CMA Final · June 2026 · Paper 13
CMA Final Corporate and Economic Laws June 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICMAI; read them on ICMAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 2(a) | 7 | Statutory provisions on declaration and payment of dividend | Dividends |
| 2(b) | 7 | Restrictions on key managerial personnel holding office in more than one company | Board of Directors and Key Managerial Personnel |
| 3(a) | 7 | Validity of a shareholder's proposal to appoint a director in different company situations | Board of Directors and Key Managerial Personnel |
| 3(b) | 7 | Appointment of first and subsequent auditors, tenure, rotation and disqualifications | Accounts and Audit |
| 4(a) | 7 | Conversion of a private company into a public company and procedural requirements | Company Formation and Conversion |
| 4(b) | 7 | Compromise and arrangement schemes: approval procedure, Tribunal role, filing and implementation | Compromises, Arrangements and Amalgamations |
| 5(a) | 7 | Board's report: preparation, contents, authentication of financial statements and filing | Accounts and Audit |
| 5(b) | 7 | Initiation of corporate insolvency resolution by financial creditors, resolution professional's duties and plan approval | Insolvency and Bankruptcy Code, 2016 |
| 6(a) | 7 | Applicability of the CSR committee requirement and its core functions | Corporate Governance and Social Responsibility and Sustainability |
| 6(b) | 7 | Cyber offences such as identity theft and impersonation, adjudication and penalties under the IT law | Laws and Regulations related to Cyber Security and Data Privacy |
| 7(a) | 7 | Insider trading rules on communicating unpublished price sensitive information and trading by insiders | SEBI Laws and Regulations |
| 7(b) | 7 | FDI framework under FEMA: entry routes, sectoral caps and reporting requirements | Foreign Exchange Management Act, 1999 |
| 8(a) | 7 | Objectives of competition law and the Commission's role against anti-competitive agreements and dominance abuse | The Competition Act, 2002 |
| 8(b) | 7 | Enforcement of security interest by secured creditors without court intervention under SARFAESI | Laws and Regulations related to Banking Sector |
What stood out
- The MCQ section opened with a four-question case study on a single company before eleven independent MCQs, a format worth practising.
- Company law took eight of the fourteen written parts, with dividends, directors and KMP, auditors, conversion, arrangements, board's report and CSR all represented.
- Economic laws (IBC, IT Act, SEBI insider trading, FEMA, Competition Act, SARFAESI) each had one 7-mark part, so every economic law needs at least a summary-level preparation.
- Almost every written part was a statement-of-provisions question; only two were framed as situations to evaluate.
- Questions explicitly asked for procedure, role of the Tribunal and filing requirements, so answers organised by step and section are likely to score better.
Practise the chapters that carried the marks
Accounts and Audit, Board of Directors and Key Managerial Personnel, Company Formation and Conversion: study guides and practice questions in the CMA Final format.