----- Forwarded Message -----
From: CA abhisheksomanica <abhisheksomanica@gmail.com>
To: ghaziabad_ca@yahoogroups.com
Sent: Friday, 23 August 2013 12:32 AM
Subject: Fwd: [Gzb_CA Group -CA. VINAY MITTAL] Spending on Corporate Social Responsibility by Companies... [1 Attachment]
From: CA abhisheksomanica <abhisheksomanica@gmail.com>
To: ghaziabad_ca@yahoogroups.com
Sent: Friday, 23 August 2013 12:32 AM
Subject: Fwd: [Gzb_CA Group -CA. VINAY MITTAL] Spending on Corporate Social Responsibility by Companies... [1 Attachment]
Dear All,
Please find attached Discussion paper submitted for revision of
Clause 41 of Equity listing agreement on 21 August 2013. This
discussion paper is submitted in line with new companies Act, it will
applicable when it is passed by requisite authorities.
Major points are:-
1) Disclosure of half yearly (every six months) consolidated
financial statements: The disclosure of half yearly (every six months)
consolidated financial statements has been made mandatory in case
there is a variation in the revenue / total assets / total liabilities
/ profits (loss) in the consolidated financial results of 20% or more
vis-à-vis the corresponding amounts in the standalone financial
results as per the last annual audited financial statements.
2) In respect of foreign subsidiaries/ joint ventures the
consolidated results shall include reviewed/ audited results of such
number of foreign subsidiaries which together with the reviewed/
audited results of all Indian subsidiaries/ joint ventures would
constitute not less than 80% of the consolidated turnover/ net worth/
profit (loss).
3) Mandatory disclosure of Book Value of equity shares half yearly
(every six months).
4) Mandatory presentation of amounts in financial statements in Rs.
Cr. with 2 decimals in order to bring consistency and easy
comparability.
5) Mandatory submission of statement of cash flow half yearly
(every six months) in addition to the statement of assets and
liabilities.
Thanks & Regards
Abhishek Somani
09899036097
Please find attached Discussion paper submitted for revision of
Clause 41 of Equity listing agreement on 21 August 2013. This
discussion paper is submitted in line with new companies Act, it will
applicable when it is passed by requisite authorities.
Major points are:-
1) Disclosure of half yearly (every six months) consolidated
financial statements: The disclosure of half yearly (every six months)
consolidated financial statements has been made mandatory in case
there is a variation in the revenue / total assets / total liabilities
/ profits (loss) in the consolidated financial results of 20% or more
vis-à-vis the corresponding amounts in the standalone financial
results as per the last annual audited financial statements.
2) In respect of foreign subsidiaries/ joint ventures the
consolidated results shall include reviewed/ audited results of such
number of foreign subsidiaries which together with the reviewed/
audited results of all Indian subsidiaries/ joint ventures would
constitute not less than 80% of the consolidated turnover/ net worth/
profit (loss).
3) Mandatory disclosure of Book Value of equity shares half yearly
(every six months).
4) Mandatory presentation of amounts in financial statements in Rs.
Cr. with 2 decimals in order to bring consistency and easy
comparability.
5) Mandatory submission of statement of cash flow half yearly
(every six months) in addition to the statement of assets and
liabilities.
Thanks & Regards
Abhishek Somani
09899036097
__._,_.___
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