Hello sir ,
1. Under sec 144 , CA is prohibited to provide investment banking and advisory services
but under Management Consultancy Services , investment counselling services can be provided …is this because MCS excludes statutory and periodic Audit?
2. Under sec 144 , CA is prohibited to provide management services…does these mean MCS?
1. If CA is statutory auditor of company then he cannot provide investment advisory and investment banking to same company. CA can provide these services to other companies.
So point is such services as also mentioned in MCS are allowed provided don’t provide audit and such services together to one company.
2. Company Act , 2013 — Uses word Management Services
CA Act 1949, Amended in 2007 — Uses word Management Consultancy Services
Both are different words in different acts at different point of time. They don’t means same.
MCS means long list of services which coveres almost everything.
MS is not defined but generally means managing department, property , unit of company.