Company Law India: Read latest Company law news & updates, acts, circular, notifications & articles issued by MCA amendment in companies Act 2013. Article on Loans Company formation XBRL, Schedule VI IFRS.
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Product or Activity Group” means the product or activity groups notified vide S.O. 1747(E), dated the 7th August, 2012′
Form-B” means the form of the compliance report and includes Annexure to the compliance report and further includes the data or information required to be filed with the Central Government in the manner prescribed under rule 6 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011.
In exercise of the powers conferred by clause (b) of sub-section (1) of section 642 read with clause (d) of sub-section (1) of section 209 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Cost Accounting Records.
“Form-B” means the form of the compliance report and includes Annexure to the compliance report and further includes the data or information required to be filed with the Central Government in the manner prescribed under rule 6 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011.
Form I-XBRL means the Form prescribed in these rules for filing cost audit report and other documents with the Central Government in the electronic mode and in the manner prescribed under rule 5 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2011
Filing of cost audit report with Central Government.- Every cost auditor or every lead cost auditor on behalf of all the cost auditors of a company, has to file its cost audit report and other documents as required under sub-section (4) of section 233B of the Act, and rules made thereunder with the Central Government using the Extensible Business Reporting Language (XBRL) Taxonomy given in Annexure III
General Circular No.38 /2012 , Dated 23.11.2012 In continuation of General Circular No. 30/2012 dated 28.09.20 12 on the subject cited above, I am directed to say that Due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL) as per new schedule VI (applicable for the accounting year commencing on or after 1.4.2011 ) has been extended upto 24.11.2012 for Companies holding AGM or whose due date for holding AGM is on or after 2 1.09.2012.
On a consideration of the facts on record, it has to be concluded that the appellants have not acted in compliance with the statutory requirements of the director of a company. The director of a company is expected to exercise due care and diligence in the approval of documents brought on the table during Board meetings.
Though Division Bench has specifically made an observation to provide an opportunity to the parties to lead evidence, that has not been complied by the parties. More particularly the petitioner in proving his claims and virtually the claim is made only on the basis of the typed script and no original material is produced and the parties are not at all examined.
Usually financial year of a company consists of 12 months. However, in some cases it may not be so. In case of newly incorporated company, financial statements have to be prepared from the date of incorporation of the company till the year-end date of the financial year which may not be of 12 months. Similarly in case of subsequent change of financial year by the company, the financial year in the year of such change may not necessarily be of 12 months.
