For this Financial Year whether Compliance Certificate will be applicable or not?
CS GK Murty
(Company Secretary)
(225 Points)
Replied 02 July 2014
Yes, Compliance Certificate is required for the specified companies for the financial year ending 31.03.2014.
MCA has vide General Circular 08/2014 dated 04.04.2014 clarified that the financial statements (and documents required to be attached thereto), auditors report and Board’s report in respect of financial years that commenced earlier than 1st April, 2014 shall be governed by the relevant provisions/ Schedules/ rules of the Companies Act, 1956 and that in respect of financial years commencing on or after 1st April, 2014, the provisions of the new Act shall apply. As the compliance certificate forms part of the Board’s Report it shall be filed and attached with the Board’s Report for the year financial year 2013-14.
CS DANISH
(PCS)
(24 Points)
Replied 01 January 2015
The Compliance Certificate is not required for the financial year ending on 31.03.2014.
The Particular Circular is not applicable to Compliance Certificate as its talks about Board's Report only. Section 383A is not applicable anymore so the Compliance Certificate is not an annexure to Board's Report ...
Please Refer section 383A and 217 of the Companies Act 1956 for the same..
CS GK Murty
(Company Secretary)
(225 Points)
Replied 01 January 2015
Compliance certificate forms part (addendum) of Directors' Report as per section 217(3) of Old Act. Yes, for the financial year beginning on and from 01.04.2014, it is no more required.
CS DANISH
(PCS)
(24 Points)
Replied 02 January 2015
Section 217(3) is silent about Compliance Certificate.....its talks about Auditors Report only..And the same is discussed in Section 383A...
Hence the Compliance Certificate is not required for the financial year 2013-14
CAclubindia
