Dear members,
Pls tell me, what is the difference b/w Compliance Certificate and Compliance report ?
What is the applicability of making Compliance report ? Kindly mention the relevant section.
A pvt. ltd. co having whole time CS is reqd to make Compliance report ? If yes, kindly forward me the format.
Thanks in adv.
Report :- A Report is a formal statement made after an enquiry or examination of the specified matters under the report and the auditors opinion thereon.
Certifcate :- A certificate is a written confirmation of the accuracy of the facts stated therein and does not involve any estimate or opinion.
642(1) read with proviso to subsection 383(1) of Companies Act 1956 are the relevant provisions.
Refer Companies ( compliance certificate ) rules for answers to other 2 questions posted by you.
You will find the format of report also over there.
This is my view. Expert opinion is welcome.
Wish you all the best in all your endeavours,
With regards,
Thank u sir for the reply.
Also, pls answer my last question,
Is it mandatory for a Whole time CS of pvt. co. to prepare compliance report ?
Please check the paidup capital of your company and apply it vis-a vis the section and proviso.
If it is above 2 crores, then it is not required.
If it is below 2 crores and above 10 lakhs certificate from secretary in whole time practice is required- by virtue of Companies ( compliance certtificate ) rules,
if it is below 10 lakhs -not necessary
This is my view on reading the section 383A in conjunction with the Companies ( Compliance certificate) rules.
For certainity on the issue, experts opinion may be taken.
Meanwhile if i gain clarity on the issue and is firmed up i will update in this post.
Wish you all the best in your endeavours,
With best wishes,
Thanks sir,
The reply you gave above is applicability of Compliance Certificate.... That I already know....The limit is 5 Crores now.
Kindly update me about Compliance Report. Whats its applicability ? Kindly provide me information about Complaince Report.
CAclubindia
