In the Recent Update from MCA , MCA has issued amended rules for Companies in respect to Preparation of Board Report for OPC and Small Companies where ministry as provided relief to Company Directors for preparation of Board Report that will not require much information and provided mandatory points that are required to be disclosed in the board report.
The Board Shall be prepared on the basis on standalone Financial Statement and shall be in abridged form and contain the following points :
- The Web Address, if any where annual return has been placed
- Number of meeting of Board of Directors of the company held During the Financial Year
- Directors Responsibility Statement
- Details in respect of frauds reported by auditors
- Explanation and comments by board on qualification or adverse remarks by auditors
- Financial Summery of Company during the financial year
- Statement of Company affairs
- Material Changes form the date of Closure of Financial Year in nature of business of the company and their impact on financial position of the company.
- All details of Directors who were appointed and resigned during the year.
- All Details of Significant material order passed by Regulators
- Details with contracts and arrangements with related parties in Form AOC-2
Companies (Accounts) Amendment Rules, 2018 dated 31.07.2018 :
Download here
http://www.mca.gov.in/Ministry/pdf/companisAccountsRules_31072018.pdf
Do you own small Private Limited Company or One Person Company and need compliance support for Annual and Event Based legal Filings – Connect at 9782280098 or email at mail@fastlegal.in
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