Shraddha Jani (student CA final) (77 Points)
12 October 2016
Yash Jain
(Partner)
(636 Points)
Replied 21 October 2016
Mnemonic for Caro,2016 is in 3 parts
(i) F I L L your account with Deposit & Cost and utilise to pay statutory dues and dont make default in repayment of loans and borrowings (This covers clause (i) to clause (viii)
(ii)Make a IPO without fraud and pay managerial remuneration (For Clause (ix) to Clause (xi))
(iii) Ask your Secretary NIDHI to comply with related party for preferrrential allotment on non cash basis for registration with RBI
F-Fixed assets
I - Inventories
L - Loans under 189
L - Loans under 185 and 186 (Extract)
Deposit-Compliance with Provisions of deposit
Cost - cost records
Statutory dues - statutory dues
default in repayment on loans and borrowings
IPO - Money raised by ipo used for initial purpose?
fraud - Any fraud committed
Nidhi - Nidhi company complied with ratio
related party - compliance with sec 188 & 177
preference - compliance under sec 42
non cash basis - compliance under sec 192
RBI - required to register with RBI under 45IA
I hope it would make it easy for you to remember till Examination
All the best :)
CAclubindia
