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First Notes

 

 

First Notes is our ‘hot, off the press’ update that aims to provide a very timely heads up on key accounting and regulatory developments that affect reporting for entities in India. It is one more way for us to connect with you, in addition to the monthly Accounting and Auditing Update.


 
MCA clarifications regarding circulation and filing of financial statements under the Companies Act, 2013

24 July 2015

 

The Ministry of Corporate Affairs (MCA) received representations from various stakeholders in relation to circulation and filing of financial statements under the Companies Act, 2013 (2013 Act). On 21 July 2015, the MCA issued a general circular no.11/2015, which provided clarifications with regard to the following provisions of the 2013 Act:

 

Section 101 – notice of meeting
Section 136 – right of member to copies of audited financial statements
Section 137 – copy of financial statements to be filed with the Registrar of Companies.

 

This issue of First Notes provides an overview of the clarifications issued by the MCA. For the text of the general circular issued by the MCA, please click here.


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