Hi Experts and friends,
I am doing ROC Search report of a private company.
As per portal, there exist no records in the index of charges of the company.
This company has done annual filing only upto 31.03.2007.
As per that balance sheets up to 31.03.2007 also, there are no secured loans outstanding.
Now, I am of the opinion that we should state that
No Charges exist for the Company as per the Index of Charges available at the online portal of the Ministry of Corporate Affairs
No documents exist for the category of Charge Documents.
and say in the last para that
As per the Balance sheet filed by the Company for the year ended 31.03.2007 with the Registrar of Companies, there are no secured loans outstanding. The Financial Statements for the years ended on 31.03.2008, 31.03.2009 and 31.03.2010 were not available at the online portal of the Ministry of Corporate Affairs.
BUT
My boss is saying that we have to look at the audited statements for 2008-09 with the company and then give search certificate.
This has not been filed with ROC, and we have to take a leap of faith that this is a genuine balance sheet.
MY QUERY
Isn't the whole concept of ROC search, restricted to what could be verified from MCA?
When certifying, why rely on a balance sheet which has not been filed with the ROC?
How to ensure its genuineness without probing into the minutes book etc? (minutes book is not likely to be available)
Please revert to me.
Thanks and regards.
CAclubindia
