Shridhi Jain (Company Secretary) 05 January 2011
Wat is the procedure for change of financial year of a pvt. ltd co from 12 months to 15 months ?
Only a BR is enough ? As per section 210(4), permission of Registrar is reqd wen the period is extended up to 18 month.
Do we need to inform Registrar ( as permission is not reqd ) for such a change ? Also tell me the relevant rule n regulation where the same is mentioned clearly.
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nidhigoel89 (Company Secretary ) 05 January 2011
I dnt think so there is any prescribed procedure laid down in Co. Act for change in financial year.....as correctly pointed out by u there is jst a restriction given in sec 210 (4) that in case of financial year is extended by upto18 mnths then approval of registrar is required.........in ur case i think jst a BR and further intimation to ROC is sufficient....................
Others views are solicited.........
Bela Thakkar (CS) 05 January 2011
In case of change in financial year of the Listed Company, How to go about filing the same with BSE and ROC. Should it be 9 months audited balancesheet? Kindly guide me with the practically of the same.
Jaideep (Service) 06 January 2011
No permission required upto 15months. Board Resolution is sufficient fir the purpose. However, Board should pass the necessary resolution before the end of financial year. Also, accordingly take Compliace Certificate, if applicable, for the financial year of 15-months.
For, Listed company, Company needs to intimate board decision for extension to stock-exchange as above i.e. before financial year / quarter ends. Rest of the provision will remain same and follow provisions of listing agreement for 15-months account.
Shridhi Jain (Company Secretary) 06 January 2011
Thanks to all of you for your kind reply.
I think in my case, compliance certificate is not applicable as its paid up capital exceeds Rs.5 crore and is employing whole time CS.