GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, dated 16th January, 2015
G.S.R. 37(E). In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Accounts) Rules, 2014, namely:—
- (1) These rules may be called the Companies (Accounts) Amendment Rules, 2015.
(2) They shall come into force on the date of their publication in the Official Gazette.
- In the Companies (Accounts) Rules, 2014,—
(i) after rule 2, following rule shall be inserted, namely:—
“2A. Notice of address at which books of account are to be maintained.—For the purposes of the first proviso to sub-section (1) of section 128, the notice regarding address at which books of account may be kept shall be in Form AOC-5.”
(ii) in rule 6, after the third proviso, the following proviso shall be inserted, namely:—
“Provided also that nothing in this rule shall apply in respect of consolidation of financial statement by a company having subsidiary or subsidiaries incorporated outside India only for the financial year commencing on or after 1st April, 2014.”
(iii) in the Annexure, after Form AOC-4, the following Form shall be inserted, namely:—
[F.NO. 1/19/2013-CL-V-PART]
REACTION
Looking at the series of such notifications,besides long line of departmental circulars,being issued off and on,as a routine affair,no right-THINKING (- MINDED) person, he be an expert or otherwise on company law,can afford not to appreciate the good sense / righteous substance in the criticism increasingly being floated in learned quarters that the 2013 company law has proved a ‘MESSED OPPORTUNITY’.
Earlier the Better, for one and all concerned,and for the common good, that the vast community of lawyers and accountants at large come out openly with their impartial and upright viewpoints, particularly helpful ell-considered multifaceted suggestions, on the ongoing exercise in implementing the new corporate law,in a piecemeal/truncated manner, much to the chagrin of the corporate world.
The learned experts at the august professional bodies,such as ICAI, looked to as partners in shaping a resurgent India, it is hoped, would not fail but devoutly seize the opportunity,sincerely rise to the occasion,and make their profoundly valuable contribution in the matter of undeniable complicity.
As I understand ,filing of form AOC 5 will be applicable in case of Companies being incorporated hereafter or where ever there is a change in maintenance of accounting records for the existing Companies hereafter .It should not apply to existing Companies in other cases where there is no change contemplated .