1. SCOPE OF DISCUSSION
1. ANNUAL COMPLIANCES:
FORM AOC 4 – Filing of Financial Statement
FORM MGT 7 – Annual Returns
FORM ADT 1 – Auditor Appointment
FORM MGT 14 for Quarterly and yearly financials.
Secretarial updation – Minutes, Notices, Declarations, Attendance Registers, Stat. Register, Share Certificates etc.
2. FORMATION OF COMPANY:
FORMS
ATTACHMENTS
PROECDURE

2. FORM AOC 4 FOR FILING OF AUDIT REPORT, BALANCE SHEET, PROFIT & LOSS ACCOUNT AND BOARD REPORT
VIKAS R CHOMAL
VIKAS R CHOMAL & ASSOCIATES & TARDE MARK AGENT
PRACTISING COMPANY SECRETARY /

3. ABOUT FOR AOC 4
Section 137 – talks about filing of Form with ROC within 30 days of AGM.
OPC within 180 days from closure of FY.
Penalty for non-compliance - Section 403 & 441:
Company – Rs. 1K for everyday of continues failure but not more than 10 Lakhs.
MD, CFO in their absence any director charged with duty to file and in his absence all directors – Imprisonment for term of 6 months or fine not less than 1 Lakh Rs. upto 5 Lakhs Rs. Or both.
In earlier Act MCA was not serious about penalties but they are in new Act.

4. DEFINITIONS
Accounting standards - means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;
Associate Company - in relation to another company, means a company in which that other company has a significant influence, but which is not a subsidiary company of the company having such influence and includes a joint venture company.
Explanation.—
“Significant influence” means control of at least 20% of total Voting power or control or participation in business decisions under an agreement;
“Joint Venture” means a joint arrangement whereby the parties that have joint control of the arrangements have rights to the net assets of the arrangement.

5. Book and paper and book or paper - include books of account, deeds, vouchers, writings, documents, minutes and registers maintained on paper or in electronic form;
Books of account - includes records maintained in respect of –
(i) all sums of money received and expended by a company and matters in relation to which the receipts and expenditure take place;
(ii) all sales and purchases of goods and services by the company;
(iii) the assets and liabilities of the company; and
(iv) the items of cost as may be prescribed under section 148 in the case of a company which belongs to any class of companies specified under that section;

6. Dormant Company:
is a company formed for some future contract/transaction or to hold an asset or IPR and has not done significant account transactions or is in active company can make application to Registrar to get dormant status.

7. Financial statement - in relation to a company, includes -
(i) a balance sheet as at the end of the financial year;
(ii) a profit and loss account, or in the case of a company carrying on any activity not for profit, an income and expenditure account for the financial year;
(iii) cash flow statement for the financial year;
(iv) a statement of changes in equity, if applicable; and
(v) any explanatory note annexed to, or forming part of, any document referred to in sub-clause (i) to sub-clause (iv):
Provided that the financial statement, with respect to One Person Company, small company and dormant company, may not include the cash flow statement.

8. Financial year - in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up:
Provided that on an application made by a company or body corporate, which is a holding company or a subsidiary of a company incorporated outside India and is required to follow a different financial year for consolidation of its accounts outside India, the Tribunal may, if it is satisfied, allow any period as its financial year, whether or not that period is a year:
Provided further that a company or body corporate, existing on the commencement of this Act, shall, within a period of two years from such commencement, align its financial year as per the provisions of this clause;

9. Holding Company in relation to one or more other companies means a company of which such companies are subsidiary companies.
*Expression Company includes any Body Corporate.

10. Key Managerial Personal:
―Key managerial personnel" in relation to a company, means—
(i) the Chief Executive Officer or the managing director or the manager;
(ii) the company secretary;
(iii) the whole-time director;
(iv) the Chief Financial Officer;
(v) such other officer, not more than one level below the directors who is in whole-time employment, designated as key managerial personnel by the Board; and
(vi) such other officer as may be prescribed;

11. Net worth - means the aggregate value of the paid-up share capital + all reserves created out of the profits, securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation;

12. Small company - means a company, other than a public company,-
(i) paid-up share capital does not exceed Rs.50/- Lakhs or such higher amount as may be prescribed which shall not be more than Rs.10 Cr.; or
(ii) turnover of which as per profit and loss account for the immediately preceding financial year does not exceed Rs.2 Cr. or such higher amount as may be prescribed which shall not be more than Rs.100 Cr. :
Provided that nothing in this clause shall apply to –
(A) a holding company or a subsidiary company;
(B) a company registered under section 8; or
(C) a company or body corporate governed by any special Act.

13. Subsidiary company” or “subsidiary –
in relation to any other company (that is to say the holding company), means a company in which the holding company -
(i) controls the composition of the Board of Directors; or
(ii) exercises or controls more than one-half of the total voting power either at its own or together with one or more of its subsidiary companies:
*Expression Company includes Body Corporate.

14. ―Turnover means the gross amount of revenue recognised in the profit and loss account from the sale, supply or distribution of goods or on account of services rendered, or both, by a company during a financial year;

15. APPLICABILITY OF CARO All Companies except:
Banking/Insurance Companies.
OPC, Sec 8 Company and Small Company.
Private Limited Companies having:
PUC + Reserves & Surplus less than 1 Cr.
Loans outstanding less than 1 Cr from bank or financial institution.
T/O Less than 10 Cr.
at any point of time during the year.

16. APPLICABILITY OF CSR Every company having: Networth Rs. 500 Cr or more
T/o Rs Cr or more
Net Profits 5 Cr or more
Shall constitute CSR Committee and comply with CSR rules.

17. Applicability of Cash Flow Statement
Is not applicable to :
OPC, Small Companies, Dormant Company.

18. Applicability of Secretarial Audit
All Listed Companies.
Any public companies with paid up capital of Rs.50 Cr. or more
Any Public companies with T/o 250 Cr. or more
Not applicable to Pvt Cos.

19. DOCUMENTS REQUIRED FOR FILING
Ask Client for:
Auditor Report.
Director Report.
- MGT 9, Shareholding Pattern, CSR Details, AOC I, AOC II, Secretarial Audit Report, Details of Energy Conservation, Technology Absorption & Foreign Exchange Earnings and Outgo.
Balance Sheet.
Statement of Profit & Loss .
Cash Flow Statement.
Accounting Policies and.
Notes to Accounts.
Digital Signature of any one Director.

20. Workshop