[aaykarbhavan] Movement to save CA profession:Let us email/mail to MCA to exclude companies with paid up capital less than 25 crores from 20 company limit

1) Against the sentiment of CA fraternity, MCA has further reduced the 30 company audit limit fixed by ICAI to 20.

2) Small practitioners who gets audit fees as low as Rs 5000 will leave CA profession.

3) U/S 470 , Central Govt can make provisions  as appear to it to be necessary or expedient for removing the difficulty. A question arise will CG come with a definition of companies by invoking this provision for the purpose of sec 141 (3) g?  

 

 

SEC 470: POWER TO REMOVE DIFFICULTIES

(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government  may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient for removing the difficulty:

Provided that no such order shall be made after the expiry of a period of five years from the date of commencement of section 1 of this Act.

 

(2) Every order made under this section shall, as soon as may be after it is made, be laid before each House of Parliament. 

   

4) Let us request MCA to notify definition of comnapy for the purpose of sec 141 as follow:

"Company means company with a paid up capital of 25 crores or more".

5) Let us Write to MCA and make our Submissions by Email/Post

While ICAI's representation is being actively made, We the Members and Students of ICAI should also through our individual communications write to the Ministry of Corporate Affairs about the concerns and grievances that we have.

6) The email ids of the relevant officials and the MCA postal address is provided below

Name                        Email                  Designation
Shri Naved Masood secy.mca@nic.in Secretary-MCA
Shri M.J. Joseph mohan.joseph@mca.gov.in Add Secy-MCA
Ms.Renuka Kumar renuka.kumar@mca.gov.in Joint Secretary-MCA
Shri Manoj Kumar manoj.kumar@mca.gov.in Joint Secretary-MCA
Shri AmardeepBhatia asbhatia@mca.gov.in Joint Secretary-MCA
Shri.Suresh Pal sureshpal@nic.in Joint Secretary-MCA

The relevant MCA postal addresses is as below

MCA Officials' Address

Ministry of Corporate Affairs 
'A' Wing, 5th Floor, Shastri Bhawan
Dr. Rajendra Prasad Road
NEW DELHI 110 001

MCA Minister's Address

Minister of State for Corporate Affairs
Room No 437, C Wing
4th Floor, Shahstri Bhawan
Dr Rajendra Prasad Road
New Delhi 110 001

7) I urge all of you to send email/post your submissions for the sake of our profession.

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