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3

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A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. Wh Read More
A Company was incorporated on 9th January, 2015. By default, the Company has closed its financial accounts on 31st March, 2015. What is the remedy available?

Views (2069)
Posted By: Santosh pradhan 8 year(s) ago

2

Answer

Hi Everyone, Kindly address my query. Our Company "Z india limited" is a Indian Public unlisted company having subsidiaries in Read More
Hi Everyone, Kindly address my query. Our Company "Z india limited" is a Indian Public unlisted company having subsidiaries in Indian as well as abroad. The foreign subsidiary i.e. "F Singapore Limited" has further subsidiaries "A india ltd" and "B india limited". Q1. Kindly let me know if foreign company is also required to consolidate the accounts of its subsidiaries. Secondly, the indian subsidiary of Z limited also have further subsidiaries. Kindly let me know the following Q2. standalone accounts of subsidiaries would be combined with holding Company or consolidated accounts would be combined. Kindly help

Views (2278)
Posted By: Haryana 9 year(s) ago

2

Answer

Is it necessary to sign the profit and loss account and Balance Sheet while uploading the form 23AC/23ACA or the same can be uploa Read More
Is it necessary to sign the profit and loss account and Balance Sheet while uploading the form 23AC/23ACA or the same can be uploaded by putting sd/- in the signature? Please clarify. There are various views on this.

Views (2326)
Posted By: Raghu k 10 year(s) ago

2

Answer

Section 212 of the Companies Act,1956 required that Holding Company has to attach certain documents of Subsidiary Companies in the Read More
Section 212 of the Companies Act,1956 required that Holding Company has to attach certain documents of Subsidiary Companies in the Annual Report of Holding Company. There is no corresponding section (to 212 of old Act) in the new Act. However section 129 mandates consolidation of holding- subsidiary –associate company accounts. Whether Holding Company is still required to attach stand alone documents of subsidiary even after consolidation for 2014-15?

Views (3626)
Posted By: Vijay jani 10 year(s) ago

1

Answer

FINANCIAL ACCOUNTS - One Private Limited Company was incorporated in first week of March 2014. The Company is required to close it Read More
FINANCIAL ACCOUNTS - One Private Limited Company was incorporated in first week of March 2014. The Company is required to close its first Financial Accounts Year 31.03.2015 OR 31.03.2014. Please clarify.

Views (1718)
Posted By: Sunil kumar agrawal 9 year(s) ago

1

Answer

A ltd is sole beneficiary of x trust, which is holding 25% of shares of B ltd. Whether A ltd is required to consolidate its accoun Read More
A ltd is sole beneficiary of x trust, which is holding 25% of shares of B ltd. Whether A ltd is required to consolidate its accounts considering accounts of B ltd, being Associate?

Views (2617)
Posted By: Nitesh 9 year(s) ago

1

Answer

Is there any difference in the Schedule iii of companies Act 2013 and Revised schedule vi of the Companies Act, 1956. If yes. What Read More
Is there any difference in the Schedule iii of companies Act 2013 and Revised schedule vi of the Companies Act, 1956. If yes. What are those changes By Vishwas Surana , Intensive Fiscal Services Private Limited

Views (2119)
Posted By: Vivek vijay 11 year(s) ago

1

Answer

One Listed Company has extended its Financial Year by Six months i.e upto 30th September 2013, So under new act its next financia Read More
One Listed Company has extended its Financial Year by Six months i.e upto 30th September 2013, So under new act its next financial year will be from 1st October 2013 to 30th September 2014 or 1st April 2013 to 31st March 2014 or 1st October 2013 to 31st March 2014.

Views (1674)
Posted By: Kaushik d nahar 10 year(s) ago

1

Answer

we hv filed a compounding application under section 220 as some attachment left to be filed at the time of filing of Form-23AC ACA Read More
we hv filed a compounding application under section 220 as some attachment left to be filed at the time of filing of Form-23AC ACA. Now before issuing the report the ROC is asking to make the default good. However as the mca site donot allow refiling of these two forms, we r not able to make the default good. But the ROC is adament and saying he will not issue a report unless the default is made good. can anybody suggest any solution?

Views (1936)
Posted By: Anita 10 year(s) ago

1

Answer

If we apply under the Fast track scheme to strike off the name of a company then is it necessary to file all the pending balance s Read More
If we apply under the Fast track scheme to strike off the name of a company then is it necessary to file all the pending balance sheet & annual return in Form 23AC-ACA & 20B or we can just file the FTE Form with the latest nil balance sheet with

Views (2059)
Posted By: Anita 10 year(s) ago

1

Answer

Hi Deepali, this is regarding yr answer given to my query on compounding application, u said we can file the same under CLSS But e Read More
Hi Deepali, this is regarding yr answer given to my query on compounding application, u said we can file the same under CLSS But even the CLSS does not allow refiling of Form 23AC and ACA. We hv already filed these form in that particular year.The main problem is not fee but is that these two forms cannot be filed again. We evn filed these again in Form-61 but ROC has not accepted the same as default made good.I really dont understand these ridiculous situations you dont allow refiling but u will accept the application only when the forms will be refiled.what should we do. Just because of this the compounding application is pending at roc itself for the last 6 monts. Really dont know what to do?

Views (1793)
Posted By: Anita 10 year(s) ago

1

Answer

An Indian company forms a JV in foreign country with 40% participation. Is it required to be consolidated BS? Read More
An Indian company forms a JV in foreign country with 40% participation. Is it required to be consolidated BS?

Views (2329)
Posted By: Atul kulkarni 9 year(s) ago

1

Answer

The New AOC -4 (Unlisted Companies) is applicable fro Companies having financial year w.e.f 01.04.2014. However, if a Company has Read More
The New AOC -4 (Unlisted Companies) is applicable fro Companies having financial year w.e.f 01.04.2014. However, if a Company has changed financial year and has now 15 months and commences from 01.01.2014 to 31.03.2015, how to file Form-AOC 4? If old version of 23AC,ACA is to be filed, what happens to Form 66 there? Annual Reports are preapared as per CA 2013 and Compliance Certificate is not obtained.? Please clarify.

Views (1934)
Posted By: V. maslekar 9 year(s) ago

1

Answer

Are foreign subsidiary accounts (located in jurisdiction where audit is not mandatory) required to be audited for consolidated A/c Read More
Are foreign subsidiary accounts (located in jurisdiction where audit is not mandatory) required to be audited for consolidated A/c of indian listed holding co.?

Views (1682)
Posted By: Shrenik 9 year(s) ago

1

Answer

Please clarify regarding Consolidation of Accounts for the year ended 31.03.2015. 1) Is Consolidation of accounts required of Fore Read More
Please clarify regarding Consolidation of Accounts for the year ended 31.03.2015. 1) Is Consolidation of accounts required of Foreign Subsidiary? 2) Is Consolidation of accounts required of Foreign fellow Subsidiary also? 3) Is Consolidation of accounts required of Associate company also? An Indian Ltd. Co. have its Wholly owned subsidiary Co. in UK and UK Co. have its Wholly owned subsidiary Co. in USA. Please clarify for consolidation of Financial Statements.

Views (1698)
Posted By: Sunil kumar agrawal 9 year(s) ago

1

Answer

A Company for which both AOC-4 & AOC-4 CFS were required to be filed. Company has mistakenly clicked on "NO" for a checkbox in For Read More
A Company for which both AOC-4 & AOC-4 CFS were required to be filed. Company has mistakenly clicked on "NO" for a checkbox in Form AOC-4 "Whether Consolidated Financial Statement is required to be filed or not?" Now Form AOC-4_CFS is showing a prescrutiny error "Form AOC-4 is not required to be filed for this Company". Is there any way out for this!!!

Views (2526)
Posted By: Ishu 9 year(s) ago

1

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Views (1678)
Posted By: Purushottam lal agrawal 9 year(s) ago

1

Answer

I had made an application for conversion of Pvt. Co. into LLP in the month of March 2014, by submitting the Audited Accounts as of Read More
I had made an application for conversion of Pvt. Co. into LLP in the month of March 2014, by submitting the Audited Accounts as of March 31, 2014, Due to transformation in MCA, the process got delyed and the approval of conversion was received in July 2014, Query is : As the Status is now LLP, MCA is not permitting me to file Annual Accounts of 31/03/2014 when it was a Private Company. Please Guide

Views (2081)
Posted By: Nilay shah 10 year(s) ago

1

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Views (2627)
Posted By: Purushottam lal agrawal 9 year(s) ago

1

Answer

A listed company was filing the return in XBRL mode. The Company is delisted now. Should it continue to file in XBRL Format? Read More
A listed company was filing the return in XBRL mode. The Company is delisted now. Should it continue to file in XBRL Format?

Views (1372)
Posted By: Divakaran suresh 8 year(s) ago

1

Answer

If a company is 100 holding company then whether we fill the detail of consolidated data or stadalone Read More
If a company is 100 holding company then whether we fill the detail of consolidated data or stadalone

Views (1906)
Posted By: Sandeep 8 year(s) ago

1

Answer

Annual filings for the F Y ended 31.03.2016 has already been done prior to its conversion Company into LLP. The company has been c Read More
Annual filings for the F Y ended 31.03.2016 has already been done prior to its conversion Company into LLP. The company has been converted into LLP on 01.12.2016. Now our question is whether Company need to make any filing for the period prior to its conversion into LLP i. e. for the period 01.04.16 to 30.11.16 and if yes, how it will be possible as there does not exist any signatory on MCA portal for the Company after its conversion into LLP.

Views (1261)
Posted By: K g kogata 7 year(s) ago

1

Answer

The Financial Statements are prepared in Indian AS. Some portion of redeemable pref. shares are shown in other equity ( as equity Read More
The Financial Statements are prepared in Indian AS. Some portion of redeemable pref. shares are shown in other equity ( as equity portion of compound financial instrument) and remaining portion in Long term Borrowings(as liability component of compound Financial Instrument). So the query is while preparing MGT-9 to calculate indebtedness whether we have to take the amount of redeemable pref shares shown in Long term borrowings in Secured loans? Even for that matter the amount of indebtedness in MGT-7? What will be the paid up capital of the Company? Only Equity Share Capital

Views (1680)
Posted By: Asheeba pereira 7 year(s) ago

0

Answer

Is it mandatory for a person designated as Deputy CFO of a Company to sign the financial statements? Read More
Is it mandatory for a person designated as Deputy CFO of a Company to sign the financial statements?

Views (1756)
Posted By: Gurpreet kaur 6 year(s) ago

0

Answer

"B'' Company is Associate of "A" company which is a holding company of other companies also. B company is holding 21 % share in C Read More
"B'' Company is Associate of "A" company which is a holding company of other companies also. B company is holding 21 % share in C company. Whether "C" company is required to be consolidated to A Company

Views (1739)
Posted By: Sheejith 3 year(s) ago

0

Answer

Under CA 2013 Consolidation of financial statement for companies having subsidiaries is mandatory. Please let me know if the accou Read More
Under CA 2013 Consolidation of financial statement for companies having subsidiaries is mandatory. Please let me know if the accounts of subsidiary companies are to be annexed to the accounts of the holding company and published? Is it sufficient if consolidated financial statements are published and stand alone accounts of each subsidiary need not be printed and published in the Annual Report.

Views (1795)
Posted By: Chitra 9 year(s) ago

0

Answer

We are not clear as to the Residual value which should be 5% of the Original Cost of the Asset or it should be 5% of the Carrying Read More
We are not clear as to the Residual value which should be 5% of the Original Cost of the Asset or it should be 5% of the Carrying Value of the Asset (WDV). but as per Schedule-II of the Companies Act, 2013 has specified that Residual Value of 5% should be taken on the Original Cost of the Asset only and not Carrying Value. Please give your feedback how to calculate the same.

Views (1296)
Posted By: Chnadravijayshah 9 year(s) ago

0

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Views (2076)
Posted By: Purushottam lal agrawal 9 year(s) ago

0

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Views (2144)
Posted By: Purushottam lal agrawal 9 year(s) ago

0

Answer

whether in case of small company AOC 4 is required to be certified by Professionals Read More
whether in case of small company AOC 4 is required to be certified by Professionals

Views (2362)
Posted By: Purushottam lal agrawal 9 year(s) ago

0

Answer

A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company Read More
A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company for CSR activities. Query: Whether accounts of section 8 company need to be consolidated with promoter company? How to consolidate? Section 8 company prepares I&E account or P&L?

Views (2606)
Posted By: Atul kulkarni 9 year(s) ago

0

Answer

A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company Read More
A public limited company [commercial company] holds 20% equity capital in a Section 8 company, promoted by the same public company for CSR activities. Query: Whether accounts of section 8 company need to be consolidated with promoter company? How to consolidate? Section 8 company prepares I&E account or P&L?

Views (2543)
Posted By: Atul kulkarni 9 year(s) ago

0

Answer

While incorporating details of auditor in Form 23AC- XBRL, membership no. of CA is showing as invalid. Reason being said CA has re Read More
While incorporating details of auditor in Form 23AC- XBRL, membership no. of CA is showing as invalid. Reason being said CA has resigned from CA firm as well as surrendered CA no. on June 30, 14. However, financials signed by her as on Mar 31 2014. Hence as on Mar 31, 14 she was partner of that CA Firm as well as holding CA no. Problem that our Company is facing is that we are unable to file XBRL for which last date is Sep 24, 14. This being our technical problem we addrressed it to MCA and ROC office also.

Views (1797)
Posted By: Bhavita nandu 10 year(s) ago

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