There are many things they do not know or not taking appropriate action for years together!!! They themselves are not abiding to the Companies Act 1956 of 2013 !!! properly!!
What is their intentions , so many learned fellows are there in MC A !!!.
God save us.
Shah D J
On Monday, March 30, 2015 1:18 PM, "Sanjay Khandelwal skh_ca@yahoo.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com> wrote:
Dear Amresh Sir,
It is too little and too late. It appears that this clarification has intentionally been given at the fag end of the FY, when perhaps each and every private limited company may have already done what the MCA officials wanted them to do. The MCA officials had more than one year to give this clarification, which they have given now. Had this been clarified earlier, the affected companies would have not gone through the painful process. This circular could have come a bit earlier. The companies were unnecessarily forced to comply with the requirements, which they were not required to do.
May good senses prevail on the MCA and they take timely action.
CA. SANJAY KHANDELWAL
9929422950
From: "CA Amresh Vashisht caamreshvashisht@gmail.com [ICAI_CIRC_MEERUT_CA]" <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
To: icai meerut <icai_circ_meerut_ca@yahoogroups.com>; amresh_vashisht@yahoo.com
Sent: Monday, 30 March 2015 4:27 PM
Subject: {Amresh's CA's}
GENERAL CIRCULAR 5/2015: DATED 30TH MARCH 20151) Stakeholders have sought clarifications as to whether amounts received by private companies from their members, directors or their relatives prior to 1st April, 2014 shall be considered as deposits under the Companies Act, 2013 as such amounts were not treated as 'deposits' under section 58A of the Companies Act, 1956 and rules made thereunder.2.The matter has been examined in consultation with RBI and it is clarified that such amounts received by private companies prior to 16t April, 2Ol4 shall not be treated as 'deposits' under the Companies Act,2013 and Companies (Acceptance of Deposits) Rules, 2014 subject to the condition that relevant private company shall disclose, in the notes to its financial statement for the financial year commencing on or after lsi April, 2014 the figure of such amounts and the accounting head in which such amounts have been shown in the fi nancial statement.3. Any renewal or acceptance of fresh deposits on or aiter 1st April, 2014 shall, however, be in accordance with the provisions of Companies Act, 20 13 and rules made thereunder.4.This issues with the approval of the competent authority.
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Thanks & Regards,CA AMRESH VASHISHT, FCA, LLB, DISA (ICAI)Member,ICAI- Regional Research Committee 2013-14
Member,ICAI- Committee For DIRECT TAXES 2011-121 1 5, Chappel Street, Meerut Cantt, UP, INDIA.Phone: 0 1 2 1-2 6 6 1 9 4 6. Cell: 9 8 3 7 5 1 5 4 3 2.http://in.groups.yahoo.com/group/ICAI_CIRC_MEERUT_CA
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Posted by: Dipakkumar Shah <cadjshah@yahoo.com>
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