The MCA has notified the Companies (Accounts) Amendment Rules, from time to time, to amend the formats for financial statements/ other documents prepared by the companies under the Companies act, 2013.
MCA Notifies Companies (Accounts) Amendment Rules, 2018: Companies under Ind AS Rules to forward their Abridged Financial Statement in new Form AOC-3A
The MCA has notified the Companies (Accounts) Amendment Rules, 2018. A new proviso to Rule 10 has been inserted for Companies under Ind AS Rules, 2015 to forward their Abridged Financial Statement in Form AOC-3A, as under:
Companies (Accounts) Amendment Rules, 2018: MCA Notification dt. 27 Feb. 2018
G.S.R.. (E).-In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134, sub-section (1) of 136 read with 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. (1) These rules may be called the Companies (Accounts) Amendment Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Accounts) Rules, 2014 (hereinafter referred to as the principal rules), in rule 10, the following proviso shall be inserted, namely:-
“Provided that the Companies which are required to comply with Companies (Indian Accounting Standards) Rules, 2015 shall forward their statement in Form AOC-3A.”.
3. In the principal rules, in the Annexure, after Form ADC-3, the following Form shall be inserted, namely:-
“FORM AOC-3A
Statement containing salient features of the financial statements
(Division II- Schedule III to the Companies Act, 2013)
(Pursuant to first proviso to sub-section (1) of section 136 of the Act and proviso to rule 10 of the Companies (Accounts) Rules, 2014)
Form of Abridged Financial Statements
(contd… please refer attachment)
MCA Notifies the Companies (Accounts) Amendment Rules, 2017
MCA has notified the Companies (Accounts) Amendment Rules, 2017, applicable w.e.f. 7 Nov. 2017, i.e. amended e-form AOC-4 for ROC filing of financial statements/ other documents by certain companies u/s 137 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, as under:
Companies (Accounts) Amendment Rules, 2017: MCA Notification dt. 7 Nov. 2017
G.S.R. 1371(E).—In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with 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. (1) These rules may be called the Companies (Accounts) Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Accounts) Rules, 2014, in Annexure, for form AOC-4, the following Form shall be substituted, namely:-
FORM NO. AOC-4
[Pursuant to section 137 of the Companies Act, 2013 and sub-rule (1) of Rule 12 of Companies (Accounts) Rules, 2014]
Form for filing financial statement and other documents with the Registrar
(contd… please refer above attachment for format/ details)
Note : The principal notification was published in the Gazette of India vide No. G.S.R. 239(E), dated 31.03.2014 and was amended vide notification number G.S.R. 723(E) dated 14.10.2014, G.S.R. 37(E) dated 16.01.2015, G.S.R. 680(E) dated 04.09.2015 and G.S.R. 742(E) dated 27.07.2016.
MCA Notifies the “Companies (Accounts) Amendment Rules, 2016”
The Ministry of Corporate Affairs (MCA), vide Notification dt. 27 July 2016, has notified the Companies (Accounts) Amendment Rules, 2016, as under:
MCA Notification dt. 27 July 2016 Companies (Accounts) Amendment Rules, 2016
In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with 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. (1) These rules may be called the Companies (Accounts) Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Accounts) Rules, 2014, (hereinafter referred to as principal rules), in rule 6, for the second proviso, the following proviso shall be substituted namely:-
“Provided further that nothing in this rule shall apply in respect of preparation of consolidated financial statements by a company if it meets the following conditions:-
(i) it is a wholly-owned subsidiary, or is a partially-owned subsidiary of another company and all its other members, including those not otherwise entitled to vote, having been intimated in writing and for which the proof of delivery of such intimation is available with the company, do not object to the company not presenting consolidated financial statements;
(ii) it is a company whose securities are not listed or are not in the process of listing on any stock exchange, whether in India or outside India; and
(iii) its ultimate or any intermediate holding company files consolidated financial statements with the Registrar which are in compliance with the applicable Accounting Standards.”
3. In rule 8 of the principal rules, in sub-rule (1), for the words “and the report shall contain a separate section wherein a report on the performance and financial position of each of the subsidiaries, associates and joint venture companies included in the consolidated financial statement is presented”, the words “and shall report on the highlights of performance of subsidiaries, associates and joint venture companies and their contribution to the overall performance of the company during the period under report” shall be substituted.
4. In rule 13 of the principal rules, in sub-rule (1),-
(a) in the opening portion, the words “or a firm of internal auditors”, the words “which may be either an individual or a partnership firm or a body corporate” shall be substituted;
(b) In the Explanation, for item (ii), the following item shall be substituted, namely:
‘(ii) the term “Chartered Accountant” or “Cost Accountant” shall mean a “Chartered Accountant” or a “Cost Accountant”, as the case may be, whether engaged in practice or not’.
5. In the principal rules, in Annexure,-
(a) for form AOC-1, the following form AOC-1 shall be substituted, namely:-
“Form AOC-1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries or associate companies or joint ventures (please refer attachment for format)
(b) for form AOC-4, the following form AOC-4 shall be substituted, namely:-
“FORM NO. AOC-4
[Pursuant to section 137 of the Companies Act, 2013 and sub-rule (1) of Rule 12 of Companies (Accounts) Rules, 2014]
Form for filing financial statement and other documents with the Registrar (please refer attachment for format)
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Companies (Accounts) Amendment Rules, 2018 notified by MCA