Activities covered under Schedule VII of Companies Act 2013

Schedule VII Activities

Amended Schedule-VII of Companies Act, 2013 for Activities which may be included by companies in their Corporate Social Responsibility (CSR) Policies.

Appointment of Internal Auditor in NPCC Ltd for FY 2015-2017

NPCC Internal Auditors

NPCC Ltd has invited quotations from registered CA/ CMA firms for conducting Internal Audit for a period of two financial years i.e. 2015-16 & 2016-17.

Exemption to Government Company producing Defence Equipments

Company Producing Defence Equipment

CG exempts Govt. Companies producing Defence Equipments from disclosure requirements of additional info while preparing Statement of Profit and Loss.

Notes on Ind AS-32 Financial Instruments: Presentation

Financial Instruments Presentation

Objective, Scope and Definitions of various terms like Financial Assets/ Liabilities, Equity Instruments, and Puttable Instrument etc. as per Ind AS-32.

Disclosures in Explanatory Statement for Special Business

Explanatory Statement Disclosures

Explanatory Statement pursuant to Section 102 of the Companies Act, 2013 relating to the Special Business to be transacted at a general meeting of a company.

Separate and Consolidated Financial Statement of a Company

Financial Statement of Company

Provisions related to mandatory compliance requirement for Separate and Consolidated Financial Statement of a company under section 129 of companies Act, 2013.

Accounting Standards prescribed by Central Government

CG Prescribed Ind-AS

Provisions of section 133 of the Companies Act, 2013 - Central Government to prescribe Accounting Standards read with Companies (Accounts) Rules 2014.

Authentication of Financial Statement and Directors Report

Sign Financial Statements

Financial Statements authentication and signing of Board’s Report and Directors’ Responsibility Statement under section 134 of the Companies Act.

Right of Member to Copies of Audited Financial Statement

Circulation of Financial Statement

Entitlement, Inspection and manner of circulation of audited financial statement of company under provisions of section 136 of the Companies Act 2013.

Resignation, Removal of Auditor and giving of Special Notice

Resignation Removal of Auditor

Removal, resignation of auditor of a company and giving of special notice in compliance with the provisions of section 140 of the Companies Act, 2013.

Remuneration of Auditors of Companies and its Disclosures

Remuneration of Auditors

Remuneration of Auditors (except first auditor) of company shall be determined by shareholders in general meeting as per section 142 of Companies Act 2013.

Non-audit services by Statutory Auditor or CA Firm to Company

Non Audit Services

Section 144 of Companies Act 2013 prohibits Individual Auditors or CA Firms for performing Non-audit services to Company, its Holding or Subsidiary.

Signing and Inspection of Audit Reports of a Company

Sign Audit Report

Signing audit reports by auditors, certifying other documents and open it to inspection by members of company under section 145 of Companies Act 2013.

Online CAG Empanelment of CA Firms/LLPs for Audits of PSUs

CAG Appoints CA Firms

CA firms or LLPs may apply online to get empanelled with office of CAG for appointment as auditors of Govt. Companies/ Corporations for year 2016-2017.

General Meeting Notices and Compulsory attendance by Auditors

GM Nnotice to Auditors

General meeting notices must be sent to statutory auditors who are compulsorily required to attend AGM/EGM under section 146 of Companies Act, 2013.

Penalty for not complying Sections 139-146 of Companies Act 2013

Punishment for Contravention

Company, its officers and auditor shall be punishable with imprisonment and fine for not complying provisions of sections 139-146 of Companies Act 2013.

Cost Records Audit Report of Companies by Cost Accountant

Cost Records Audit Report

Complete notes on cost records, cost audit report, appointment and remuneration of cost auditor of company under section 148 of the Companies Act 2013.

Board of Directors in Public, Private and One Person Company

Board of Directors

Appointment and Number of Individual, woman, resident and independent directors in Public, Private and One Person Company u/s 149 of Companies Act 2013.

Section 76A – Punishment for contravention of section 73 or section 76

Section 76A newly inserted by the Companies (Amendment) Act, 2015 w.e.f. 29-05-2015.

Section 79 – Section 77 to apply in certain matters

Section 79 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

Section 93 – Return to be filed with Registrar in case promoters’ stake changes

Section 93 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

Section 94 – Place of keeping and inspection of registers, returns, etc.

Section 94 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

Section 95 – Registers, etc., to be evidence

Section 95 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

Section 96 – Annual general meeting

Section 96 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.

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