Compounding reqd for non-compliance of accounting standard

MCA 791 views 2 replies

Dear Members

Please advice , if there is any non-compliance of Accounting Standard reference to Section 211 (3C), and the same is disclosed in Audit Report , do the company need to go for Compounding under 621A ??

Section 211 states that any deviation from Accounting Standard needs to be disclosed, and the same is taken care in Audit Report, 

Its a Private Limited Company and while proposing for name change ROC Authorities have raised objection on this point and have asked for Compounding.

Is there any exit route apart from Compounding. ??

 

Please advice.

 

regards

Santosh Shah

 

Replies (2)

The offence can only be compounded by application to Regional Director. No other way out.

Originally posted by : SANTOSH SHAH


Dear Members

Please advice , if there is any non-compliance of Accounting Standard reference to Section 211 (3C), and the same is disclosed in Audit Report , do the company need to go for Compounding under 621A ??

Section 211 states that any deviation from Accounting Standard needs to be disclosed, and the same is taken care in Audit Report, 

Its a Private Limited Company and while proposing for name change ROC Authorities have raised objection on this point and have asked for Compounding.

Is there any exit route apart from Compounding. ??  

If compounding is done, that should be backed up by violation of specific section, where as we have not violated any section.

 

Members, Please advice. 

regards

Santosh Shah

 



CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register