Dipika Verma (Company Secretary) (174 Points)
17 May 2011
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 17 May 2011
Dipika-Be Clear on the following point-
1. Sec 209(1)(d)- in case yr co is engaged in production, processing, amnufacturing, mining etc-------u have to maintain cost record as prescribed.
2. Sec 233B-Cost Audit is required only when the CG so orders.
Since u didn't get the order of the CG so far, Cost Audit is not applicable to you. Only u hv to maintain cost record. Sec 209(1)(d) and sec 233B is 2 diff sections and to be read separately.
SANTOSH SHAH
(Company Secretary)
(754 Points)
Replied 17 May 2011
Originally posted by : Dipika Verma | ||
Ours is a Public Company (unlisted).We fall under the Category to Mandatorily appoint Cost Auditor u/s 209(1)(d) and u/s 233B of the Companies Act, 1956. Since it is a newly incorporated company we have not yet received Central government's order vide which we can appoint Cost Auditor. what are the procedures to obtain Central Government's order? |
Hi Dipika
Recently there was a circular issued by MCA -revising the procedure for appointment of COST AUDITOR.
As per revised procedure Central Government Approval would not be required for appoint of Cost Auditor.
Am enclosing the same for your reference. MCA -Circular dated 11.04.2011.
Also find attached the summary of the circular and take a call.
Dipika Verma
(Company Secretary)
(174 Points)
Replied 17 May 2011
Dipika-Be Clear on the following point-
1. Sec 209(1)(d)- in case yr co is engaged in production, processing, amnufacturing, mining etc-------u have to maintain cost record as prescribed.
2. Sec 233B-Cost Audit is required only when the CG so orders.
Since u didn't get the order of the CG so far, Cost Audit is not applicable to you. Only u hv to maintain cost record. Sec 209(1)(d) and sec 233B is 2 diff sections and to be read separately.
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