​AOC 1 FORMAT HAS BEEN AMENDED

​
                                                AOC 1 FORMAT HAS BEEN AMENDED

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/associate companies/joint ventures

 

Part “A”: Subsidiaries

 

(Information in respect of each subsidiary to be presented with amounts in Rs.)

 

Sl. No.	Particulars	Details
1.	Sl. No.
2.	Name of the subsidiary
3.	The date since when subsidiary was acquired
4.	Reporting period for the subsidiary concerned, if different from the holding company’s reporting period
5.	Reporting currency and Exchange rate as on the last date of the relevant Financial year in the case of foreign subsidiaries
6.	Share capital
7.	Reserves & surplus
8.	Total assets
9.	Total Liabilities
10.	Investments
11.	Turnover
12.	Profit before taxation
13.	Provision for taxation
14.	Profit after taxation
15.	Proposed Dividend
16.	Extent of shareholding (In percentage)

 

Notes: The following information shall be furnished at the end of the statement:

 

1. Names of subsidiaries which are yet to commence operations

2. Names of subsidiaries which have been liquidated or sold during the year.

 

Part “B”: Associates and Joint Ventures

 

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures

 

Name of associates/Joint Ventures	Name 1	Name 2	Name 3
1.      Latest audited Balance Sheet Date
2.      Date on which the Associate or Joint Venture was associated or Acquired
3.      Shares of Associate/Joint Ventures held by the company on the year end
No.
Amount of Investment in Associates/Joint Venture
Extend of Holding (In percentage)
4.      Description of how there is significant influence
5.      Reason why the associate/joint venture is not consolidated
6.      Net worth attributable to shareholding as per latest audited Balance Sheet
7.      Profit/Loss for the year
i.                     Considered in Consolidation
ii.                   Not Considered in Consolidation

 

1. Names of associates or joint ventures which are yet to commence operations.

2. Names of associates or joint ventures which have been liquidated or sold during the year.

 

Note: This Form is to be certified in the same manner in which the Balance Sheet is to be certified.

 

MCA UPDATE-The Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016

Hello Everyone

 

MCA UPDATE

The Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016

The Ministry of Corporate Affairs has further amended the Companies (Share Capital and Debentures) Rules, 2014 whereby  in rule 18, after Sub-rule (10), the following sub-rule has been inserted, namely:-

 

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely:—

 

1. (1) These rules may be called the Companies (Share Capital and Debentures) Fourth Amendment Rules, 2016.

    (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Share Capital and Debentures) Rules, 2014, in rule 18, after Sub-rule (10), the following sub-rule shall be inserted, namely:-

 

“(11) Nothing contained in this rule shall apply to rupee denominated bonds issued exclusively to overseas investors in terms of A.P. (DIR Series) Circular No. 17 dated September 29, 2015 of the Reserve Bank of India.”.

 

​

Thanks & Regards
RAVI GARG (CS)     

91-7838204665, 

91-7830007660

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ISSUE OF PREFERENCE SHARES

CHECKLIST FOR ISSUE OF PREFERENCE SHARES

 

A.      Check whether nominal capital of company divides into Equity Share Capital and Preference Share Capital.

B.      Check whether there is Provision in Article of Association of company regarding issue of Preference shares.

C.      At the time of issue of Preference shares no subsisting default in the redemption of preference shares issued. (Rule-9(1)(b) of The Companies (Share Capital & Debentures) Rules, 2014.

D.     At the time of issue of Preference shares no subsisting default in payment of dividend due on any preference share. (Rule-9(1)(b) of The Companies (Share Capital & Debentures) Rules, 2014

 

IMPORTANT POINT TO BE KEPT IN MIND WHILE ALLOTMENT OF PREFERENCE SHARES

·         Make Allotment within 60 days of receiving of Application Money; otherwise it will treat as deposits as per deposits rules.

·         Issue Share Certificate under form-SH-1

·         Make Entry of allotment of Preference Share under Register of Member maintained in Form No. MGT-1. {As per Section-88 and the Companies (Management and administration) Rules, 2014.

 

CONDITIONS FOR ISSUE OF PREFERENCE SHARES:

A.      The Issue of Preference Shares has been authorized by Passing of Special Resolution in the General Meeting of company.

B.      Fulfill all the requirement mention in the checks above.

C.      Company requires maintaining a register under Section- 88 (Register of Member) shall contain the particulars in respect of such preference share holder(s).

D.     Things to be mentioned in the Special Resolution passed for the purpose of Issue of Preference Shares.

a)      The priority with respect to payment of dividend or repayment of capital vis-à-vis equity shares.

b)      The participation in the surplus fund.

c)      The participation in surplus assets and profit, on winding-up.

d)      The payment of dividend on cumulative or non-cumulative basis.

e)      The conversion of preference shares into equity shares.

f)       The voting rights;

g)      The redemption of preference shares.

Important Condition on Preference Shares:

A. As per section 55 of the Act, a company can issue only redeemable preference shares i.e. a company is not allowed to issue irredeemable preference shares.

B. It is mandatory for every company issuing preference shares to redeem it within a period of 20 years from the date of issue.

C. A company may issue preference shares for a period exceeding 20 (Twenty) years for infrastructure projects. Subject to Redemption of a Minimum 10% of such preference shares per year from the 21 (twenty first) year onward or earlier, on proportionate basis, at the option of preference share holder. (As per rule- 10 of The Companies (Share Capital and Debentures) Rules, 2014.

 

 

Issuance of preference shares, Explanatory Statement should mention following information: (Rule 9 of Companies (Share Capital and Debentures) Rules, 2014)

a)      Size of the issue and number of preference shares to be issued and nominal value of each share;

b)      Nature of such shares i.e. cumulative or non – cumulative, participating or non – participating, convertible or non – convertible.

c)       Objectives of the issue;

d)      Manner of issue of shares;

e)       Price at which such shares are proposed to be issued;

f)        Basis on which the price has been arrived at;

g)      Terms of issue, including terms and rate of dividend on each share, etc.;

h)      Terms of redemption, including the tenure of redemption, redemption of shares at premium and if the preference shares are convertible, the terms of conversion;

i)        Manner and modes of redemption;

j)        Current shareholding pattern of the company;

k)      Expected dilution in equity share capital upon conversion of preference shares.

 

​

Thanks & Regards

RAVI GARG (CS)     

91-7838204665, 

91-7830007660

Facebook Group

Google Group

LinkedIn

 

 

 

ISSUE OF PREFERENCE SHARES

CHECKLIST FOR ISSUE OF PREFERENCE SHARES

 

A.      Check whether nominal capital of company divides into Equity Share Capital and Preference Share Capital.

B.      Check whether there is Provision in Article of Association of company regarding issue of Preference shares.

C.      At the time of issue of Preference shares no subsisting default in the redemption of preference shares issued. (Rule-9(1)(b) of The Companies (Share Capital & Debentures) Rules, 2014.

D.     At the time of issue of Preference shares no subsisting default in payment of dividend due on any preference share. (Rule-9(1)(b) of The Companies (Share Capital & Debentures) Rules, 2014

 

IMPORTANT POINT TO BE KEPT IN MIND WHILE ALLOTMENT OF PREFERENCE SHARES

·         Make Allotment within 60 days of receiving of Application Money; otherwise it will treat as deposits as per deposits rules.

·         Issue Share Certificate under form-SH-1

·         Make Entry of allotment of Preference Share under Register of Member maintained in Form No. MGT-1. {As per Section-88 and the Companies (Management and administration) Rules, 2014.

 

CONDITIONS FOR ISSUE OF PREFERENCE SHARES:

A.      The Issue of Preference Shares has been authorized by Passing of Special Resolution in the General Meeting of company.

B.      Fulfill all the requirement mention in the checks above.

C.      Company requires maintaining a register under Section- 88 (Register of Member) shall contain the particulars in respect of such preference share holder(s).

D.     Things to be mentioned in the Special Resolution passed for the purpose of Issue of Preference Shares.

a)      The priority with respect to payment of dividend or repayment of capital vis-à-vis equity shares.

b)      The participation in the surplus fund.

c)      The participation in surplus assets and profit, on winding-up.

d)      The payment of dividend on cumulative or non-cumulative basis.

e)      The conversion of preference shares into equity shares.

f)       The voting rights;

g)      The redemption of preference shares.

Important Condition on Preference Shares:

A. As per section 55 of the Act, a company can issue only redeemable preference shares i.e. a company is not allowed to issue irredeemable preference shares.

B. It is mandatory for every company issuing preference shares to redeem it within a period of 20 years from the date of issue.

C. A company may issue preference shares for a period exceeding 20 (Twenty) years for infrastructure projects. Subject to Redemption of a Minimum 10% of such preference shares per year from the 21 (twenty first) year onward or earlier, on proportionate basis, at the option of preference share holder. (As per rule- 10 of The Companies (Share Capital and Debentures) Rules, 2014.

 

 

Issuance of preference shares, Explanatory Statement should mention following information: (Rule 9 of Companies (Share Capital and Debentures) Rules, 2014)

a)      Size of the issue and number of preference shares to be issued and nominal value of each share;

b)      Nature of such shares i.e. cumulative or non – cumulative, participating or non – participating, convertible or non – convertible.

c)       Objectives of the issue;

d)      Manner of issue of shares;

e)       Price at which such shares are proposed to be issued;

f)        Basis on which the price has been arrived at;

g)      Terms of issue, including terms and rate of dividend on each share, etc.;

h)      Terms of redemption, including the tenure of redemption, redemption of shares at premium and if the preference shares are convertible, the terms of conversion;

i)        Manner and modes of redemption;

j)        Current shareholding pattern of the company;

k)      Expected dilution in equity share capital upon conversion of preference shares.

 

​

Thanks & Regards

RAVI GARG (CS)     

91-7838204665, 

91-7830007660

Facebook Group

Google Group

LinkedIn

 

 

 

How to Calculate fee - Authorized Share Capital of the Company

How to Calculate fee - Authorized Share Capital of the Company

Nominal Share capital	Other than OPCs and Small Companies
	Fixed (A)	For every 10,000 or part thereof (B)
Up to 1, 00, 000	5,000	N.A.
More than 1,00,000 up to 5,00,000	For 1,00,000 = 5,000                (+)	(X/10,000)*400
More than 5,00,000 up to 10,00,000	For 5,00,000 = 21000               (+)	(Y/10,000)*300
More than 10,00,000 up to 50,00,000	For 10,00,000 = 36000             (+)	(Z/10,000)*300
More than 50,00,000 up to 1,00,00,000	For 50,00,000 = 1,56,000         (+)	(A/10,000)*100
More than 1,00,00,000	For 1,00,00,000 = 2,06,000     (+)	(B/10,000)*75
	Where,	X =  TOTAL CAPITAL- 1,00,000
		Y = TOTAL CAPITAL- 5,00,000
		Z = TOTAL CAPITAL- 10,00,000
		A = TOTAL CAPITAL- 50,00,000
		B = TOTAL CAPITAL- 1,00,00,000
Eg:-
Increase in Authorised Capital From 5,00,000 to 45,00,000		from 20,00,000 to 1,20,00,000
Cost upto First 10,00,000	36,000	First 1,00,00,000	206,000
For Next 35,00,000	105000	Next 20,00,000	15,000
Total For 45,00,000	141,000	Total for 1,00,00,000	221,000
Less: For 5,00,000	21,000	Less: For 20,00,000	66,000
Concerned Fee	120,000		155,000

 

MCA LATEST UPDATES-29.06.2016-Companies (Acceptance of Deposits) Amendment Rules, 2016

MCA LATEST UPDATES-29.06.2016

MCA vide notification dated 29.06.2016 has made following amendments in Companies (Acceptance of Deposits) Amendment Rules, 2016.

• In the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter referred to as the principal rules), in rule 2 in sub_rule (1), in clause (c)-

(i)  in sub-clause (ix), for the words "five years" the words "ten years" shall be substituted; 

(ii) after sub-clause (ix), the following sub-clause shall be inserted, namely,-

 "(ixa) any amount raised by issue of non-convertible debenture not constituting a charge on the assets of the company and listed on a recognised stock exchange as per applicable regulations made by Securities and Exchange Board of India"

(iii) for sub-clause (xi), the following sub.clause shall be substituted, namely:-

"(xi) any non-interest bearing amount received and held in trust;";

• In Rule 3 of the Principal rules,-

(i) in sub-rule (3),-

(a) for the words "twenty five per cent", the words "thirty five per cent",

shall be substituted;

(b) the following proviso shall be inserted namely:

"Provided that a private company may accept from its members monies
not exceeding one hundred per cent of aggregate of the paid up share
capital, free reserves and securities premium account and such company
shall file the details of monies so accepted to the Registrar in such manner
as may be specified.".

• In rule 5 of the principal rules, in sub-rule (1), for the proviso, the following proviso shall be substituted, namely:-

"Provided that the companies may accept deposit without deposit insurance contract till the 31st March, 2017 or till the availability of a deposit insurance product, whichever is earlier.".

• In the principal rules, in the Annexure, in Form DPT-1, the following para shall be inserted, namely:-

"6. DISCLAIMER.- It is to be distinctly understood that filing of circular or circular in the Form of advertisement with the Registrar should not in any way be deemed or construed that the same has been cleared or approved by the Registrar or Central Government. The Registrar or Central Government does not take any responsibility either for the financial soundness of any deposit scheme for which the deposit is being accepted or invited or for the correctness of the statements made or opinions expressed in the circular or circular in the Form of advertisement. The depositors should exercise due diligence before investing in the deposits schemes.".

• These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2016.

 

• They shall come into force on the date of their publication in the Official Gazette.

 

 

​

Thanks & Regards,
RAVI GARG (CS)     

91-7838204665, 

91-7830007660

 

Facebook Group

 

Google Group

 

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