Mumbai: A question paper from the ongoing Chartered Accounts (CA) examinations has stirred up a fresh controversy by using “NaMo” and “RaGa”, the abbreviated names of two of the country’s most notable political figures.
Students answering the Advanced Accounting question paper on June 6, were asked about the balance sheets of two companies going in for a merger- Namo Ltd and Raga Ltd.
The question read: “All the bills receivable held by Raga Ltd were Namo Ltd’s acceptances. On April 1, 2011, Namo Ltd took over Raga Ltd in an amalgamation in the nature of merger. It was agreed that in the discharge of consideration for the business, Namo Ltd would allot three fully paid equity shares of Rs 10 each at par for every two shares held in Raga Ltd. It was also agreed that 12 per cent debentures in Raga Ltd would be converted into 13 per cent debentures in Namo Ltd of the same amount and denomination. Pass journal entries in the books of Namo Ltd and Prepare Namo Ltd balance sheet.”
A student who answered the paper said that, apart from the names of the companies, the question was quite normal.
While some made fun of the question paper on social media, some others saw a more sinister shade to the incident as the Institute of Chartered Accountants of India (ICAI), the body that conducts these examinations, is independent and is not politically inclined.
Taking objection to the question, the Congress party said it was politically motivated. Congress spokesperson Sachi Sawant said that the political agenda is clear andb that they condemn it. ” Educational institutes should be free from politics. There was no need to enter political names in the paper,” he said.
The BJP has also objected to the question with party spokesperson Keshav Upadhye saying that the ICAI should address the issue.
Member of the examination committee of ICAI, Dugesh Kabra clarified that the names were not introduced deliberately. “We do not have any political affiliations. The ICAI was formed under the Parliament Act.,” he said, adding that it would be difficult to pinpoint who put the question in as the question paper goes through multiple layers.
