Alterations in Schedule VI under powers conferred by sub-section (1) of section 641 of the Companies Act, 1956.

Government of India

Ministry of Finance and Company Affairs

(Department of Company Affairs)

NOTIFICATION

New Delhi, the 1st August, 2002

G.S.R.545(E). – In exercise of the powers conferred by sub-section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further alterations in Schedule VI to the said Act, namely :-

1.In the said Schedule, in Part-I, under the heading “B.VERTICAL FORM”, in the Notes at the end, for para 3, the following shall be substituted, namely:-

“3. The figures in the balance sheet may be rounded off as under:-

Where the turnover of the company in any financial year is: Round off permissible:
(i)   less than one hundred crore

rupees

to the nearest hundreds or thousands, or decimals thereof.
(ii) one hundred crore rupees or more but less than five hundred crore rupees to the nearest hundreds, thousands, lakhs or millions, or decimals thereof.
(iii) five hundred crore rupees or

more

to the nearest hundreds, thousands, lakhs, millions, or crores, or decimals thereof.”

2.This notification shall come into force on the date of its publication in the Official Gazette.

[ F. No.1/5/2002-CL.V ]

(RAJIV MEHRISHI)

Joint Secretary

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