MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 30th March, 2017
G.S.R. 308(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to Schedule III of the said Act with effect from the date of publication of this notification in the Official Gazette, namely:-
2. In the Companies Act, 2013 (hereinafter referred to as the principal Act), in Schedule III, in Division I, in Part I under the heading “General instructions for preparation of Balance Sheet” in paragraph 6, after clause ‘W’, the following clause shall be inserted namely:-
“X. Every company shall disclose the details of Specified Bank Notes (SBN) held and transacted during the period from 8th November, 2016 to 30th December, 2016 as provided in the Table below:-
| SBNs | Other denomination notes | Total | |
| Closing cash in hand as on 08.11.2016 | |||
| (+) Permitted receipts | |||
| (-) Permitted payments | |||
| (-) Amount deposited in Banks | |||
| Closing cash in hand as on 30.12.2016 |
Explanation : For the purposes of this clause, the term ‘Specified Bank Notes’ shall have the same meaning provided in the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E), dated the 8th November, 2016.”.
3. In the principal Act, in Schedule III, in Division II, in Part I under the heading “General instructions for preparation of Balance Sheet” in paragraph 6, after clause ‘J’, the following clause shall be inserted namely:-
“K. Every company shall disclose the details of Specified Bank Notes (SBN) held and transacted during the period 08/11/2016 to 30/12/2016 as provided in the Table below:-
| SBNs | Other denomination notes | Total | |
| Closing cash in hand as on 08.11.2016 | |||
| (+) Permitted receipts | |||
| (-) Permitted payments | |||
| (-) Amount deposited in Banks | |||
| Closing cash in hand as on 30.12.2016 |
Explanation : For the purposes of this clause, the term ‘Specified Bank Notes’ shall have the same meaning provided in the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number S.O. 3407(E), dated the 8th November, 2016.”.
[F. No. 17/62/2015-CL-V (Vol.I)]
AMARDEEP S. BHATIA,
Jt. Secy.
Note : Schedule III of the Companies Act, 2013 came into force with effect from the 1st April, 2014 vide Notification S.O. 902(E), dated 26.3.2014, subsequently amended vide G.S.R. 679(E), dated 04.09.2015 and vide G.S.R. 404(E), dated 06.04.2016.
Also Read- Auditors report to disclose dealings in Specified Bank Notes during demonetisation
I don’t find anything in the notification that said the notification applies only to balance sheet as on 31/03/2017 only and not thereafter.
Can you tell me know whether SBN notification for disclosure in Notes to accounts is applicable for Non Life Insurance Business..
Because Insurance companies are not required to present their Financial Statement as per Schedule III (Proviso 2 of Sub-section 1 of Section 129 ) and amendment is made in Schedule III which is not applicable for Insurance Business.
NOWHERE THERE IS ANY NOTIFICATION IN MCA PORTAL. PLS CLARIFY.
No such notification found so far on MCA website
Can you provide a link to the notification?