Form for Annual return by a foreign Company: within 60 days from the end of accounting year of the Company (e.g if the same is calender year then within Feb of next year )
Final accounts in Form 52 within 9 months from the end of accounting year.
26 August 2012
Liasion OFfice since 2007,now asked for Worlds Accounts for 31.03.2012
Detailed Querries Dear Sir/ Madam, This is to inform you that in term of the provisions under Regulation 17 of the Companies Regulations, 1956, the above-cited Form52 dated 17-08-2012 filed by XYZ SYSTEM CO.LTD vide SRN A56462148 has been examined and marked as Pending for user clarification with the following remarks- file world accounts for the same period
27 August 2012
Foreign Company's Final account should be filed along with local accounts for Branch office (if there is any ). So please file the accounts for related accounting year for the company which is Registered in India as Foreign company.
27 August 2012
This is the Liasion Office not branch since 2007, & we are filling Only Indian Annual Accounts & Activity Certificate, ROC never demanded such worlds Accounts from us and no any requirement given in the form 52 and any type of attachement.
27 August 2012
While looking for the requirement under Companies Act I have found the reference of the following notification. If you can find the notification then it would solve your problem. "GSR No. 580(E) dated 6.10.1997 issued by the Ministry of Finance, Department of Company Affairs vide Folio No. 3/9/1997 – CLV for Foreign Companies having only liaison office(s) in India and not carrying out any activity of commercial nature. In such cases the companies have to file the following:
A copy of the approval letter issued by Reserve Bank of India. A statement of Receipts and Payments and Balance Sheet duly signed by the Principal Officer and a Chartered Accountant practicing in India. A certificate by the Principal Officer and a Chartered Accountant practicing in India tha t the Liaison Office did not undertake any activity of trading, manufacturing or commercial nature. In case of a private limited company, no person other than a member shall be allowed to inspect the Profit and Loss Accounts of the Indian business as well as that of the parent company."
We are just looking to know that ROC why is demanding worlds accounts where it is required to file by Liasion office. Although RBI not required worlds accounts as LO is Cost Centre incurring Expenses for marteking only nothing to earn from here.
CAclubindia
