Under the Companies Act 2013, the 'Independent Directors' must hold a special training. If an independent director fails to attend the training, what is the consequence?
A.He is fined ₹50,000
B.He is automatically removed from the board
C.No consequence, as training is optional
D.His appointment is rendered void, and he cannot be appointed as an independent director
Explanation:
As per the Companies (Appointment and Qualification of Directors) Rules, if a person selected as an independent director fails to undergo the prescribed training, their appointment becomes void, and they are ineligible for appointment as an independent director.
S1: A triple column cash book records cash, bank, and discount transactions. S2: A contra entry in a cash book involves both cash and bank columns. Which statement(s) is/are correct?
Explanation:
A triple column cash book has columns for cash, bank, and discount on both sides. A contra entry occurs when transactions involve both cash and bank (e.g., cash deposited into bank), affecting both columns.
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