Section 129(3) mandates consolidation for all companies (including SMCs) subject to Rule 6 of Companies (Accounts) Rules, 2014, whose proviso states that
“in case of a company covered under sub-section (3) of section 129 which is not required to prepare consolidated financial statements under the Accounting Standards, it shall be sufficient if the company complies with provisions on consolidated financial statements provided in Schedule III of the Act.”

AS 21 is not applicable to SMCs.

In light of the above, kindly clarify whether consolidation would be applicable in case of SMCs, having regard to the exemption provided under the Rules.

SECTION 62 (2) OF CA 2013 PROVIDES THAT (2) The notice referred to in sub-clause (i) of clause (a) of sub-section (1) shall be despatched through registered post or speed post or through electronic mode to all the existing shareholders at least three days before the opening of the issue.

But the exemptions given to pvt companies provides that Provided that
notwithstanding anything
contained in this sub-clause
and sub section (2) of this
section, in case ninety per
cent. of the members of a
private company have given
their consent in writing or in electronic mode, the periods lesser than those
specified in the said sub clause
or sub-section shall apply.

whether it means that offer letter can be give through hand delivery?

Dear Expert,
PLs Clarify that What is the Ceiling Limit of Auditor as per Companies Act 2013 & ICAI and impact of Notification issued by MCA on 05.06.2015.

Kindly let me which class of companies are required to have Risk Management policy as per Companies Act, 2013?

Seek ane advise on the following matter:

a. If wdv of an asset as on 1/4/14 is lower than residual value and useful life has expired as defined in sch II, whether to recognise the balance wdv as residual value or write off the asset fully.

b. In the above case, if the useful life is expiring in 14-15, what should be the treatment.

Dear Expert,

Plz tell me when postal ballot is required and when evoting.. I have gone through the rule and act like Rule 20, 22(16) and section 107 108 109 but i want to know whether same matter can be done through postal ballot and e voting or there is a line of difference about which way need to be used. According to me, same matter can be transacted through e voting as well postal ballot, now company has to choose which way to follow. Am i right??

Thanks in advance.

cost of assets Rs.8223/-

remaining life of assets is nil as per schedule 2 of companies act 2013.

WDV as at 31/03/2014 is Rs.121/-

what is the treatment of above in books

The company is following WDV method as per CA,56 but not as per as per CA,13 it depreciation has to be based on useful lives which is SLM method. Now as per AS-6 when method of calculating depreciation changes it has to be re-computed from the beginning. But as per Companies Rules only WDV on 1.4.14 has to be depreciated over remaining useful lives . So what will prevail AS or CA,13 ??

A director in a newly incorporated nidhi company has been appointed. But he is not subscribing its shares. Is there any provision to remove him from the Company...???

Thanks in advance.

B Pvt Ltd -paidup share capital-60cr, Turnover -140cr,borrowings-60cr. B pvt ltd is a subsidiary of A Ltd which is listed company ,then what is the consequence under the 138 of the companies Act 2013