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MCA Notification GSR 390(E) of 9th June 2014 has the effect of restoring the position under old Sec 383A in respect of companies with paidup capital of over Rs 5 crores. However the old section also said that other companies with lower capital base should get a compliance certificate from a PCS which shall be appended to the directors report mentioned in Sec 217 of the old Act. The new Act is silent on this class po companies. Is it correct to assume that the certificatee is not required for FY 14 as well as subsequent years.

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Posted By: K gopalan 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

Yes, no such certificate is required under the new Act

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