several ways are good measures: You set high standards for yourself and meet them. Your outcomes are a success. Your boss tell you that you are successful. 


36. Would you be willing to relocate if required?
You should be clear on this with your family prior to the interview if you think there is a chance it may come up. Do not say yes just to get the job if the real answer is no. This can create a lot of problems later on in your career. Be honest at this point and save yourself future grief.

37. Are you willing to put the interests of the organization ahead of your own?
This is a straight loyalty and dedication question. Do not worry about the deep ethical and philosophical implications. Just say yes.

38. Describe your management style?
Try to avoid labels. Some of the more common labels, like progressive, salesman or consensus, can have several meanings or descriptions depending on which management expert you listen to. The situational style is safe, because it says you will manage according to the situation, instead of one size fits all.

39. What have you learned from mistakes on the job?
Here you have to come up with something or you strain credibility. Make it small, well intentioned mistake with a positive lesson learned. An example would be working too far ahead of colleagues on a project and thus throwing coordination off.

40. Do you have any blind spots?
Trick question. If you know about blind spots, they are no longer blind spots. Do not reveal any personal areas of concern here. Let them do their own discovery on your bad points. Do not hand it to them.

41. If you were hiring a person for this job, what would you look for?
Be careful to mention traits that are needed and that you have.

42. Do you think you are overqualified for this position?
Regardless of your qualifications, state that you are very well qualified for the position.

43. How do you propose to compensate for your lack of experience?
First, if you have experience that the interviewer does not know about, bring that up: Then, point out (if true) that you are a hard working quick learner.

44. What qualities do you look for in a boss?
Be generic and positive. Safe qualities are knowledgeable, a sense of humor, fair, loyal to subordinates and holder of high standards. All bosses think they have these traits.

45. Tell me about a time when you helped resolve a dispute ?
between others. Pick a specific incident. Concentrate on your problem solving technique and not the dispute you settled.

46. What position do you prefer on a team working on a project?
Be honest. If you are comfortable in different roles, point that out.

47. Describe your work ethic?
Emphasize benefits to the organization. Things like, determination to get the job done and work hard but enjoy your work are good.

48. What has been your biggest professional disappointment?
Be sure that you refer to something that was beyond your control. Show acceptance and no negative feelings.

49. Tell me about the most fun you have had on the job.
Talk about having fun by accomplishing something for the organization.

50. Do you have any questions for me?
Always have some questions prepared. Questions prepared where you will be an asset to the organization are good. How soon will I be able to be productive? And What type of projects will I be able to assist on? Are examples..?



And Finally ,

“Never take some one for granted,Hold every person Close to your Heart because you might wake up one day and realise that you have lost a diamond while you were too busy collecting stones.” Remember this always in life.

Application for Active the dormant company

To

The Registrar of Companies,

O/o.The Registrar of Companies, ............

Dear Sir,

Sub: - Request for Normalising ‘Dormant’ Company Status to ‘Active’

Ref: - CIN: .................

Our company M/s. ............ was incorporated on...............(in Words and figures) with the main object of carrying on.............(specify business) and is continuing to carry on its business till date.

The Company has duly convened its Annual General Meetings till date. However, the company failed to file its annual report/annual returns with The Registrar of Companies due to oversight.

Hence, the Board of Directors decided to submit a request to The Registrar of Companies, Karnataka, for regularizing its status from ‘Dormant’ to ‘Active’ in the Master Data appearing in the MCA portal www.mca.gov.in. The company hereby files Form 61 alongwith this application and Board Resolution dated .............

Kindly accept our application and do the needful.

Thanking You,

Yours truly,

For ................

............. - Director

Encl: As Above

 

Procedure for registration of charge for securing issue of debentures

1)      File with the concerned ROC within 30 days after the execution of the deed containing the charge or after the executing of any debentures of a series ( if there is no such deed) particulars of the charge created in{ Section 124(4) } .

2)      If there is more than one series of debentures in the series, then file with the ROC particulars of the date and amount of each issue along with the e-form no 10.

3)      If any commission, allowance or discount, has been paid or made either directly or indirectly by company to any person for subscribing or procuring or for agreeing to subscribe or procure any debentures in the issue of a series of debentures, then include in the particulars of the charge to be filed with the ROC also the particulars as to the amount or rate per cent of the commission, discount or allowance paid or made.

4)      File { E form no 10 } with the concerned ROC with the following documents as attachments :-

 

Ø  Copy of the instrument or deed creating or evidencing the charge verified in the prescribed manner or if there is no such deed then one of the debentures of the series.

Ø  Copy of resolution authorising the issue of debenture series.

Ø  Other optional attachments .( Resolution)

5)      Ensure that the e-form is digitally signed by the authorised signatory of the banker along with the authorised signatory of the company (Managing Director or director or secretary) and certified by PCS or PCA.

6)      Make the payment of requisite fees prescribed by the Companies { Schedule X of Companies Act }

7)      The particulars to be mentioned in the e-form No. 10 are :

o   Number of trustee of debenture holders.

o   Name and address of trustee or trustees of debenture holders.

o   Date of creation of charge

o   Whether the charge is for entire series of debentures or any issue in a series of debentures.

o   The total amount secured by the whole series.

o   Date of registration of series.

o   Date of present issue of series

o   Amount of present issue of series.

o   The dates of the resolutions authorising the issue of the series.

o   Description of the property charged.

o   Particulars of the property charged.

o   Particulars of the property charged including location of the property.

o   Brief of the principle terms and conditions including rate of interest, date of redemption and creation of debenture redemption reserve.

o   Extent and operation of the charge.

o   Particulars as to amount or rate per cent of the commission, allowances or discount (if any) paid, or made either directly or indirectly by the company to any person(s) in consideration of their subscribing or agreeing to subscribe, whether absolutely or conditionally, or procuring or agreeing to procure subscriptions, whether absolute or conditional, for any of the debentures included in this return.

NOTE

This section is applicable both to debentures and debenture-stock.

This section provides for filing with the Registrar the particulars specified in clauses (a) to (d) in case of series of debentures entitling holders pari passu. These particulars have to be filed within thirty days of the execution of the deed containing the charge or, if there is no such deed, after the execution of any debentures of the series. These particulars should be filed with the deed (or verified copy thereof) containing the charge, or if there is no such deed, one of the debentures of the series. Where more than one issue is made of debentures in the series, particulars of the date and amount of each issue are required to be filed with the Registrar. However, an omission to do so does not invalidate the debentures issued.

Where debentures are issued creating a charge, it is usual to declare expressly that the charges created by all the debentures of the series are to rank equally and without priority of one over another. If it is not so declared, each debenture creates a charge ranking in priority to all others issued subsequently, but postponed to all issued before it.

If there is a series entitled in one event to rank pari passu, but not in another event, and the Registrar registers the charge under this section and certifies it as a series entitled pari passu, that will not make the series pari passu. But this certificate will be conclusive under section 132 that the requirements of the section as to registration have been complied with. The certificate is also conclusive although some required particulars have not been given to the Registrar or entered on the register. 

Procedure - Registration of charge on the assets of the Company

1)      It must be remembered that ‘charge’ includes a mortgage and it should be filed whether it is created inside or outside India and relates to property situated either inside or outside India  { Section 124 }

2)      Check as to whether your charges fall under any one of the following categories : 

Ø  A charge for the purpose of securing any issue of debentures.

Ø  A charge on uncalled share capital of the company

Ø  A charge on any immovable property, whether situate or any interest therein;

Ø  A charge on any book debts of the company;

Ø  A charge, not being a pledge, on any movable property of the company ;

Ø  A floating charge on the undertaking or any property of the company including stock in trade;

Ø  A charge on calls made but not paid ;  

Ø  A charge on a ship or any share in a ship;

Ø  A charge on goodwill, on a patent or a license under a patent, on a trade mark or on a copyright or a license under a copyright; 

3)      In case the charge falls under any of the categories above, then file particulars of the charge with the concerned (ROC) within 30 days of making the charge in  {E form no 8} with the following attachments.

Ø  Copy of the instrument creating charges.

Ø  Other optional attachments as required. (resolution )

4)      Ensure that the e-form is digitally signed by the authorised signatory of the banker along with the authorised signatory of the company (Managing Director or director or secretary) and certified by PCS or PCA.

5)      Make the payment of requisite fees prescribed by the Companies { Schedule X of the Companies Act }

6)      If due to unavoidable circumstances, it is not possible to file the particulars of the charge within 30 days, then file it latest within 60 days of creating the charge after satisfying the ROC the reason for delay, and after payment of such additional fee for not exceeding ten times the amount of fee specified in {Schedule X}  as the ROC may determine.

7)      Verify the copy of the instrument or deed before its filing, in the following manner :- 

Ø  If the instrument or deed creating the charge relates solely to property situate outside India, by a certificate either under the seal of the company or under the hand of the director or manager or secretary of the company or under the hand of some person interested in the mortgage or charge on behalf of any person other than the company, stating that it is a true copy.

Ø  If the instrument or deed creating the charge relates, whether wholly or partly, to property situate in India, by a certificate of the director, manager or secretary of the company stating that it is a true copy or by a certificate of a public officer given under and in accordance with the provisions of section 76 of the Indian Evidence Act, 1872

8)      In the case of a charge created outside India and comprising solely of property situated outside India, file the particular of the charge in [ E form no 8]  within 30 days after the date on which the instrument creating or evidencing the charge or a copy thereof could, in due course of post and if despatched with due diligence, have been received in India.

 NOTE 
The object or purpose of registration of charges with the Registrar of Companies is public notice; to ensure the means of notice to those who contemplate giving credit to the company. The object of registration is to prevent people advancing money or purchasing in the dark. The registration is provided so that creditors may have some notion of how far the property of the company is unencumbered. This purpose is sought to be achieved by requiring the companies and the Registrars to register the charges in their registers, and make them available to the public for inspection. The registration also has the object of preventing a fraudulent and belated claim of a charge in the event of a company's liquidation. Thus, the object of registration is mainly to give information to future creditors as to the extent of the company's indebtedness and the consequent amount of credit that they can safely give to the company.