nikhil rathi asked 3 years ago
Sir in CNO 702
Mr Rahul will be guilty naa as per Clause 8 P 1 of the first schedule.
But in solution it is given not guilty
1 Answers
Ravi Staff answered 3 years ago
read note given in CNO 702
Author’s Note
CA Act was amended in 2006. Prior to amendment there were 13 clauses in Part I, Schedule I. One of the clauses specifically prohibited undercutting. But this clause was removed in amendment. So as of now undercutting is allowed. So, in this question even if there is no valid reason for undercutting it will be allowed.
However, ICAI planning to bring the clause relating to undercutting back in future.