Critical Issues in Company Law for Private Companies

CA. PRAMOD JAIN
FCA, FCS, FCMA, LL.B, MIMA, DISA
CA. PRAMOD JAIN
FCA, FCS, FCMA, LL.B, MIMA, DISA
LUNAWAT & CO.
Chartered AccountantsChartered AccountantsChartered AccountantsChartered Accountants
LUNAWAT & CO.
Chartered AccountantsChartered AccountantsChartered AccountantsChartered Accountants
4444thththth February 2017February 2017February 2017February 2017 NanitalNanitalNanitalNanital, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society4444thththth February 2017February 2017February 2017February 2017 NanitalNanitalNanitalNanital, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society
CRITICAL ISSUES
IN COMPANY LAW
FOR
PRIVATE COMPANIES
CRITICAL ISSUES
IN COMPANY LAW
FOR
PRIVATE COMPANIES

THE PROCESSTHE PROCESSTHE PROCESSTHE PROCESS
Lunawat & Co.
FinancialFinancialFinancialFinancial
StatementsStatementsStatementsStatements
AuditorsAuditorsAuditorsAuditors
ReportReportReportReport
DirectorsDirectorsDirectorsDirectors

Lunawat & Co.
AnnualAnnualAnnualAnnual
Director’sDirector’sDirector’sDirector’s
Auditor’sAuditor’sAuditor’sAuditor’s
FinancialFinancialFinancialFinancial
statementstatementstatementstatement
ssss
BalanceBalanceBalanceBalance
SheetSheetSheetSheet
Profit /Profit /Profit /Profit /
LossLossLossLoss
Cash FlowCash FlowCash FlowCash Flow NotesNotesNotesNotes

FINANCIAL STATEMENTSFINANCIAL STATEMENTSFINANCIAL STATEMENTSFINANCIAL STATEMENTS
Financial YearFinancial YearFinancial YearFinancial Year –––– 31313131stststst MarchMarchMarchMarch
Cash Flow for all except:Cash Flow for all except:Cash Flow for all except:Cash Flow for all except:
OPCOPCOPCOPC
SCSCSCSC
DCDCDCDC
FS toFS toFS toFS to be in Schedule IIIbe in Schedule IIIbe in Schedule IIIbe in Schedule III
AmendedAmendedAmendedAmended w.e.fw.e.fw.e.fw.e.f. 4.9.15 to include. 4.9.15 to include. 4.9.15 to include. 4.9.15 to include
MSMED details under TradeMSMED details under TradeMSMED details under TradeMSMED details under Trade PayablePayablePayablePayable
Lunawat & Co.

BASICSBASICSBASICSBASICS –––– CURRENT VS. NONCURRENT VS. NONCURRENT VS. NONCURRENT VS. NON----CURRENTCURRENTCURRENTCURRENT
Current AssetCurrent AssetCurrent AssetCurrent Asset ---- satisfies any of following criteria;satisfies any of following criteria;satisfies any of following criteria;satisfies any of following criteria;
In the company’s normal operating cycle it is;In the company’s normal operating cycle it is;In the company’s normal operating cycle it is;In the company’s normal operating cycle it is;
Intended for sale; orIntended for sale; orIntended for sale; orIntended for sale; or
Intended to be consumed; orIntended to be consumed; orIntended to be consumed; orIntended to be consumed; or
Expected to be realized.Expected to be realized.Expected to be realized.Expected to be realized.
Held primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; or
Expected to be realized within 12 months afterExpected to be realized within 12 months afterExpected to be realized within 12 months afterExpected to be realized within 12 months after
reporting date; orreporting date; orreporting date; orreporting date; or
Cash or cash equivalent unless it is restricted fromCash or cash equivalent unless it is restricted fromCash or cash equivalent unless it is restricted fromCash or cash equivalent unless it is restricted from
being exchanged or used to settle a liability for atbeing exchanged or used to settle a liability for atbeing exchanged or used to settle a liability for atbeing exchanged or used to settle a liability for at
least 12 months after reporting date.least 12 months after reporting date.least 12 months after reporting date.least 12 months after reporting date.
Lunawat & Co.

BASICSBASICSBASICSBASICS ---- CURRENT LIABILITYCURRENT LIABILITYCURRENT LIABILITYCURRENT LIABILITY
Current liability if it satisfies any of the followingCurrent liability if it satisfies any of the followingCurrent liability if it satisfies any of the followingCurrent liability if it satisfies any of the following
criteria; if it is :criteria; if it is :criteria; if it is :criteria; if it is :
Expected to be settled in the company’s normalExpected to be settled in the company’s normalExpected to be settled in the company’s normalExpected to be settled in the company’s normal
operating cycle; oroperating cycle; oroperating cycle; oroperating cycle; or
Held primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; or
Due to be settled within 12 months after reportingDue to be settled within 12 months after reportingDue to be settled within 12 months after reportingDue to be settled within 12 months after reporting
date; ordate; ordate; ordate; or
The company does not have an unconditional rightThe company does not have an unconditional rightThe company does not have an unconditional rightThe company does not have an unconditional right
to defer settlement of liability for at least 12to defer settlement of liability for at least 12to defer settlement of liability for at least 12to defer settlement of liability for at least 12
months after reporting date. Terms of a liabilitymonths after reporting date. Terms of a liabilitymonths after reporting date. Terms of a liabilitymonths after reporting date. Terms of a liability
that could, at option of counterparty, result in itsthat could, at option of counterparty, result in itsthat could, at option of counterparty, result in itsthat could, at option of counterparty, result in its
settlement by issue of equity do not affect itssettlement by issue of equity do not affect itssettlement by issue of equity do not affect itssettlement by issue of equity do not affect its
classification.classification.classification.classification.
Lunawat & Co.

GENERALGENERALGENERALGENERAL
Balance Sheet TitleBalance Sheet TitleBalance Sheet TitleBalance Sheet Title –––– ‘as at’ or ‘as on’ 31st‘as at’ or ‘as on’ 31st‘as at’ or ‘as on’ 31st‘as at’ or ‘as on’ 31st
MarchMarchMarchMarch
Rounding off based on turnover.Rounding off based on turnover.Rounding off based on turnover.Rounding off based on turnover.
<<<< RsRsRsRs. 100 Crores. 100 Crores. 100 Crores. 100 Crores ---- To the nearest hundreds,To the nearest hundreds,To the nearest hundreds,To the nearest hundreds,
thousands, lakhs or millions or decimalthousands, lakhs or millions or decimalthousands, lakhs or millions or decimalthousands, lakhs or millions or decimal
thereofthereofthereofthereof
RsRsRsRs. 100 Crores or more. 100 Crores or more. 100 Crores or more. 100 Crores or more ---- To the nearestTo the nearestTo the nearestTo the nearest
lakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereof
ComparativeComparativeComparativeComparative figuresfiguresfiguresfigures requiredrequiredrequiredrequired to be disclosedto be disclosedto be disclosedto be disclosed
for the last reportingfor the last reportingfor the last reportingfor the last reporting periodperiodperiodperiod
Lunawat & Co.

GENERALGENERALGENERALGENERAL
Linking of notes with B/S & PLLinking of notes with B/S & PLLinking of notes with B/S & PLLinking of notes with B/S & PL
PreviousPreviousPreviousPrevious year figuresyear figuresyear figuresyear figures
Name , DIN, designation & address ofName , DIN, designation & address ofName , DIN, designation & address ofName , DIN, designation & address of
signatories to any documentsignatories to any documentsignatories to any documentsignatories to any document
uploaded / filed with ROCuploaded / filed with ROCuploaded / filed with ROCuploaded / filed with ROC
B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!
Date of signingDate of signingDate of signingDate of signing
Payment to shareholders for 2(22)(e)Payment to shareholders for 2(22)(e)Payment to shareholders for 2(22)(e)Payment to shareholders for 2(22)(e)
Lunawat & Co.

FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)
Particulars Note
No.
Figures as at the
end of the CRP
Figures as at the
end of the PRP
I. EQUITY AND LIABILITIES
(1) Shareholders’ Funds
(a) Share capital
(b) Reserve and Surplus
(c) Money received against share
warrants
1
2
(2) Share application money pending
allotment
3
(3) Non-current Liabilities
(a) Long term borrowings
(b) Deferred tax liabilities (net)
(c) Other long term liabilities
(d) Long term provisions
4
5
6
7
(4) Current Liabilities
(a) Short term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short term provisions
8
9
10
TOTAL

SHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVES
AuthorizedAuthorizedAuthorizedAuthorized / Paid up Capital/ Paid up Capital/ Paid up Capital/ Paid up Capital –––– Check withCheck withCheck withCheck with
Master DataMaster DataMaster DataMaster Data
Reconciliation of no of shares outstanding atReconciliation of no of shares outstanding atReconciliation of no of shares outstanding atReconciliation of no of shares outstanding at
beginning and at end of reporting period.beginning and at end of reporting period.beginning and at end of reporting period.beginning and at end of reporting period.
RRRRightsightsightsights, preference & restrictions attaching to, preference & restrictions attaching to, preference & restrictions attaching to, preference & restrictions attaching to
each class of shareseach class of shareseach class of shareseach class of shares etc.etc.etc.etc.
IsIsIsIs conversion of loans into shares in event ofconversion of loans into shares in event ofconversion of loans into shares in event ofconversion of loans into shares in event of
default in repaymentdefault in repaymentdefault in repaymentdefault in repayment –––– NonNonNonNon----cash?cash?cash?cash?
Share Premium A/c??Share Premium A/c??Share Premium A/c??Share Premium A/c??
Lunawat & Co.

SHARE APPLICATION MONEYSHARE APPLICATION MONEYSHARE APPLICATION MONEYSHARE APPLICATION MONEY ---- DISCLOSUREDISCLOSUREDISCLOSUREDISCLOSURE
Terms & conditions & No. of shares proposed toTerms & conditions & No. of shares proposed toTerms & conditions & No. of shares proposed toTerms & conditions & No. of shares proposed to
be issued.be issued.be issued.be issued.
Amount of premium, if any.Amount of premium, if any.Amount of premium, if any.Amount of premium, if any.
Period before which the allotment shall be made.Period before which the allotment shall be made.Period before which the allotment shall be made.Period before which the allotment shall be made.
Whether company has sufficient authorizedWhether company has sufficient authorizedWhether company has sufficient authorizedWhether company has sufficient authorized
share capital to allot shares.share capital to allot shares.share capital to allot shares.share capital to allot shares.
Period for which the share application money hasPeriod for which the share application money hasPeriod for which the share application money hasPeriod for which the share application money has
been pending beyond the period for allotment asbeen pending beyond the period for allotment asbeen pending beyond the period for allotment asbeen pending beyond the period for allotment as
mentioned in the share application document.mentioned in the share application document.mentioned in the share application document.mentioned in the share application document.
Reason for which such share application moneyReason for which such share application moneyReason for which such share application moneyReason for which such share application money
is pending for allotment, if so pending.is pending for allotment, if so pending.is pending for allotment, if so pending.is pending for allotment, if so pending.
Lunawat & Co.

CARO 2016CARO 2016CARO 2016CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES
14141414 ––––NewNewNewNew ---- Whether Co. has madeWhether Co. has madeWhether Co. has madeWhether Co. has made
preferential allotment / PP of shares orpreferential allotment / PP of shares orpreferential allotment / PP of shares orpreferential allotment / PP of shares or
fully or partlyfully or partlyfully or partlyfully or partly convertibleconvertibleconvertibleconvertible deb. duringdeb. duringdeb. duringdeb. during yryryryr....
WhetherWhetherWhetherWhether SSSS. 42 complied &. 42 complied &. 42 complied &. 42 complied & amountamountamountamount raisedraisedraisedraised
used for purposes for which funds wereused for purposes for which funds wereused for purposes for which funds wereused for purposes for which funds were
raised.raised.raised.raised.
If not, details of amount involved andIf not, details of amount involved andIf not, details of amount involved andIf not, details of amount involved and
nature of nonnature of nonnature of nonnature of non----compliance.compliance.compliance.compliance.
Lunawat & Co.

PRIVATEPRIVATEPRIVATEPRIVATE PLACEMENTPLACEMENTPLACEMENTPLACEMENT ---- PROCEDUREPROCEDUREPROCEDUREPROCEDURE
Special ResolutionSpecial ResolutionSpecial ResolutionSpecial Resolution ––––
MGTMGTMGTMGT ----14 (earlier14 (earlier14 (earlier14 (earlier
offer should beoffer should beoffer should beoffer should be
complete)complete)complete)complete)
Send letter of offerSend letter of offerSend letter of offerSend letter of offer
to persons fromto persons fromto persons fromto persons from
whom money to bewhom money to bewhom money to bewhom money to be
raised < 50 personsraised < 50 personsraised < 50 personsraised < 50 persons
> 200 per year> 200 per year> 200 per year> 200 per year
Send the detail ofSend the detail ofSend the detail ofSend the detail of
persons to whompersons to whompersons to whompersons to whom
offer sent to ROCoffer sent to ROCoffer sent to ROCoffer sent to ROC
within 30 dayswithin 30 dayswithin 30 dayswithin 30 days
On receivingOn receivingOn receivingOn receiving
amount, allot withinamount, allot withinamount, allot withinamount, allot within
60 days60 days60 days60 days
If not allotted refundIf not allotted refundIf not allotted refundIf not allotted refund
within 15 dayswithin 15 dayswithin 15 dayswithin 15 days
If not refunded payIf not refunded payIf not refunded payIf not refunded pay
inttinttinttintt @ 12%@ 12%@ 12%@ 12%
Lunawat & Co.

BORROWINGSBORROWINGSBORROWINGSBORROWINGS
Long Term vs. ShortLong Term vs. ShortLong Term vs. ShortLong Term vs. Short TermTermTermTerm –––– CC Limits?? DemandCC Limits?? DemandCC Limits?? DemandCC Limits?? Demand
Loans??Loans??Loans??Loans??
Secured /unsecuredSecured /unsecuredSecured /unsecuredSecured /unsecured –––– nature of security to benature of security to benature of security to benature of security to be
statedstatedstatedstated &&&& guaranteed by directors to be shownguaranteed by directors to be shownguaranteed by directors to be shownguaranteed by directors to be shown
separately.separately.separately.separately.
Term of repayment of term loans to be givenTerm of repayment of term loans to be givenTerm of repayment of term loans to be givenTerm of repayment of term loans to be given
Period of maturity with respect to B/S datePeriod of maturity with respect to B/S datePeriod of maturity with respect to B/S datePeriod of maturity with respect to B/S date
Number of installments dueNumber of installments dueNumber of installments dueNumber of installments due
Amount of installments dueAmount of installments dueAmount of installments dueAmount of installments due
Applicable rate of interestApplicable rate of interestApplicable rate of interestApplicable rate of interest
PeriodPeriodPeriodPeriod & amount of default in payment of& amount of default in payment of& amount of default in payment of& amount of default in payment of
principalprincipalprincipalprincipal &&&& interest as oninterest as oninterest as oninterest as on B/SB/SB/SB/S datedatedatedate
Lunawat & Co.

9999 –––– NewNewNewNew ---- Whether moneys raised by way ofWhether moneys raised by way ofWhether moneys raised by way ofWhether moneys raised by way of IPOIPOIPOIPO
/ FPO (including/ FPO (including/ FPO (including/ FPO (including debt instruments) &debt instruments) &debt instruments) &debt instruments) & term loansterm loansterm loansterm loans
were applied forwere applied forwere applied forwere applied for purposespurposespurposespurposes for which those arefor which those arefor which those arefor which those are
raised. If not,raised. If not,raised. If not,raised. If not, detailsdetailsdetailsdetails together with delays /together with delays /together with delays /together with delays /
defaultdefaultdefaultdefault &&&& subsequentsubsequentsubsequentsubsequent rectification.rectification.rectification.rectification.
DefaultDefaultDefaultDefault ---- amount involvedamount involvedamount involvedamount involved , nature, nature, nature, nature ofofofof default, delaydefault, delaydefault, delaydefault, delay inininin
utilizationutilizationutilizationutilization
Co. to disclose endCo. to disclose endCo. to disclose endCo. to disclose end use ofuse ofuse ofuse of IPO/FPO in notes & auditorIPO/FPO in notes & auditorIPO/FPO in notes & auditorIPO/FPO in notes & auditor
totototo verifyverifyverifyverify –––– seeseeseesee SEBI (ListingSEBI (ListingSEBI (ListingSEBI (Listing Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.
Temporary investment (FDR) to be reportedTemporary investment (FDR) to be reportedTemporary investment (FDR) to be reportedTemporary investment (FDR) to be reported
Term Loans from Private PartiesTerm Loans from Private PartiesTerm Loans from Private PartiesTerm Loans from Private Parties
If against property, FDR,If against property, FDR,If against property, FDR,If against property, FDR, etcetcetcetc –––– no specific purposeno specific purposeno specific purposeno specific purpose
Lunawat & Co.

LOANS TAKENLOANS TAKENLOANS TAKENLOANS TAKEN
Section 73Section 73Section 73Section 73----76767676
Section 185Section 185Section 185Section 185
Lunawat & Co.

DEPOSITSDEPOSITSDEPOSITSDEPOSITS
Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :
Banking companiesBanking companiesBanking companiesBanking companies ---- (RBI);(RBI);(RBI);(RBI);
NBFCNBFCNBFCNBFC –––– (RBI);(RBI);(RBI);(RBI);
Notified companies;Notified companies;Notified companies;Notified companies;
Public company having net worth > 100 Cr orPublic company having net worth > 100 Cr orPublic company having net worth > 100 Cr orPublic company having net worth > 100 Cr or
turnover > 500 Cr (Rules)turnover > 500 Cr (Rules)turnover > 500 Cr (Rules)turnover > 500 Cr (Rules)
OthersOthersOthersOthers –––– only from its members subject toonly from its members subject toonly from its members subject toonly from its members subject to
certain conditions (73(2)).certain conditions (73(2)).certain conditions (73(2)).certain conditions (73(2)). –––– Pvt. Cos.Pvt. Cos.Pvt. Cos.Pvt. Cos. uptouptouptoupto
100% of capital + free reserves100% of capital + free reserves100% of capital + free reserves100% of capital + free reserves –––– 5.6.155.6.155.6.155.6.15 ----
100% of capital +100% of capital +100% of capital +100% of capital + FR + SPFR + SPFR + SPFR + SP –––– 26.6.1626.6.1626.6.1626.6.16
Lunawat & Co.

ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014
Apply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFC
Deposit includes receipt of money by way of loan, depositDeposit includes receipt of money by way of loan, depositDeposit includes receipt of money by way of loan, depositDeposit includes receipt of money by way of loan, deposit
or other form, but does not include:or other form, but does not include:or other form, but does not include:or other form, but does not include:
Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.
Amount from ForeignAmount from ForeignAmount from ForeignAmount from Foreign GGGGovtovtovtovt, Bank,, Bank,, Bank,, Bank, etcetcetcetc as per FEMAas per FEMAas per FEMAas per FEMA
Amount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPs
ICDICDICDICD
From director out of his own fundsFrom director out of his own fundsFrom director out of his own fundsFrom director out of his own funds –––– to report in D.R.to report in D.R.to report in D.R.to report in D.R. w.e.fw.e.fw.e.fw.e.f....
15.9.1515.9.1515.9.1515.9.15 –––– FSFSFSFS –––– 29.6.1629.6.1629.6.1629.6.16
FromFromFromFrom relative of directorrelative of directorrelative of directorrelative of director for Pvt. Co. outfor Pvt. Co. outfor Pvt. Co. outfor Pvt. Co. out of his own fundsof his own fundsof his own fundsof his own funds –––– totototo
report inreport inreport inreport in D.R.D.R.D.R.D.R. w.e.fw.e.fw.e.fw.e.f.... 15.9.1515.9.1515.9.1515.9.15 –––– FSFSFSFS –––– 29.6.1629.6.1629.6.1629.6.16
Convertible bond / debentureConvertible bond / debentureConvertible bond / debentureConvertible bond / debenture –––– shares within 5 yearsshares within 5 yearsshares within 5 yearsshares within 5 years 10 from10 from10 from10 from
29.6.16. & Listed unsecured NCD29.6.16. & Listed unsecured NCD29.6.16. & Listed unsecured NCD29.6.16. & Listed unsecured NCD
Interest free security depositInterest free security depositInterest free security depositInterest free security deposit –––– employeeemployeeemployeeemployee –––– 1111 yryryryr salarysalarysalarysalary
Lunawat & Co.

ACCEPTANCE OF DEPOSIT RULESACCEPTANCE OF DEPOSIT RULESACCEPTANCE OF DEPOSIT RULESACCEPTANCE OF DEPOSIT RULES 2014201420142014
NonNonNonNon----Interest bearing amount received and held inInterest bearing amount received and held inInterest bearing amount received and held inInterest bearing amount received and held in
TrustTrustTrustTrust
Business advances:Business advances:Business advances:Business advances:
Supply of goods / servicesSupply of goods / servicesSupply of goods / servicesSupply of goods / services –––– within 365 dayswithin 365 dayswithin 365 dayswithin 365 days
AgainstAgainstAgainstAgainst ImmImmImmImm propertypropertypropertyproperty –––– if adjusted as per agreementif adjusted as per agreementif adjusted as per agreementif adjusted as per agreement
SSSSecurity deposit for performance of contract forecurity deposit for performance of contract forecurity deposit for performance of contract forecurity deposit for performance of contract for
supply of goods or provision of servicessupply of goods or provision of servicessupply of goods or provision of servicessupply of goods or provision of services
AAAAdvance under long term projects for supply of capitaldvance under long term projects for supply of capitaldvance under long term projects for supply of capitaldvance under long term projects for supply of capital
goodsgoodsgoodsgoods
Advance for providing future services in form ofAdvance for providing future services in form ofAdvance for providing future services in form ofAdvance for providing future services in form of
warranty or maintenance contract (written)warranty or maintenance contract (written)warranty or maintenance contract (written)warranty or maintenance contract (written) uptouptouptoupto 5555
yearsyearsyearsyears –––– 29.6.201629.6.201629.6.201629.6.2016
Lunawat & Co.

Advance received and as allowed byAdvance received and as allowed byAdvance received and as allowed byAdvance received and as allowed by sectoralsectoralsectoralsectoral
regulator as per CG or SGregulator as per CG or SGregulator as per CG or SGregulator as per CG or SG –––– 29.6.201629.6.201629.6.201629.6.2016
AdvanceAdvanceAdvanceAdvance for subscription towards publicationfor subscription towards publicationfor subscription towards publicationfor subscription towards publication ––––
29.6.201629.6.201629.6.201629.6.2016
If Co. accepting money does not have necessaryIf Co. accepting money does not have necessaryIf Co. accepting money does not have necessaryIf Co. accepting money does not have necessary
permission or approval to deal in goods orpermission or approval to deal in goods orpermission or approval to deal in goods orpermission or approval to deal in goods or
properties or servicesproperties or servicesproperties or servicesproperties or services ----DepositDepositDepositDeposit
Subscription to chit under Chit Fund ActSubscription to chit under Chit Fund ActSubscription to chit under Chit Fund ActSubscription to chit under Chit Fund Act–––– 29.6.1629.6.1629.6.1629.6.16
Received by company in collective investmentReceived by company in collective investmentReceived by company in collective investmentReceived by company in collective investment
scheme in compliance with SEBIscheme in compliance with SEBIscheme in compliance with SEBIscheme in compliance with SEBI –––– 29.6.1629.6.1629.6.1629.6.16
Lunawat & Co.

RsRsRsRs. 25 Lakh or more by start up company in. 25 Lakh or more by start up company in. 25 Lakh or more by start up company in. 25 Lakh or more by start up company in
single tranche by convertible note (in equity orsingle tranche by convertible note (in equity orsingle tranche by convertible note (in equity orsingle tranche by convertible note (in equity or
repayable within 5 years)repayable within 5 years)repayable within 5 years)repayable within 5 years) –––– 29.6.1629.6.1629.6.1629.6.16
Amount received from alternative investmentAmount received from alternative investmentAmount received from alternative investmentAmount received from alternative investment
funds, Domestic VC Funds, MF registered withfunds, Domestic VC Funds, MF registered withfunds, Domestic VC Funds, MF registered withfunds, Domestic VC Funds, MF registered with
SEBISEBISEBISEBI –––– 29.6.1629.6.1629.6.1629.6.16
PromotersPromotersPromotersPromoters ---- stipulation of any FI or a banks:stipulation of any FI or a banks:stipulation of any FI or a banks:stipulation of any FI or a banks:----
Loan is brought in pursuance of stipulation imposed by lendingLoan is brought in pursuance of stipulation imposed by lendingLoan is brought in pursuance of stipulation imposed by lendingLoan is brought in pursuance of stipulation imposed by lending
institutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; and
Loan is provided by the promoters themselves and/or by theirLoan is provided by the promoters themselves and/or by theirLoan is provided by the promoters themselves and/or by theirLoan is provided by the promoters themselves and/or by their
relatives.relatives.relatives.relatives.
Exemption available only till loans areExemption available only till loans areExemption available only till loans areExemption available only till loans are repaidrepaidrepaidrepaid
Lunawat & Co.

Amt. received byAmt. received byAmt. received byAmt. received by NidhiNidhiNidhiNidhi companiescompaniescompaniescompanies
Public / EligiblePublic / EligiblePublic / EligiblePublic / Eligible –––– depositdepositdepositdeposit –––– 6 m to 36 m6 m to 36 m6 m to 36 m6 m to 36 m
Eligible company to obtain rating and to be attachedEligible company to obtain rating and to be attachedEligible company to obtain rating and to be attachedEligible company to obtain rating and to be attached
with DPT 3with DPT 3with DPT 3with DPT 3 –––– 29.6.1629.6.1629.6.1629.6.16
If <6, 3 monthsIf <6, 3 monthsIf <6, 3 monthsIf <6, 3 months ---- 10% of capital + free reserves10% of capital + free reserves10% of capital + free reserves10% of capital + free reserves
Total deposit from members <25% of C + F. ReserveTotal deposit from members <25% of C + F. ReserveTotal deposit from members <25% of C + F. ReserveTotal deposit from members <25% of C + F. Reserve ––––
35% from35% from35% from35% from 29.6.1629.6.1629.6.1629.6.16
Rate ofRate ofRate ofRate of InttInttInttIntt & commission not to exceed NBFC norms& commission not to exceed NBFC norms& commission not to exceed NBFC norms& commission not to exceed NBFC norms
Auditors should take suitable note of violation of theseAuditors should take suitable note of violation of theseAuditors should take suitable note of violation of theseAuditors should take suitable note of violation of these
provisionsprovisionsprovisionsprovisions
Lunawat & Co.

AUDITOR’S DUTYAUDITOR’S DUTYAUDITOR’S DUTYAUDITOR’S DUTY ––––CAROCAROCAROCARO 2016201620162016
5555 ---- IIIInnnn casecasecasecase, co. has, co. has, co. has, co. has accepted deposits,accepted deposits,accepted deposits,accepted deposits,
whetherwhetherwhetherwhether directivesdirectivesdirectivesdirectives issued byissued byissued byissued by RBI &RBI &RBI &RBI &
provisionsprovisionsprovisionsprovisions ofofofof ss. 73ss. 73ss. 73ss. 73 to 76 or any otherto 76 or any otherto 76 or any otherto 76 or any other
relevant provisions ofrelevant provisions ofrelevant provisions ofrelevant provisions of CompaniesCompaniesCompaniesCompanies Act, 2013Act, 2013Act, 2013Act, 2013
& rules& rules& rules& rules framed thereunder, whereframed thereunder, whereframed thereunder, whereframed thereunder, where
applicable, have been complied with?applicable, have been complied with?applicable, have been complied with?applicable, have been complied with?
IfIfIfIf not,not,not,not, naturenaturenaturenature of such contraventions beof such contraventions beof such contraventions beof such contraventions be
stated; If an order has been passed bystated; If an order has been passed bystated; If an order has been passed bystated; If an order has been passed by CLBCLBCLBCLB
orororor NCLTNCLTNCLTNCLT orororor RBIRBIRBIRBI or any court or any otheror any court or any otheror any court or any otheror any court or any other
tribunal, whethertribunal, whethertribunal, whethertribunal, whether samesamesamesame has been compliedhas been compliedhas been compliedhas been complied
with or not?with or not?with or not?with or not?
Lunawat & Co.

OTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIES
The amount shall be classified as:The amount shall be classified as:The amount shall be classified as:The amount shall be classified as:
Current maturities of long term debtsCurrent maturities of long term debtsCurrent maturities of long term debtsCurrent maturities of long term debts
Current maturities of finance lease obligationsCurrent maturities of finance lease obligationsCurrent maturities of finance lease obligationsCurrent maturities of finance lease obligations
Interest accrued but not due on borrowingsInterest accrued but not due on borrowingsInterest accrued but not due on borrowingsInterest accrued but not due on borrowings
Interest accrued and due on borrowingsInterest accrued and due on borrowingsInterest accrued and due on borrowingsInterest accrued and due on borrowings
Income received in advanceIncome received in advanceIncome received in advanceIncome received in advance
Unpaid dividendsUnpaid dividendsUnpaid dividendsUnpaid dividends
Share Application money due for refund and interestShare Application money due for refund and interestShare Application money due for refund and interestShare Application money due for refund and interest
accrued thereon (including advances for allotment ofaccrued thereon (including advances for allotment ofaccrued thereon (including advances for allotment ofaccrued thereon (including advances for allotment of
share Capital)share Capital)share Capital)share Capital)
Unpaid matured deposit and interest thereonUnpaid matured deposit and interest thereonUnpaid matured deposit and interest thereonUnpaid matured deposit and interest thereon
Unpaid matured debentures and interest thereonUnpaid matured debentures and interest thereonUnpaid matured debentures and interest thereonUnpaid matured debentures and interest thereon
Other payablesOther payablesOther payablesOther payables
Lunawat & Co.

OTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIES
Others payable may include:Others payable may include:Others payable may include:Others payable may include:
Statutory obligations like, ESI, PF, VAT, CST, etc.Statutory obligations like, ESI, PF, VAT, CST, etc.Statutory obligations like, ESI, PF, VAT, CST, etc.Statutory obligations like, ESI, PF, VAT, CST, etc.
Liability for purchase of fixed assetsLiability for purchase of fixed assetsLiability for purchase of fixed assetsLiability for purchase of fixed assets
Contractually reimbursable expensesContractually reimbursable expensesContractually reimbursable expensesContractually reimbursable expenses
Interest accrued on trade payablesInterest accrued on trade payablesInterest accrued on trade payablesInterest accrued on trade payables
Expenses Payable.Expenses Payable.Expenses Payable.Expenses Payable.
TDS PayableTDS PayableTDS PayableTDS Payable
Trade / Security DepositTrade / Security DepositTrade / Security DepositTrade / Security Deposit
MarkMarkMarkMark----totototo----market loss on forward and optionmarket loss on forward and optionmarket loss on forward and optionmarket loss on forward and option
contractscontractscontractscontracts
Retention MoniesRetention MoniesRetention MoniesRetention Monies
Accrued salaries and benefitsAccrued salaries and benefitsAccrued salaries and benefitsAccrued salaries and benefits
Lunawat & Co.

FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)
Particulars Note
No.
Figures as at the
end of the CRP
Figures as at the
end of the PRP
II. ASSETS
(1)Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non- current investments
(c) Deferred tax assets (Net)
(d) Long term loans and advances
(e) Other non-current assets
11
12
13
14
15
(2) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short term loans and advances
(f) Other current assets
16
17
18
19
20
TOTAL

FIXED ASSETSFIXED ASSETSFIXED ASSETSFIXED ASSETS
Fixed Asset on the face of the BalanceFixed Asset on the face of the BalanceFixed Asset on the face of the BalanceFixed Asset on the face of the Balance
Sheet has to be classified as follows:Sheet has to be classified as follows:Sheet has to be classified as follows:Sheet has to be classified as follows:
Tangible AssetsTangible AssetsTangible AssetsTangible Assets
Intangible AssetsIntangible AssetsIntangible AssetsIntangible Assets
SoftwareSoftwareSoftwareSoftware
Capital workCapital workCapital workCapital work----inininin----progressprogressprogressprogress
Intangible assets under developmentIntangible assets under developmentIntangible assets under developmentIntangible assets under development
Capital advances not to be grouped asCapital advances not to be grouped asCapital advances not to be grouped asCapital advances not to be grouped as
Capital WorkCapital WorkCapital WorkCapital Work----inininin----Progress but long termProgress but long termProgress but long termProgress but long term
loans and advancesloans and advancesloans and advancesloans and advances????
Lunawat & Co.

INVENTORIESINVENTORIESINVENTORIESINVENTORIES
Classification into:Classification into:Classification into:Classification into:
Raw MaterialsRaw MaterialsRaw MaterialsRaw Materials
WorkWorkWorkWork----inininin----progressprogressprogressprogress
Finished goodsFinished goodsFinished goodsFinished goods
StockStockStockStock----inininin----trade (trading goods)trade (trading goods)trade (trading goods)trade (trading goods)
Stores and sparesStores and sparesStores and sparesStores and spares
Loose toolsLoose toolsLoose toolsLoose tools
Others (specifying nature)Others (specifying nature)Others (specifying nature)Others (specifying nature)
Finished goods should include all goods exceptFinished goods should include all goods exceptFinished goods should include all goods exceptFinished goods should include all goods except
acquired for trading purposesacquired for trading purposesacquired for trading purposesacquired for trading purposes
GoodsGoodsGoodsGoods----inininin----transittransittransittransit ----disclose under relevant subdisclose under relevant subdisclose under relevant subdisclose under relevant sub----headheadheadhead
Mode of valuation to be statedMode of valuation to be statedMode of valuation to be statedMode of valuation to be stated
Lunawat & Co.

RELATED PARTYRELATED PARTYRELATED PARTYRELATED PARTY
AccountingAccountingAccountingAccounting
StandardsStandardsStandardsStandards
AS 18AS 18AS 18AS 18
CompaniesCompaniesCompaniesCompanies
ActActActAct
S. 2(76)S. 2(76)S. 2(76)S. 2(76)
S. 184S. 184S. 184S. 184 S. 188S. 188S. 188S. 188
Income TaxIncome TaxIncome TaxIncome Tax
40A(2)(b)40A(2)(b)40A(2)(b)40A(2)(b)
Lunawat & Co.

3333 ---- Whether company has granted anyWhether company has granted anyWhether company has granted anyWhether company has granted any
loans, secured or unsecured to cos, firms,loans, secured or unsecured to cos, firms,loans, secured or unsecured to cos, firms,loans, secured or unsecured to cos, firms,
LLPLLPLLPLLP or other parties covered is registeredor other parties covered is registeredor other parties covered is registeredor other parties covered is registered
maintained u/s 189maintained u/s 189maintained u/s 189maintained u/s 189....[MBP[MBP[MBP[MBP----4]4]4]4] –––– 184(2)/188184(2)/188184(2)/188184(2)/188
If so,If so,If so,If so,
(a)(a)(a)(a) Whether terms & conditions of grant ofWhether terms & conditions of grant ofWhether terms & conditions of grant ofWhether terms & conditions of grant of
such loans are not prejudicial to company’ssuch loans are not prejudicial to company’ssuch loans are not prejudicial to company’ssuch loans are not prejudicial to company’s
interestinterestinterestinterest;;;;
CY only, terms s. 186(7), ability to lend, borrowerCY only, terms s. 186(7), ability to lend, borrowerCY only, terms s. 186(7), ability to lend, borrowerCY only, terms s. 186(7), ability to lend, borrower
standingstandingstandingstanding
Lunawat & Co.

((((b)b)b)b) Whether the schedule of repayment ofWhether the schedule of repayment ofWhether the schedule of repayment ofWhether the schedule of repayment of
principal & interest is stipulatedprincipal & interest is stipulatedprincipal & interest is stipulatedprincipal & interest is stipulated & whether& whether& whether& whether
repayments & interest are regular.repayments & interest are regular.repayments & interest are regular.repayments & interest are regular.
Opening + CY, squared up loans coveredOpening + CY, squared up loans coveredOpening + CY, squared up loans coveredOpening + CY, squared up loans covered –––– no. ofno. ofno. ofno. of
casescasescasescases
(c) If overdue amount(c) If overdue amount(c) If overdue amount(c) If overdue amount for more than 90 daysfor more than 90 daysfor more than 90 daysfor more than 90 days,,,,
whether reasonable steps taken by Co. forwhether reasonable steps taken by Co. forwhether reasonable steps taken by Co. forwhether reasonable steps taken by Co. for
recovery of the principal & interestrecovery of the principal & interestrecovery of the principal & interestrecovery of the principal & interest
OpeningOpeningOpeningOpening ++++ CYCYCYCY –––– no. of cases, principalno. of cases, principalno. of cases, principalno. of cases, principal amtamtamtamt
overdue,overdue,overdue,overdue, inttinttinttintt overdue, steps takenoverdue, steps takenoverdue, steps takenoverdue, steps taken
Lunawat & Co.

LOANS / INVESTMENTS MADELOANS / INVESTMENTS MADELOANS / INVESTMENTS MADELOANS / INVESTMENTS MADE
Section 179 / 180Section 179 / 180Section 179 / 180Section 179 / 180
Lunawat & Co.

4444 ---- In respect of loans, investments andIn respect of loans, investments andIn respect of loans, investments andIn respect of loans, investments and
guarantees, whether provisions ofguarantees, whether provisions ofguarantees, whether provisions ofguarantees, whether provisions of
Section 185 and 186Section 185 and 186Section 185 and 186Section 185 and 186 havehavehavehave beenbeenbeenbeen
complied with. If not, provide detailscomplied with. If not, provide detailscomplied with. If not, provide detailscomplied with. If not, provide details
thereofthereofthereofthereof.
185 Details185 Details185 Details185 Details –––– maximum amount and closingmaximum amount and closingmaximum amount and closingmaximum amount and closing
Bal.Bal.Bal.Bal.
186186186186 –––– more than 2 layers, exceeding limits,more than 2 layers, exceeding limits,more than 2 layers, exceeding limits,more than 2 layers, exceeding limits,
rate of interest, other defaultsrate of interest, other defaultsrate of interest, other defaultsrate of interest, other defaults
Lunawat & Co.

INTER CORPORATE DEPOSIT (INTER CORPORATE DEPOSIT (INTER CORPORATE DEPOSIT (INTER CORPORATE DEPOSIT (ICDICDICDICD))))
CanCanCanCan aaaa companycompanycompanycompany taketaketaketake ICD?ICD?ICD?ICD?
WhatWhatWhatWhat ifififif thethethethe companycompanycompanycompany fromfromfromfrom whomwhomwhomwhom youyouyouyou
taketaketaketake ICDICDICDICD hashashashas samesamesamesame directordirectordirectordirector asasasas youryouryouryour
company?company?company?company?
WhatWhatWhatWhat ifififif thethethethe companycompanycompanycompany fromfromfromfrom whomwhomwhomwhom youyouyouyou
taketaketaketake ICDICDICDICD hashashashas aaaa membermembermembermember whowhowhowho isisisis alsoalsoalsoalso aaaa
directordirectordirectordirector inininin youryouryouryour companycompanycompanycompany????
Lunawat & Co.

LOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTOR (185)(185)(185)(185)
Co. not allowed directly or indirectly to advanceCo. not allowed directly or indirectly to advanceCo. not allowed directly or indirectly to advanceCo. not allowed directly or indirectly to advance
anyanyanyany loanloanloanloan or anyor anyor anyor any loan represented by book debtloan represented by book debtloan represented by book debtloan represented by book debt
or giveor giveor giveor give guaranteeguaranteeguaranteeguarantee orororor provide security inprovide security inprovide security inprovide security in
connection with loan takenconnection with loan takenconnection with loan takenconnection with loan taken to:to:to:to:
Director of lending co or its partner or relativeDirector of lending co or its partner or relativeDirector of lending co or its partner or relativeDirector of lending co or its partner or relative
Director of its holding co or its partner or relativeDirector of its holding co or its partner or relativeDirector of its holding co or its partner or relativeDirector of its holding co or its partner or relative
Firm in which such director or relative is partnerFirm in which such director or relative is partnerFirm in which such director or relative is partnerFirm in which such director or relative is partner
Pvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or member
Co in which all directors hold >25% voting powerCo in which all directors hold >25% voting powerCo in which all directors hold >25% voting powerCo in which all directors hold >25% voting power
Co. or BOD or MD or Manager acts in direction orCo. or BOD or MD or Manager acts in direction orCo. or BOD or MD or Manager acts in direction orCo. or BOD or MD or Manager acts in direction or
instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.
Lunawat & Co.

LOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTOR –––– EXCEPTIONSEXCEPTIONSEXCEPTIONSEXCEPTIONS
MD or WTD if condition of serviceMD or WTD if condition of serviceMD or WTD if condition of serviceMD or WTD if condition of service ---- all employeesall employeesall employeesall employees
Any scheme approved by members byAny scheme approved by members byAny scheme approved by members byAny scheme approved by members by splsplsplspl
resolutionresolutionresolutionresolution
Co in business of providing loansCo in business of providing loansCo in business of providing loansCo in business of providing loans ---- InttInttInttIntt rate >rate >rate >rate >
bank rate by RBIbank rate by RBIbank rate by RBIbank rate by RBI
Loan, Guarantee,Loan, Guarantee,Loan, Guarantee,Loan, Guarantee, etcetcetcetc by holding co. toby holding co. toby holding co. toby holding co. to itsitsitsits WOSCWOSCWOSCWOSC
GGGGuaranteeuaranteeuaranteeuarantee given or security provided by agiven or security provided by agiven or security provided by agiven or security provided by a
holdingholdingholdingholding inininin respect of loan made byrespect of loan made byrespect of loan made byrespect of loan made by bankbankbankbank orororor FI toFI toFI toFI to
itsitsitsits subsidiarysubsidiarysubsidiarysubsidiary
HHHHowever, it should utilised by Subs. Co. forowever, it should utilised by Subs. Co. forowever, it should utilised by Subs. Co. forowever, it should utilised by Subs. Co. for
principle business activitiesprinciple business activitiesprinciple business activitiesprinciple business activities
Lunawat & Co.

EXCEPTIONSEXCEPTIONSEXCEPTIONSEXCEPTIONS –––– PVT.PVT.PVT.PVT. CO.CO.CO.CO.
Shall not apply to a private companyShall not apply to a private companyShall not apply to a private companyShall not apply to a private company ::::----
IIIInnnn whose share capital another body corporatewhose share capital another body corporatewhose share capital another body corporatewhose share capital another body corporate
has invested any money;has invested any money;has invested any money;has invested any money;
IIIIffff the borrowings of such a company fromthe borrowings of such a company fromthe borrowings of such a company fromthe borrowings of such a company from
banks or financial institutions or any bodybanks or financial institutions or any bodybanks or financial institutions or any bodybanks or financial institutions or any body
corporate is less than twice of its paid upcorporate is less than twice of its paid upcorporate is less than twice of its paid upcorporate is less than twice of its paid up
share capital orshare capital orshare capital orshare capital or RsRsRsRs. 50. 50. 50. 50 CrsCrsCrsCrs,,,, whichever is lower;whichever is lower;whichever is lower;whichever is lower;
andandandand
SuchSuchSuchSuch a company has no default in repaymenta company has no default in repaymenta company has no default in repaymenta company has no default in repayment
of such borrowings subsisting at the time ofof such borrowings subsisting at the time ofof such borrowings subsisting at the time ofof such borrowings subsisting at the time of
making transactions under this section.making transactions under this section.making transactions under this section.making transactions under this section.
Lunawat & Co.

LOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTORLOAN TO DIRECTOR –––– PENALTYPENALTYPENALTYPENALTY
On Giver i.e., Company:On Giver i.e., Company:On Giver i.e., Company:On Giver i.e., Company:
MinimumMinimumMinimumMinimum RsRsRsRs. 5. 5. 5. 5 LacsLacsLacsLacs
MaximumMaximumMaximumMaximum RRRRssss. 25. 25. 25. 25 LacsLacsLacsLacs
On Taker i.e., director:On Taker i.e., director:On Taker i.e., director:On Taker i.e., director:
IIIImprisonmentmprisonmentmprisonmentmprisonment uptouptouptoupto 6 months6 months6 months6 months
PenaltyPenaltyPenaltyPenalty ---- MinimumMinimumMinimumMinimum RsRsRsRs. 5. 5. 5. 5 LacsLacsLacsLacs
PenaltyPenaltyPenaltyPenalty ---- MaximumMaximumMaximumMaximum RsRsRsRs. 25. 25. 25. 25 LacsLacsLacsLacs
Auditor should ensure adequate disclosureAuditor should ensure adequate disclosureAuditor should ensure adequate disclosureAuditor should ensure adequate disclosure
in case of nonin case of nonin case of nonin case of non----compliancecompliancecompliancecompliance
Lunawat & Co.

GIVING LOAN & INVESTMENT (186)GIVING LOAN & INVESTMENT (186)GIVING LOAN & INVESTMENT (186)GIVING LOAN & INVESTMENT (186)
CompanyCompanyCompanyCompany cancancancan makemakemakemake investmentinvestmentinvestmentinvestment throughthroughthroughthrough notnotnotnot
moremoremoremore thanthanthanthan 2222 layerslayerslayerslayers ofofofof investinvestinvestinvest.... CoCoCoCo.... ExceptionsExceptionsExceptionsExceptions::::----
AcquisitionAcquisitionAcquisitionAcquisition ofofofof anyanyanyany otherotherotherother companycompanycompanycompany incorporatedincorporatedincorporatedincorporated outsideoutsideoutsideoutside IndiaIndiaIndiaIndia ifififif suchsuchsuchsuch
otherotherotherother companycompanycompanycompany hashashashas investmentinvestmentinvestmentinvestment beyondbeyondbeyondbeyond twotwotwotwo layerslayerslayerslayers asasasas perperperper thethethethe lawslawslawslaws ofofofof
thatthatthatthat countrycountrycountrycountry....
InvestmentInvestmentInvestmentInvestment bybybyby subsidiarysubsidiarysubsidiarysubsidiary companycompanycompanycompany inininin investmentinvestmentinvestmentinvestment subsidiarysubsidiarysubsidiarysubsidiary forforforfor thethethethe
purposepurposepurposepurpose ofofofof meetingmeetingmeetingmeeting anyanyanyany requirementrequirementrequirementrequirement underunderunderunder anyanyanyany lawlawlawlaw inininin forceforceforceforce....
DisclosureDisclosureDisclosureDisclosure ofofofof detailsdetailsdetailsdetails andandandand purposespurposespurposespurposes ofofofof loan,loan,loan,loan,
guarantee,guarantee,guarantee,guarantee, investmentinvestmentinvestmentinvestment inininin financialfinancialfinancialfinancial statementstatementstatementstatement....
CannotCannotCannotCannot givegivegivegive anyanyanyany loan/investmentloan/investmentloan/investmentloan/investment ifififif companycompanycompanycompany isisisis
inininin defaultdefaultdefaultdefault ofofofof payingpayingpayingpaying depositdepositdepositdeposit orororor interestinterestinterestinterest andandandand saidsaidsaidsaid
defaultdefaultdefaultdefault subsistssubsistssubsistssubsists....
Lunawat & Co.

Giving of loan / investment exceeding limitsGiving of loan / investment exceeding limitsGiving of loan / investment exceeding limitsGiving of loan / investment exceeding limits ––––
SR required.SR required.SR required.SR required. InttInttInttIntt > govt. security> govt. security> govt. security> govt. security
IfIfIfIf TermTermTermTerm loanloanloanloan fromfromfromfrom PFIPFIPFIPFI priorpriorpriorprior approvalapprovalapprovalapproval requiredrequiredrequiredrequired
forforforfor loanloanloanloan investmentinvestmentinvestmentinvestment etcetcetcetc beyondbeyondbeyondbeyond limitslimitslimitslimits
NoNoNoNo SRSRSRSR requiredrequiredrequiredrequired ifififif aaaa loanloanloanloan orororor guaranteeguaranteeguaranteeguarantee givengivengivengiven orororor
securitysecuritysecuritysecurity providedprovidedprovidedprovided totototo itsitsitsits WOSCWOSCWOSCWOSC orororor aaaa JVJVJVJV orororor forforforfor
purchasepurchasepurchasepurchase //// subscriptionsubscriptionsubscriptionsubscription ofofofof securitiessecuritiessecuritiessecurities ofofofof WOSCWOSCWOSCWOSC....
HoweverHoweverHoweverHowever disclosuredisclosuredisclosuredisclosure requiredrequiredrequiredrequired inininin FSFSFSFS
NoNoNoNo interestinterestinterestinterest freefreefreefree loansloansloansloans –––– raterateraterate ofofofof inttinttinttintt –––– GovtGovtGovtGovt
securitiessecuritiessecuritiessecurities
Lunawat & Co.

Exemption of provisions toExemption of provisions toExemption of provisions toExemption of provisions to
Loan/Guarantee/Security provided by aLoan/Guarantee/Security provided by aLoan/Guarantee/Security provided by aLoan/Guarantee/Security provided by a
Banking Co., Insurance Co., Housing FinanceBanking Co., Insurance Co., Housing FinanceBanking Co., Insurance Co., Housing FinanceBanking Co., Insurance Co., Housing Finance
Co., Co. engaged in business of Financing ofCo., Co. engaged in business of Financing ofCo., Co. engaged in business of Financing ofCo., Co. engaged in business of Financing of
Cos., a Co. providing Infrastructural facilitiesCos., a Co. providing Infrastructural facilitiesCos., a Co. providing Infrastructural facilitiesCos., a Co. providing Infrastructural facilities
Acquisitions by :Acquisitions by :Acquisitions by :Acquisitions by :----
NBFC whose principal business is acquiringNBFC whose principal business is acquiringNBFC whose principal business is acquiringNBFC whose principal business is acquiring
SecuritiesSecuritiesSecuritiesSecurities
AAAA Company whose principal business isCompany whose principal business isCompany whose principal business isCompany whose principal business is
acquisition of securitiesacquisition of securitiesacquisition of securitiesacquisition of securities
Right Issue.Right Issue.Right Issue.Right Issue.
Lunawat & Co.

PENALTIES 186PENALTIES 186PENALTIES 186PENALTIES 186
On companyOn companyOn companyOn company
Minimum Rs.25000/Minimum Rs.25000/Minimum Rs.25000/Minimum Rs.25000/----
Maximum Rs.5,00,000/Maximum Rs.5,00,000/Maximum Rs.5,00,000/Maximum Rs.5,00,000/----
On every Officer in DefaultOn every Officer in DefaultOn every Officer in DefaultOn every Officer in Default
Imprisonment up to 2Imprisonment up to 2Imprisonment up to 2Imprisonment up to 2 yrsyrsyrsyrs; or; or; or; or
FineFineFineFine
Minimum Rs.25000/Minimum Rs.25000/Minimum Rs.25000/Minimum Rs.25000/----
Maximum Rs.1,00,000/Maximum Rs.1,00,000/Maximum Rs.1,00,000/Maximum Rs.1,00,000/----; or; or; or; or
bothbothbothboth
43
Lunawat & Co.

FORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSS
Particulars Note
No.
Figures for
the CRP
Figure for
the PRP
I. Revenue from operations 21
II. Other income 22
III Total Revenue (I + II)
Iv. Expenses 23
V. Profit before exceptional and extraordinary items and tax (III - IV)
VI. Exceptional items 24
VII. Profit before extraordinary items and tax (V-VI)
VIII. Extraordinary items 25
IX. Profit before tax (VII-VIII)
X. Tax Expenses 26
XI. Profit (loss) for the period from continuing operations (IX-X)
XII Profit (Loss) from the discontinuing business 27
XIII Tax expenses of discontinuing operations 28
XIV. Profit (Loss) from discontinuing operations (after tax) (XII-XIV)
XV. Profit (Loss) for the period (XI+XIV) 29
XVI. Earnings per equity share
Lunawat & Co.

REVENUE FROM OPERATIONSREVENUE FROM OPERATIONSREVENUE FROM OPERATIONSREVENUE FROM OPERATIONS
For companies other than finance company:For companies other than finance company:For companies other than finance company:For companies other than finance company:
Sale of ProductsSale of ProductsSale of ProductsSale of Products
Sale of ServicesSale of ServicesSale of ServicesSale of Services
Other Operating RevenuesOther Operating RevenuesOther Operating RevenuesOther Operating Revenues
Less: Excise DutyLess: Excise DutyLess: Excise DutyLess: Excise Duty
For Finance company:For Finance company:For Finance company:For Finance company:
InterestInterestInterestInterest
Other Financial servicesOther Financial servicesOther Financial servicesOther Financial services
As per AS 9 presentation for excise dutyAs per AS 9 presentation for excise dutyAs per AS 9 presentation for excise dutyAs per AS 9 presentation for excise duty ---- onononon
face of PLface of PLface of PLface of PL
Lunawat & Co.

OTHER INCOMEOTHER INCOMEOTHER INCOMEOTHER INCOME
To be classified as:To be classified as:To be classified as:To be classified as:
Interest income (other than for finance company)Interest income (other than for finance company)Interest income (other than for finance company)Interest income (other than for finance company)
DividendDividendDividendDividend
Dividend from subsidiary companyDividend from subsidiary companyDividend from subsidiary companyDividend from subsidiary company
Net gain / loss on sale of investmentsNet gain / loss on sale of investmentsNet gain / loss on sale of investmentsNet gain / loss on sale of investments
Other nonOther nonOther nonOther non----operating incomeoperating incomeoperating incomeoperating income
Interest, dividend, etc. to be disclosed separatelyInterest, dividend, etc. to be disclosed separatelyInterest, dividend, etc. to be disclosed separatelyInterest, dividend, etc. to be disclosed separately
for Current as well as Non Current Investmentsfor Current as well as Non Current Investmentsfor Current as well as Non Current Investmentsfor Current as well as Non Current Investments
Other Income be shown net off expenses.Other Income be shown net off expenses.Other Income be shown net off expenses.Other Income be shown net off expenses.
However expenses so netted off are to be shownHowever expenses so netted off are to be shownHowever expenses so netted off are to be shownHowever expenses so netted off are to be shown
separately.separately.separately.separately.
Lunawat & Co.

EXPENSESEXPENSESEXPENSESEXPENSES
Disclosure on face of the PL:Disclosure on face of the PL:Disclosure on face of the PL:Disclosure on face of the PL:
Cost of material consumedCost of material consumedCost of material consumedCost of material consumed
Purchase of stockPurchase of stockPurchase of stockPurchase of stock----inininin----tradetradetradetrade
Changes in inventories of finished goodsChanges in inventories of finished goodsChanges in inventories of finished goodsChanges in inventories of finished goods
WorkWorkWorkWork----inininin----progress and stock in tradeprogress and stock in tradeprogress and stock in tradeprogress and stock in trade
Employee benefit expensesEmployee benefit expensesEmployee benefit expensesEmployee benefit expenses
Finance costFinance costFinance costFinance cost
Depreciation and amortization expensesDepreciation and amortization expensesDepreciation and amortization expensesDepreciation and amortization expenses
Other expenses.Other expenses.Other expenses.Other expenses.
Lunawat & Co.

FINANCE COSTFINANCE COSTFINANCE COSTFINANCE COST
Interest expenseInterest expenseInterest expenseInterest expense
Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.
Finance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interest
Other borrowing costsOther borrowing costsOther borrowing costsOther borrowing costs
Commitment chargesCommitment chargesCommitment chargesCommitment charges
Loan processing chargesLoan processing chargesLoan processing chargesLoan processing charges
Guarantee chargesGuarantee chargesGuarantee chargesGuarantee charges
Loan facilitation chargesLoan facilitation chargesLoan facilitation chargesLoan facilitation charges
Discounts/ premium on borrowingsDiscounts/ premium on borrowingsDiscounts/ premium on borrowingsDiscounts/ premium on borrowings
Other ancillaryOther ancillaryOther ancillaryOther ancillary costscostscostscosts
Applicable net loss on foreign currency transactions toApplicable net loss on foreign currency transactions toApplicable net loss on foreign currency transactions toApplicable net loss on foreign currency transactions to
the extent they are regarded as adjust to interest costthe extent they are regarded as adjust to interest costthe extent they are regarded as adjust to interest costthe extent they are regarded as adjust to interest cost
Interest on Tax???Interest on Tax???Interest on Tax???Interest on Tax???
Lunawat & Co.

OTHER EXPENSESOTHER EXPENSESOTHER EXPENSESOTHER EXPENSES
All other expenses will be grouped here. Following to beAll other expenses will be grouped here. Following to beAll other expenses will be grouped here. Following to beAll other expenses will be grouped here. Following to be
disclosed separately:disclosed separately:disclosed separately:disclosed separately:
Consumption of stores and sparesConsumption of stores and sparesConsumption of stores and sparesConsumption of stores and spares
Power and fuelPower and fuelPower and fuelPower and fuel
RentRentRentRent
Repairs to buildingsRepairs to buildingsRepairs to buildingsRepairs to buildings
Repairs to machineryRepairs to machineryRepairs to machineryRepairs to machinery
InsuranceInsuranceInsuranceInsurance
Rates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on income
Miscellaneous expensesMiscellaneous expensesMiscellaneous expensesMiscellaneous expenses
Any expenditure which exceeds 1% of revenue fromAny expenditure which exceeds 1% of revenue fromAny expenditure which exceeds 1% of revenue fromAny expenditure which exceeds 1% of revenue from
operations or Rs.1 L whichever is higheroperations or Rs.1 L whichever is higheroperations or Rs.1 L whichever is higheroperations or Rs.1 L whichever is higher ---- separateseparateseparateseparate
Lunawat & Co.

NOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTS
Contingent LiabilitiesContingent LiabilitiesContingent LiabilitiesContingent Liabilities / Commitments/ Commitments/ Commitments/ Commitments (to the(to the(to the(to the
extent not provided for)extent not provided for)extent not provided for)extent not provided for)
BroadBroadBroadBroad HeadsHeadsHeadsHeads –––– RM , Income, PurchasesRM , Income, PurchasesRM , Income, PurchasesRM , Income, Purchases
Value of imports made during the year on CIFValue of imports made during the year on CIFValue of imports made during the year on CIFValue of imports made during the year on CIF
basisbasisbasisbasis::::----
Raw MaterialsRaw MaterialsRaw MaterialsRaw Materials
Components (intermediaries & components) &Components (intermediaries & components) &Components (intermediaries & components) &Components (intermediaries & components) &
Spare Parts (for capital equipment)Spare Parts (for capital equipment)Spare Parts (for capital equipment)Spare Parts (for capital equipment)
Capital GoodsCapital GoodsCapital GoodsCapital Goods
Lunawat & Co.

Exp. in foreign currency (accrual basis) on:Exp. in foreign currency (accrual basis) on:Exp. in foreign currency (accrual basis) on:Exp. in foreign currency (accrual basis) on:
RoyaltyRoyaltyRoyaltyRoyalty
KnowKnowKnowKnow----howhowhowhow
Professional & consultation feeProfessional & consultation feeProfessional & consultation feeProfessional & consultation fee
InterestInterestInterestInterest
OthersOthersOthersOthers
Dividend ifDividend ifDividend ifDividend if paid inpaid inpaid inpaid in FC (cash Basis):FC (cash Basis):FC (cash Basis):FC (cash Basis):
Total amount remitted during the year inTotal amount remitted during the year inTotal amount remitted during the year inTotal amount remitted during the year in FCFCFCFC
TotalTotalTotalTotal no.no.no.no. of nonof nonof nonof non----resident shareholdersresident shareholdersresident shareholdersresident shareholders
NNNNo.o.o.o. of shares held by them on which dividendof shares held by them on which dividendof shares held by them on which dividendof shares held by them on which dividend duedueduedue
Year to which dividend relatesYear to which dividend relatesYear to which dividend relatesYear to which dividend relates
Lunawat & Co.

Foreign Exchange Earnings (AccrualForeign Exchange Earnings (AccrualForeign Exchange Earnings (AccrualForeign Exchange Earnings (Accrual
basis):basis):basis):basis):
Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)
Royalty, know how, professional andRoyalty, know how, professional andRoyalty, know how, professional andRoyalty, know how, professional and
consultation feesconsultation feesconsultation feesconsultation fees
Interest and dividendsInterest and dividendsInterest and dividendsInterest and dividends
Other income (indicating the nature thereof)Other income (indicating the nature thereof)Other income (indicating the nature thereof)Other income (indicating the nature thereof)
Lunawat & Co.

OTHER DISCLOSURESOTHER DISCLOSURESOTHER DISCLOSURESOTHER DISCLOSURES IN NOTESIN NOTESIN NOTESIN NOTES
To disclose in FS full particulars of:To disclose in FS full particulars of:To disclose in FS full particulars of:To disclose in FS full particulars of:
Loan given;Loan given;Loan given;Loan given;
Investment made;Investment made;Investment made;Investment made;
Guarantee given; orGuarantee given; orGuarantee given; orGuarantee given; or
Security Provided.Security Provided.Security Provided.Security Provided.
Purpose for which loan or guarantee or security isPurpose for which loan or guarantee or security isPurpose for which loan or guarantee or security isPurpose for which loan or guarantee or security is
proposed to beproposed to beproposed to beproposed to be utilisedutilisedutilisedutilised by recipient of loan orby recipient of loan orby recipient of loan orby recipient of loan or
guarantee or security [186(4)]guarantee or security [186(4)]guarantee or security [186(4)]guarantee or security [186(4)]
Contribution duringContribution duringContribution duringContribution during yryryryr to Nationalto Nationalto Nationalto National DefenceDefenceDefenceDefence FundFundFundFund
AAAAmount contributed to Political Party and namemount contributed to Political Party and namemount contributed to Political Party and namemount contributed to Political Party and name
of partyof partyof partyof party [182(3)][182(3)][182(3)][182(3)]
Lunawat & Co.

OTHER DISCLOSURESOTHER DISCLOSURESOTHER DISCLOSURESOTHER DISCLOSURES IN NOTESIN NOTESIN NOTESIN NOTES
Public Companies:Public Companies:Public Companies:Public Companies:
Money received from directorMoney received from directorMoney received from directorMoney received from director
Private companiesPrivate companiesPrivate companiesPrivate companies
Money received from directorMoney received from directorMoney received from directorMoney received from director
Money received fromMoney received fromMoney received fromMoney received from relative of directorrelative of directorrelative of directorrelative of director
Lunawat & Co.

Entities that are toEntities that are toEntities that are toEntities that are to
follow ASfollow ASfollow ASfollow AS
CorporateCorporateCorporateCorporate
(Accounting(Accounting(Accounting(Accounting
Standards)Standards)Standards)Standards)
Rules, 2006Rules, 2006Rules, 2006Rules, 2006
IndIndIndInd ASASASAS ICDSICDSICDSICDS
NonNonNonNon----
CorporateCorporateCorporateCorporate
AS issuedAS issuedAS issuedAS issued
by ICAIby ICAIby ICAIby ICAI
ICDSICDSICDSICDS
Lunawat & Co.Lunawat & Co.Lunawat & Co.Lunawat & Co.
ACCOUNTING STANDARDSACCOUNTING STANDARDSACCOUNTING STANDARDSACCOUNTING STANDARDS

AS DISCLOSURES IN NOTESAS DISCLOSURES IN NOTESAS DISCLOSURES IN NOTESAS DISCLOSURES IN NOTES
SMC / NonSMC / NonSMC / NonSMC / Non---- SMCSMCSMCSMC
AS 1AS 1AS 1AS 1
FS to be preparedFS to be preparedFS to be preparedFS to be prepared in compliance ofin compliance ofin compliance ofin compliance of
ASASASAS
FS has to be AS compliant:FS has to be AS compliant:FS has to be AS compliant:FS has to be AS compliant:
FS to disclose deviation from ASFS to disclose deviation from ASFS to disclose deviation from ASFS to disclose deviation from AS
Reason for deviationReason for deviationReason for deviationReason for deviation
Financial effect arising of deviationFinancial effect arising of deviationFinancial effect arising of deviationFinancial effect arising of deviation
Lunawat & Co.

AS APPLICABILITYAS APPLICABILITYAS APPLICABILITYAS APPLICABILITY
AS
No.
Short Title Corporate Non- Corporate Entities
Non-SMC SMC Level I Level II Level III
1 Accounting Policies Y Y Y Y Y
2 Inventories Y Y Y Y Y
3 Cash Flow Y N (C) Y N N
4 Events after Balance Sheet date Y Y Y Y Y
5 Prior Period Items & Policies Y Y Y Y Y
6 Depreciation Y Y Y Y Y
7 Construction Y Y Y Y Y
9 Revenue Y Y Y Y Y
10 Fixed Assets Y Y Y Y Y
11 Foreign Exchange Y Y Y Y Y
12 Government Grants Y Y Y Y Y
13 Investments Y Y Y Y Y
14 Amalgamations Y Y Y Y Y
15 Employee Benefits Y Partly Y Partly Partly

AS APPLICABILITYAS APPLICABILITYAS APPLICABILITYAS APPLICABILITY
16 Borrowing Cost Y Y Y Y Y
17 Segment Y N Y N N
18 Related Party Y Y Y Y N
19 Leases Y Partly Y Partly Partly
20 Earning Per Share Y Partly Y Partly Partly
21 Consolidation Y (listed) N (C) Y (listed) N N
22 Deferred Taxes Y Y Y Y Y
23 Consolidated Statements Y (listed) N (C) Y (listed) N N
24 Discontinuing Operation Y Y Y Y N
25 Interim Reporting Y (listed) N** Y (listed) N** N**
26 Intangible Assets Y Y Y Y Y
27 Interest in Joint Ventures Y (listed) N (C) Y (listed) N N
28 Impairment Y Partly Y Partly Partly
29 Contingency Y Partly Y Partly Partly

AUDITAUDITAUDITAUDIT
Lunawat & Co.

Lunawat & Co.
AUDIT PROCEDUREAUDIT PROCEDUREAUDIT PROCEDUREAUDIT PROCEDURE
AppointmentAppointmentAppointmentAppointment EngagementEngagementEngagementEngagement UnderstandingUnderstandingUnderstandingUnderstanding
the Clientthe Clientthe Clientthe Client
PlanningPlanningPlanningPlanning
• MaterialityMaterialityMaterialityMateriality
• Risk AssessmentRisk AssessmentRisk AssessmentRisk Assessment
ExecutionExecutionExecutionExecution
•Audit ProgramAudit ProgramAudit ProgramAudit Program
•ChecklistsChecklistsChecklistsChecklists
•SAsSAsSAsSAs
RepresentationsRepresentationsRepresentationsRepresentations
•MRMRMRMR
•CertificatesCertificatesCertificatesCertificates
ReportingReportingReportingReporting
Billings /Billings /Billings /Billings /
CollectionsCollectionsCollectionsCollections

AUDITING STANDARDSAUDITING STANDARDSAUDITING STANDARDSAUDITING STANDARDS
Auditor to comply with auditing standardsAuditor to comply with auditing standardsAuditor to comply with auditing standardsAuditor to comply with auditing standards
NFRA to notify auditing standards. Till NFRANFRA to notify auditing standards. Till NFRANFRA to notify auditing standards. Till NFRANFRA to notify auditing standards. Till NFRA
doesdoesdoesdoes –––– as by ICAIas by ICAIas by ICAIas by ICAI
Total 38 SAsTotal 38 SAsTotal 38 SAsTotal 38 SAs
Lunawat & Co.
SA. No.SA. No.SA. No.SA. No. SubSubSubSub----divisiondivisiondivisiondivision No.No.No.No.
100100100100----199199199199 Introductory MattersIntroductory MattersIntroductory MattersIntroductory Matters 0000
200200200200----299299299299 General Principles & ResponsibilitiesGeneral Principles & ResponsibilitiesGeneral Principles & ResponsibilitiesGeneral Principles & Responsibilities 9999
300300300300----499499499499 Risk Assessment and Response to Assessed RisksRisk Assessment and Response to Assessed RisksRisk Assessment and Response to Assessed RisksRisk Assessment and Response to Assessed Risks 6666
500500500500----599599599599 Audit EvidenceAudit EvidenceAudit EvidenceAudit Evidence 11111111
600600600600----699699699699 Using Work of OthersUsing Work of OthersUsing Work of OthersUsing Work of Others 3333
700700700700----799799799799 Audit Conclusions and ReportingAudit Conclusions and ReportingAudit Conclusions and ReportingAudit Conclusions and Reporting 6666
800800800800----899899899899 Specialized AreasSpecialized AreasSpecialized AreasSpecialized Areas 3333

Lunawat & Co.
Audit ReportsAudit ReportsAudit ReportsAudit Reports
ActActActAct
CAROCAROCAROCARO
NonNonNonNon----
CAROCAROCAROCARO
Other ActsOther ActsOther ActsOther Acts
TaxTaxTaxTax
AuditAuditAuditAudit
FormFormFormForm
3CA3CA3CA3CA
FormFormFormForm
3CB3CB3CB3CB
LLPLLPLLPLLP SocietySocietySocietySociety

COMPNY’SCOMPNY’SCOMPNY’SCOMPNY’S AUDIT REPORTAUDIT REPORTAUDIT REPORTAUDIT REPORT
Inquiry u/s 143(1)Inquiry u/s 143(1)Inquiry u/s 143(1)Inquiry u/s 143(1) –––– 6 points6 points6 points6 points
To be reported when commentsTo be reported when commentsTo be reported when commentsTo be reported when comments
requiredrequiredrequiredrequired
Report to also include:Report to also include:Report to also include:Report to also include:
Matters specified u/s 143(3)Matters specified u/s 143(3)Matters specified u/s 143(3)Matters specified u/s 143(3) ---- 9 points9 points9 points9 points
Matters specified in RulesMatters specified in RulesMatters specified in RulesMatters specified in Rules ---- 3 points3 points3 points3 points
AnyAnyAnyAny order madeorder madeorder madeorder made u/s 143(3) foru/s 143(3) foru/s 143(3) foru/s 143(3) for
specified Companies in consultationspecified Companies in consultationspecified Companies in consultationspecified Companies in consultation
with NFRAwith NFRAwith NFRAwith NFRA –––– CARO 2016CARO 2016CARO 2016CARO 2016 –––– 16 points16 points16 points16 points
Lunawat & Co.

Lunawat & Co.
THE ONLY WAYTHE ONLY WAYTHE ONLY WAYTHE ONLY WAY

CA. Pramod JainCA. Pramod JainCA. Pramod JainCA. Pramod Jain
pramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.compramodjain@lunawat.com
+91 9811073867+91 9811073867+91 9811073867+91 9811073867
© 2017 CA. Pramod Jain, Lunawat & Co

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