August 2014

Preparation of Financial Report for the year ended on or before 31.3.2014

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There would be applicability of multiple companies Act (1956 & 2013) at the time of preparation of financial reports and conducting audits. MCA & ICAI has issued following clarifications regarding applicability of the Act and format etc. General Circular No 8 of 2014 – Format of balance sheets & audit Report for the FY ending …

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What is the real exemption under section 185 & 186 through holding subsidiary relationship?

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Companies Act 2013 is bundled with many path breaking provisions for private limited entities. Among those  most vivacious provisions are restriction on granting of loans to directors or their related parties and group companies through section 185 & 186. First time in the history restrictions were placed on fund transfers between related entities and hence …

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