Govind Narayan Sharma
During these days most of the professionals in our stream remains engaged with statutory audits. A part of statutory audit includes due verification of compliance under various laws. With the introduction of the Companies Act, 2013, numerous compliances are made applicable on Companies on the basis of quantum of their paid up share capital, turnover, amount of deposits, loan from financial institutions etc. Non-compliance with these provisions shall cause penal implications over the company, officers in default, professionals and prosecutorial over the officer in default or professionals.
In this document, I have tried to summarise most of those provisions along with the consequences on non-compliance. This document will assist both professionals and students.
I invite comment of our readers to further improve the article or for any value addition.
On the auspicious festival of Rakshabandhan, I dedicate this article to my 4 sweet Sisters.
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Disclaimer : The contents of this document are solely for informational purpose. It does not constitute professional advice. Author do not accepts any liability for any loss or damage of any kind arising out of any information in this document nor for any action taken in reliance thereon.