| ANNOUNCEMENT1 APPLICABILITY OF THE PROVISIONS OF SECTION 143(12) OF THE COMPANIES ACT 2013 AND THE RELATED RULES TO PERIODS BEGINNING ON OR BEFORE 31ST MARCH 2014 |
Section 143(12) of the Companies Act 2013 requires the auditors of the companies to report to the Central Government on the frauds committed or being committed against the company.
The Council of the Institute of Chartered Accountants of India, at its adjourned 333rd meeting held on 18th June 2014, considered the issue of applicability of the provisions of sections 143(3)(12) of the Companies Act 2013 and the related Rules to the audits of the periods beginning on or before 31st March 2014. The Council noted that the sections 143(12) had come into force in respect of financial years beginning on or after 1st April 2014. The Council was of the view that the provisions of sections 143(12) of the Companies Act 2013 applied to the auditors appointed under the Companies Act 2013 to audit the financial statements for the year beginning on or after 1st April 2014. As a corollary, the requirements of these sections and related Rules would not apply to audits of financial statements of the periods beginning on or before 31st March 2014, even if the audits therefor were actually carried out and auditor's report thereon issued on or after 1st April 2014. |
_________________________
1 This Announcement has been issued by the President, ICAI under the authority of the Council of the Institute of Chartered Accountants of India. |
Showing posts with label Companies Laws. Show all posts
Showing posts with label Companies Laws. Show all posts
Wednesday, June 25, 2014
Announcement on Applicability of the Provisions of Section 143(12) of the Companies Act 2013 and the Related Rules to Periods beginning on or before 31st March 2014
Friday, April 8, 2011
Easy Exit Scheme - January 2011
Ministry of Corporate Affairs has decided to introduce a Scheme namely, "Easy Exit Scheme, 2011" under Section 560 of the Companies Act, 1956 to give an opportunity to the defunct companies, for getting their names struck off from the Register of Companies again.
The scheme will be in operation from 1st January, 2011 to 31st January, 2011 with filing fees of Rs. 3000/-.
Link for all details of the scheme:
https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B-0hzoMM8_XZZjNlYjdiOTYtZmZjMS00YzQ3LWJkYmQtZjQ2ODRjYTljY2Yz&hl=en
The scheme will be in operation from 1st January, 2011 to 31st January, 2011 with filing fees of Rs. 3000/-.
Link for all details of the scheme:
https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B-0hzoMM8_XZZjNlYjdiOTYtZmZjMS00YzQ3LWJkYmQtZjQ2ODRjYTljY2Yz&hl=en
Amendment in Forms DIN-1 and DIN-3
Companies Act
Rules/Amendment Rules
Companies (Director Identification Number) Rules, 2006 (Amendment) 2010 -
Amendment in Forms DIN-1 and DIN-3
NOTIFICATION NO. GSR 849(E), DATED 15-10-2010
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 read with sections 266A, 266B and 266E of the Companies Act, 1956 (1 of 1956) the Central Government hereby makes the following rules further to amend the Companies (Director Identification Number) Rules 2006, namely :—
1. (1) These rules may be called the Companies (Director Identification Number) Rules 2006, (Amendment), 2010.
(2) These rules shall come into force on the 5th day of December, 2010.
2. In the Companies (Director Identification Number) Rules 2006 :—
(i) in Form DIN-1, in the declaration, at the bottom of serial number 14, the following declarations shall be inserted namely :—
“I also confirm that I am not restrained/disqualified/removed of, for being appointed as Director of a company under the provisions of the Companies Act. 1956 including sections 203, 274 and 388E of the said Act.
I further confirm that I have not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court.”
(ii) in Form DIN-3, under Verification, the following Verifications shall be added namely :—
“It is hereby confirmed that the appointed Director(s) whose particulars are given above, has given declaration to the company that he/she is not restrained/disqualified/removed of, for being appointed as Director of a company under the provisions of the Companies Act, 1956 including sections 203, 274 and 388E of the said Act.
It is also confirmed that the appointed Director(s) whose particulars are given above. has given a declaration to the company that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court.”
Rules/Amendment Rules
Companies (Director Identification Number) Rules, 2006 (Amendment) 2010 -
Amendment in Forms DIN-1 and DIN-3
NOTIFICATION NO. GSR 849(E), DATED 15-10-2010
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 read with sections 266A, 266B and 266E of the Companies Act, 1956 (1 of 1956) the Central Government hereby makes the following rules further to amend the Companies (Director Identification Number) Rules 2006, namely :—
1. (1) These rules may be called the Companies (Director Identification Number) Rules 2006, (Amendment), 2010.
(2) These rules shall come into force on the 5th day of December, 2010.
2. In the Companies (Director Identification Number) Rules 2006 :—
(i) in Form DIN-1, in the declaration, at the bottom of serial number 14, the following declarations shall be inserted namely :—
“I also confirm that I am not restrained/disqualified/removed of, for being appointed as Director of a company under the provisions of the Companies Act. 1956 including sections 203, 274 and 388E of the said Act.
I further confirm that I have not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court.”
(ii) in Form DIN-3, under Verification, the following Verifications shall be added namely :—
“It is hereby confirmed that the appointed Director(s) whose particulars are given above, has given declaration to the company that he/she is not restrained/disqualified/removed of, for being appointed as Director of a company under the provisions of the Companies Act, 1956 including sections 203, 274 and 388E of the said Act.
It is also confirmed that the appointed Director(s) whose particulars are given above. has given a declaration to the company that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court.”
MCA Additional filing fees - INCREASE
It has been decided to revise the additional fees payable as per Section 611(2) of the Companies Act, 1956 (except for Form 5) as per below details with effect from 5th December 2010 :-
| Period of Delay | Fixed rate of additional fee |
| Upto 30 days | Two times of normal filing fee |
| More than 30 days and upto 60 days | Four times of normal filing fee |
| More than 60 days and upto 90 days | Six times of normal filing fee |
| More than 90 days | Nine times of normal filing fee |
Amendment to Form No. 1
COMPANIES ACT
RULES/AMENDMENT RULES
Companies (Central Government’s) General Rules and Forms (Third Amendment), 2010 - Amendment in Annexure ‘A’
Notification No. G.S.R. 848(E), dated 15-10-2010 issued by Ministry of Corporate Affairs
In exercise of the powers conferred by sub-section (1) of section 642 read with section 61OB of the Companies Act, 1956, the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956, namely:—
1. (1) These rules may be called the Companies (Central Government's) General Rules and Forms (Third Amendment), 2010.
(2) These rules shall come into force on the 5th day of December, 2010.
2. In the Companies (Central Government's) General Rules and Forms; 1956, in Annexurer ‘A’,—
(i) in Form No. 1,—
(a) in serial number 8, under the heading, Particulars of Promoters (first subscribers to the MOA), at the bottom after the entry Name of the company, the following shall be inserted, namely:—
"Whether the subscriber has been convicted by any court for any offence involving moral turpitude or economic or criminal offences or for any offences in connection with the promotion, formation or management of a company Yes No If yes, provide details."
(b) in Declaration, after serial number (vi), the following Declarations as serial numbers (vii and viii) shall be inserted, namely:—
"(vii) That the subscribers have given declaration of details of his/her conviction by any court for any offences involving moral turpitude or economic or criminal offence or for any offences in connection with the promotion, formation or management of a company;
(viii) That the subscribers have given declaration that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court."
(ii) In Form No. 32, —
(a) in Verification I, after serial number 3, the following Verification as serial number 4, shall be inserted namely:—
"4. It is also confirmed that the appointed director (s) whose particulars are given above, has given a declaration to the company that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court."
RULES/AMENDMENT RULES
Companies (Central Government’s) General Rules and Forms (Third Amendment), 2010 - Amendment in Annexure ‘A’
Notification No. G.S.R. 848(E), dated 15-10-2010 issued by Ministry of Corporate Affairs
In exercise of the powers conferred by sub-section (1) of section 642 read with section 61OB of the Companies Act, 1956, the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956, namely:—
1. (1) These rules may be called the Companies (Central Government's) General Rules and Forms (Third Amendment), 2010.
(2) These rules shall come into force on the 5th day of December, 2010.
2. In the Companies (Central Government's) General Rules and Forms; 1956, in Annexurer ‘A’,—
(i) in Form No. 1,—
(a) in serial number 8, under the heading, Particulars of Promoters (first subscribers to the MOA), at the bottom after the entry Name of the company, the following shall be inserted, namely:—
"Whether the subscriber has been convicted by any court for any offence involving moral turpitude or economic or criminal offences or for any offences in connection with the promotion, formation or management of a company Yes No If yes, provide details."
(b) in Declaration, after serial number (vi), the following Declarations as serial numbers (vii and viii) shall be inserted, namely:—
"(vii) That the subscribers have given declaration of details of his/her conviction by any court for any offences involving moral turpitude or economic or criminal offence or for any offences in connection with the promotion, formation or management of a company;
(viii) That the subscribers have given declaration that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court."
(ii) In Form No. 32, —
(a) in Verification I, after serial number 3, the following Verification as serial number 4, shall be inserted namely:—
"4. It is also confirmed that the appointed director (s) whose particulars are given above, has given a declaration to the company that he/she has not been declared as proclaimed offender by any Economic Offence Court or Judicial Magistrate Court or High Court or any other Court."
Saturday, September 11, 2010
Important notification relating to filing of Balancesheet and Annual Return in MCA 21 portal
MINISTRY OF CORPORATE AFFAIRS
GOVERNMENT OF INDIA
DEAR CORPORATES,
TO AVOID LAST MINUTE RUSH AND SYSTEM CONGESTION IN MCA21 DUE TO HEAVY FILING IN LAST 10 DAYS OF THE MONTHS OF OCTOBER AND NOVEMBER 2010, IT IS REQUESTED THAT FILING OF ANNUAL RETURN AND BALANCE SHEET MAY BE DONE IN THE FOLLOWING ORDER:-
| Company Names starting with | Sep-10 | Oct-10 | Nov-10 |
| Alphabets A to D | All days | 1 to5 | 1 to5 |
| Alphabets E to K | do | 6 to 10 | 6 to 10 |
| Alphabets L to Q | do | 11 to 15 | 11 to 15 |
| Alphabets R & S | do | 16 to 20 | 16 to 20 |
| Alphabets T to Z | do | 21 to 25 | 21 to 25 |
| Remaining/ Left out companies | do | 26 to 31 | 26 to 30 |
YOU ARE REQUESTED TO PLAN YOUR ANNUAL GENERAL MEETING AND FILING ACCORDINGLY.
Change in DSC Registration Procedure
Change in procedure for registration of Digital Signature Certificate (effective from 17/08/2010) and FAQs
Direct Download Link :
https://docs.google.com/leaf?id=0B-0hzoMM8_XZZmUwMzIzYzQtODYzMS00OTU1LWI2ZTYtMzk3N2Q1OWM4ZGYx&sort=name&layout=list&num=50
Source Link :
https://incometaxindiaefiling.gov.in/portal/downloads10-11/itr/Procedure%20for%20Registration%20of%20Digital%20Signature%20and%20Upload%20of%20Income%20Tax%20Returns%20using%20Digital%20Signature.pdf
Direct Download Link :
https://docs.google.com/leaf?id=0B-0hzoMM8_XZZmUwMzIzYzQtODYzMS00OTU1LWI2ZTYtMzk3N2Q1OWM4ZGYx&sort=name&layout=list&num=50
Source Link :
https://incometaxindiaefiling.gov.in/portal/downloads10-11/itr/Procedure%20for%20Registration%20of%20Digital%20Signature%20and%20Upload%20of%20Income%20Tax%20Returns%20using%20Digital%20Signature.pdf
NEW FORMS - MCA
NEW VERSION OF FOLLOWING FORMS TO BE INTRODUCED BY THE MINISTRY OF CORPORATE AFFAIRS
* New version of Form 1, Form 1AA, Form 4, Form 4C, Form 15, Form 20A,Form 20B, Form 22, Form 22B, Form 23, Form 23AA, Form 25C, Form 44,Form 49, Form 52, Form 61, Form DD-B, Form I- Cost Audit Report and
Form 67 will be available on the Portal, effective 1st August, 2010.Therefore please be informed the clients to use new version w.e.f. 1st August,2010 (6.00 AM) as the current version of these forms will be discontinued.
Make sure to upload your old version forms (already filled by you) on or before 31.07.2010.
Courtesy :
CA.S.Ramamoorthy
Madurai
* New version of Form 1, Form 1AA, Form 4, Form 4C, Form 15, Form 20A,Form 20B, Form 22, Form 22B, Form 23, Form 23AA, Form 25C, Form 44,Form 49, Form 52, Form 61, Form DD-B, Form I- Cost Audit Report and
Form 67 will be available on the Portal, effective 1st August, 2010.Therefore please be informed the clients to use new version w.e.f. 1st August,2010 (6.00 AM) as the current version of these forms will be discontinued.
Make sure to upload your old version forms (already filled by you) on or before 31.07.2010.
Courtesy :
CA.S.Ramamoorthy
Madurai
Thursday, September 9, 2010
E-Learning Module on Corporate Governance
Press Information Bureau
Government of India
Ministry of Corporate Affairs
Shri Salman Khurshid to launch an E-Learning Module on Corporate Governance
Shri Salman Khurshid, Minister of Corporate Affairs, will launch here tomorrow evening(25-Aug-2010) an e-learning module on Corporate Governance: Voluntary Guidelines 2009. It will be a joint effort of the Ministry of Corporate Affairs and Dun & Bradstreet India. The Voluntary Guidelines issued by the Ministry are intended to be adopted by the Corporates so that by virtue of Good Corporate Governance they not only enhance their value but also gain stakeholders’ trust thereby leading to robust development of capital market, economy of the country and also help in the evolution of a vibrant and constructive shareholders’ activism. By adopting these Voluntary Guidelines, Indian Corporates can set global benchmark for good Corporate Governance. The e-learning module being launched will present these Guidelines in a more interesting, explanatory and interactive way.
Shri R. Bandyopadhyay, Secretary Ministry of Corporate Affairs, will also be present. Representatives from a number of leading companies will also grace the occasion.
-----------------------------------
CORPORATE GUIDELINES VOLUNTARY GUIDELINES 2009
LINK UPDATE for E-Learning Module on Corporate Governance :
http://www.dnb.co.in/emodule/Index.html
File download (PDF Format)
http://www.dnb.co.in/emodule/refrence/Corporate_Governance_Voluntary_Guidelines_2009.pdf
KKP/ska
Government of India
Ministry of Corporate Affairs
Shri Salman Khurshid to launch an E-Learning Module on Corporate Governance
Shri Salman Khurshid, Minister of Corporate Affairs, will launch here tomorrow evening(25-Aug-2010) an e-learning module on Corporate Governance: Voluntary Guidelines 2009. It will be a joint effort of the Ministry of Corporate Affairs and Dun & Bradstreet India. The Voluntary Guidelines issued by the Ministry are intended to be adopted by the Corporates so that by virtue of Good Corporate Governance they not only enhance their value but also gain stakeholders’ trust thereby leading to robust development of capital market, economy of the country and also help in the evolution of a vibrant and constructive shareholders’ activism. By adopting these Voluntary Guidelines, Indian Corporates can set global benchmark for good Corporate Governance. The e-learning module being launched will present these Guidelines in a more interesting, explanatory and interactive way.
Shri R. Bandyopadhyay, Secretary Ministry of Corporate Affairs, will also be present. Representatives from a number of leading companies will also grace the occasion.
-----------------------------------
CORPORATE GUIDELINES VOLUNTARY GUIDELINES 2009
LINK UPDATE for E-Learning Module on Corporate Governance :
http://www.dnb.co.in/emodule/Index.html
File download (PDF Format)
http://www.dnb.co.in/emodule/refrence/Corporate_Governance_Voluntary_Guidelines_2009.pdf
KKP/ska
Subscribe to:
Posts (Atom)