1. The Companies (Acceptance of Deposits) Second Amendment Rules, 2015
The
Ministry of Corporate Affairs has vide notification dated 15th
September 2015 amended the Companies (Acceptance of Deposits) Rules,
2014. In rule 2, in subrule (1), in clause (c), for sub-clause (viii),
the following is substituted :
“(viii) any amount received from a
person who, at the time of the receipt of the amount, was a director of
the company or a relative of the director of the private company:
Provided
that the director of the company or relative of the director of the
private company, as the case may be, from whom money is received,
furnishes to the company at the time of giving the money, a declaration
in writing to the effect that the amount is not being given out of funds
acquired by him by borrowing or accepting loans or deposits from others
and the company shall disclose the details of money so accepted in the
Board’s report;”.
In rule 3, for the words “paid-up share
capital and free reserves”, wherever they occur, the words “paid-up
share capital, free reserves and securities premium account” shall be
substituted;”
2. Companies (Filing of documents and forms in XBRL ) Rules, 2015
The
Ministry of Corporate Affairs has vide notification dated 9th September
2015 issued the Companies (Filing of Documents and Forms in Extensible
Business Reporting Language) Rules, 2015. As per the said rules, all
listed Companies and their Indian subsidiaries or Companies having a
paid up capital of Rs.5 crore or Companies having turnover of Rs. 100
crore and above or Companies which were covered under the Companies
(Filing of Documents and Forms in Extensible Business Reporting
Language) Rules 2011 shall file the financial statements with the
Central Government using the XBRL taxonomy for the financial years
commencing 1st April 2014.
The rules further specify that
companies that are required to file the cost audit report and other
documents with the Central Government shall do so using the XBRL
taxonomy for the financial years commencing 1st April 2014.
3. Companies (Management and Administration) Amendment Rules, 2015
The
Ministry of Corporate Affairs has vide notification dated 28th August
2015 issued the Companies (Management and Administration) Amendment
Rules, 2015. As per the amendment, Rule 23 which pertains to special
notice to be given to the Company, the words “not more than five lakh
rupees” is substituted by the words “not less than five lakh rupees”.
The contents of Form MGT-7 for the Annual Return of the Company have been modified.
4. Companies (Accounts) Second Amendment Rules 2015
The
Ministry of Corporate Affairs has vide notification dated 4th September
2015 issued the Companies (Accounts) Second Amendment Rules 2015.
Following clauses have been inserted:
Rule 2 ( 1) (da)
‘Indian Accounting Standards “means the Indian Accounting Standards
referred to in rule 3 and Annexure to the Companies (Indian Accounting
Standards) Rules 2015
Rule 4A : Forms and items contained in the Financial Statements :
The financial statements shall be in the form specified in Schedule III
to the Act and comply with Accounting Standards or Indian Accounting
Standards as applicable. Provided that the items contained in the
financial statements shall be prepared in accordance with the
definitions and other requirements specified in the Accounting Standards
or the Indian Accounting Standards as the case may be.
The Ministry has also released the contents of the following forms
AOC – 4 [Earlier Forms 23 AC & 23 ACA] – Form for filing Financial Statements & other documents with the Registrar &
AOC – 4 CFS –
Form for filing Consolidated Financial Statements & other documents
with the Registrar, both to be filed with certification by CA/CS/CMA.
5. Alterations to Schedule III of Companies Act 2013
The
Ministry of Corporate Affairs has vide notification dated 4th September
2015 made the following alterations to Schedule III (General
Instructions for Preparation of Balance Sheet and Statement of Profit
and Loss Account) In Part I Balance sheet under the heading “Equity and
liabilities” for the term trade payables the following shall be
substituted:
Trade payables:
Total outstanding dues of micro enterprises and small enterprises.
Total outstanding dues of creditors other than micro enterprises and small enterprises.
Additional disclosures in Notes in relation to Micro, Small and Medium Enterprises have also been prescribed.
