Very well state @juhee jee.
I would like to share the format for CARO-2022
We report that:
As explained to us, inventories have been physically verified during the year by the management at reasonable intervals. No material discrepancy was noticed on physical verification of stocks by the management as compared to book records.
The company has granted loans to ………parties covered in the register maintained under section 189 of the Companies Act, 2013
The terms of arrangement do not stipulate any repayment schedule and the loans are repayable on demand with interest.
Since the term of arrangement do not stipulate any repayment schedule and the loans are repayable on demand, no question of overdue amounts will arise in respect of the loans granted to the parties listed in the register maintained under section 189 of the Act.
Amounts are overdue in respect of above loans. The total amount overdue for more than ninety days is……….and reasonable steps have been taken by the company for recovery of the principal and interest.
Amounts are overdue is respect of above loans. But there is no amounts overdue for more than ninety days. Reasonable steps have been taken by the company for recovery of the principal and interest.
According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has not granted any loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or other parties listed in the register maintained under Section 189 of the Companies Act, 2013. Consequently, the provisions of clauses iii (a), (b) and (c)of the order are not applicable to the Company.
In respect of loans, investments, guarantees, and security, provisions of section 185 and 186 of the Companies Act, 2013 have been complied with.
The company has complied with provisions of section 185
An Indian Pvt Ltd co. engaged in certain services classified under export of services under GST.
The company received advance worth 2cr from an overseas customer in March 2020 in USD in their bank account as advance against the travel-based services to be provided. From March 2020 the international travel ceased so, the company has not provided any services for last two years to the said client.
The issue : How will the above advance be treated under section 73 and Deposit rules.
-Whether it falls under Public Deposit/Loan
-Whereas it's simply a business advance against services to be provided in future but outstanding for more than 365 days.
-What options the company has to not the same be treated as deposit/loan.
Please give resolutions
Procedure to be followed for shifting of registered office within the same Special Economic Zone area. it will be within state compliances or what ?Click here to view / answer Share it on
Share the procedure for registration and other compliances if any needs to be done.Click here to view / answer Share it on
Required drafts formats for First Board Meeting Agenda, Notes of Agenda and Minutes Format.
Please share as per SS-1 & SS-2 Applicability
Company will be considered as Public company since where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company.
Name Change will be effective from the date of COI or EGM ?
Company incorporated in 2019, company does not file INC-20A within 6 months of incorporation and failed to commence its business. MCA Strike Off the company , but my question is directors will be considered as disqualified ?
Presently directors DIN is active and they want to incorporate a new Company , so is it possible ? Please give light on my query
Which sections of the Companies Act applicable or having exemption for NBFC Companies in regard to loan, investment and borrowings ?
share procedure for Conversion of Nidhi company to Private Limited
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
As per amendment notification dated 15th September 2022:
The definition of small company has been amended. The amended definition provides that "Small Company means a company having paid up share capital upto 4 crore and turnover upto 40 crore.
The above said notification clearly specified that it shall have effect from the date of their publication of this notification in the Official Gazette i.e. 15th September 2022.
Therefore, in my view the same would be the effective date CARO 2020. Hence, the Audit Reports to be prepared after the said amendment would have effect of the amendment.