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Section 70(2) cross-references compliance with sections 92, 123, 127, 129. What does Section 92 cover?
AFiling of Annual Return
BPayment of dividend within 30 days
CFailure to distribute dividend
DPreparation of financial statements
Answer & Solution
Correct answer: A. Filing of Annual Return
1. Step 1: Per Ch 12, Sec 70(2) checks compliance with Sec 92 — Annual Return filing.
2. Step 2: Other referenced sections: 123 (dividend), 127 (failure to distribute), 129 (financial statements).
3. Step 3: Hence (A).
_Source: ICAI BoS CA Inter Paper 1, Ch 12 "Buy-Back of Securities"_