CA Inter Law Important Questions May 2026 Topic-Wise List & ICAI Paper-Based Strategy

The CA Intermediate Corporate and Other Laws paper is one of the most analytical and application-based papers in the syllabus. It doesn’t just test how well you memorize sections; it examines how clearly you understand the legal framework and how logically you can apply it to real-life case scenarios.

As the May 2026 exam approaches, most students start looking for a focused set of important questions to revise. The good news is, ICAI often repeats the same concepts in twisted formats across attempts. If you closely observe the trend in past papers and RTPs, you’ll realize that some chapters and question styles appear regularly.

This article brings you a carefully filtered list of topic-wise important questions, a preparation strategy, and direct links to ICAI’s past papers and mock test resources. Instead of mugging up the entire syllabus again, you can now spend your final month revising smartly.

Understanding How ICAI Frames Law Questions

ICAI doesn’t ask for direct definitions in the law paper. Most questions are application-based and involve case studies, practical situations, or analysis of duties, liabilities, or procedures. 

So, you must know not just the section number but also how to frame the answer using a logical legal structure. Most questions will expect this answer format:

• Relevant provision or section (if any)
• Brief explanation of the concept
• Application to the case or situation
• Conclusion based on reasoning

Even for 4-marker questions, following this approach creates a strong impression and can boost your marks.

Important Topics & Frequently Asked Questions (With ICAI Paper Trends)

Let’s now break down the most important questions chapter-wise. These are based on previous ICAI papers, RTPs, and examiner analysis.

1. Incorporation & Prospectus

This chapter is among the most frequently asked in ICAI law papers. Questions on types of prospectuses, misstatement consequences, and legal procedures under Sections 26–32 are almost guaranteed.

For instance, questions like “What is a red herring prospectus, and how does it differ from a regular prospectus?” or “What remedies are available in case of misstatement in a prospectus?” have appeared multiple times.

Make sure you understand the process of incorporation, legal documentation, and filing procedures under the Companies Act, 2013.

2. Share Capital and Debentures

This chapter covers essential concepts like buyback of shares, reduction of capital, and the rights and liabilities of shareholders and debenture holders. ICAI tends to test the buy-back provisions very often. For example, “Explain the conditions under which a company can buy back its shares under Section 68” is a common question pattern.

Also, understand how the debenture redemption reserve (DRR) is created and what rules apply under SEBI guidelines and the Companies Act.

3. Directors & Board Powers

This is one of the most scoring but detail-heavy topics. Questions around the duties of directors under Section 166, types of resolutions (ordinary vs. special), and rules regarding board meetings often feature in exams.

For example, “What are the statutory duties of a director under the Companies Act?” or “Differentiate between ordinary and special resolution with examples” are classic ICAI-style questions. Learn the rules of remuneration limits, appointment procedures, and disqualification clauses thoroughly.

4. Audit & Accounts of Companies

Here, questions revolve around statutory audit requirements, appointment of auditors, and responsibilities as per various Standards on Auditing (SA). Although the auditing paper covers this in more depth, in the law paper, it appears in a corporate compliance context.

Understand when companies need to appoint auditors, the limits on the number of audits per auditor, and the rights and duties under Sections 139 to 147.

Also, don’t skip “Branch Audit” and “Internal Audit” topics, as they are common 4-mark questions.

5. Companies & LLP Comparison

ICAI likes to ask about the differences between LLPs and private companies. You must know incorporation procedures, liability differences, and tax implications.

Questions such as “List major differences between LLP and private limited company” or “Explain the process of conversion of LLP into a company” appear in alternate attempts. Practice writing crisp comparative answers here.

6. Other Laws—FEMA, Interpretation & Clauses

Questions from the FEMA Act of 1999 focus on export-import regulations, compounding of offenses, and penalties for non-compliance. ICAI asks scenario-based questions like “Mr. A received payment in violation of FEMA norms. What are the possible consequences and remedies?”

The General Clauses Act and Interpretation of Statutes are mostly theory-based but conceptually rich. Expect 4-mark questions testing doctrines like ejusdem generis, noscitur a sociis, and computation of time.