Compounding reqd for non-compliance of accounting standard

SANTOSH SHAH (Company Secretary) (754 Points)

20 March 2012  

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.



Santosh Shah