RBI/DNBR/2016-17/44 Master Direction DNBR.PD.007/03.10.119/2016-17 September 01, 2016 (Updated as on December 29, 2022*) Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 Chapter – I 2. Applicability (4) (iii) Applicable NBFCs having customer interface but not accessing public funds are exempt from the applicability of Chapter IV of the directions.”
From the above, it can be deduced that “a private limited NBFC having NOF Rs. 2.3 Crore as on 31.03.2023 having no Public Fund” does not require to make provision for NPA as per above RBI Circular and clarified in “PresentationonNBFCsICSI_NIRC_18022017 at page 274” that “NBFC-ND with no PF - Provisioning norms - Not Applicable” . ok. No problem upto here.
Now is there any rule or call it by any name in company law/ ACCOUTING STANDARDS/anywhere to make Provision for Debtors or just like NPA, if Yes, in which law etc. and How much percentage of Debtors in above example.
Please guide, Thanks with regards in advance.

Dear Experts,

Can you please share the list of documents to be collected for onboarding a CSR vendor and what are the documents to be collected once payment remitted to the CSR vendor?

Thanks,
Kudire

Hi All,

Can we apply for STK-2 if there is case pending with GST department.

Thanks

Hello everyone,

Need advice for the below

The company is registered few months ago and INC20A filing is not going through, as during the filing the portal throws error, "DIN number entered is not an approved DIN". if we check the Enquire DIN status. It shows DIN status as approved.

Raised a compliant, but no solution yet. There are only few days left out of 180 days deadline for INC20A filing.

Tried filing the DIR KYC in this week, thinking that would resolve the DIN error, even DIR KYC form is not going through, error is showing up. Any suggestions for doing the INC20A filing?

What is the turnover limit of private limited companies for audit trail ? Does audit trail apply to all private limited companies also.

A loan from shareholder of a Private Limited company will be considered as deposit u/s 73?

In view of Ministry of Corporate Affairs vide Notification No. G.S.R.. 583(E) dated 13th June, 2017, Only clauses (a) to (e) of sec 73(2) are exempt.

Does it need to pass SR?
what are the other compliances?
Can't such deposit be repayable on demand or upon receiving a notice within a period of less than six months? Its a short term funding/ convertible into RPS upon notice.

Pl revert asap.
Thanks.

What is the procedure to file provisional statements to roc.

And how to file the financial statements once audited.

Is there any penalty on directors due to this

My DIN is deactivate due to non filing KYC. I want to update it but the otp sent to old mobile number which is not available now.I also tried to file DIR-6 but showing not a valid DIN.As dsc registration not complete, I m unable to file DIR-3KYC. Plz help me..........

A private limited company incorporated in the year 2018, has not appointed first auditors till date. It has also not conducted AGM, nor it has adapted its Financial Statements. Now, my query is how to appoint first auditors and if appointed upto what period will he hold his office. And also, can an auditor be appointed to conduct statutory audits for prior years. If so, kindly provide me with a course of action to be followed for appointment and Filing of Annual Return

As replied by the experts the Articles of association is required to be altered for deletion of common seal clause. But while filling the details online in MGT-14 and thereafter proceeding to E-AOA . Here the E-AOA is the standard one and the AOA which is existing in our records is as per the Companies Act, 2013 with certain additional clauses .

My query is do we have to included those clauses in the E-AOA , which are there in the existing AOA on record?
Do we have to amend the whole AOA as the E-AOA will be the final on record.?
Or else is there any other way for changing the specific clauses as per the existing AOA ?

Kindly reply urgently.