Hell Everyone,
Here is the situation -
1. Company has issued shares through right issue and they have passed a resolution for that as well & Form PAS- 3 through back date has been filed with late fees. (Date of allotment - 30th March 2021).
2. Above allotment has been done in order to be eligible to get a loan from the bank.
3. However, application money has been received after 4 months of allotment.
4. So the question is how it can be shown in a balance sheet or eventually its treatment.
5. However, there was an option earlier that allotment be done to set off the borrowing of directors but resolution has already been filed for Right issue against the money. So, this can't be done now.
HELLO EVERYONE
IS IT NECESSARY TO INCLUDE ANY KEY AUDIT MATTER IN THE AUDITOR REPORT WHICH IS NEW FORMAT FOR 2019.
IN CASE OF SMALL PRIVATE COMPANIES (SAY 1 LAKH CAPITAL AND 3 LAKHS TURNOVER ), AUDITORS HAVE NOTHING TO SAY MUCH ABOUT AUDIT
KINDLY ADVISE
What are the matters to be stated in a prospectus to be as per SEBI regulations?
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