CA. PRAMOD JAIN FCA, FCS, FCMA, LL.B, MIMA, DISA CA. PRAMOD JAIN FCA, FCS, FCMA, LL.B, MIMA, DISA LUNAWAT & CO. Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants LUNAWAT & CO. Chartered Accountants Chartered Accountants Chartered Accountants Chartered Accountants 4 4 4 th th th th February 2017 February 2017 February 2017 February 2017 Nanital Nanital Nanital Nanital, Kanpur CA Society , Kanpur CA Society , Kanpur CA Society , Kanpur CA Society 4 4 4 th th th th February 2017 February 2017 February 2017 February 2017 Nanital Nanital Nanital Nanital, Kanpur CA Society , Kanpur CA Society , Kanpur CA Society , Kanpur CA Society CRITICAL ISSUES IN COMPANY LAW FOR PRIVATE COMPANIES CRITICAL ISSUES IN COMPANY LAW FOR PRIVATE COMPANIES
LUNAWAT & CO.Chartered AccountantsChartered AccountantsChartered AccountantsChartered Accountants4444thththth February 2017 February 2017 February 2017 February 2017 NanitalNanitalNanitalNanital, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society4444thththth February 2017 February 2017 February 2017 February 2017 NanitalNanitalNanitalNanital, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society, Kanpur CA Society
CRITICAL ISSUES
IN COMPANY LAW FOR
PRIVATE COMPANIES
CRITICAL ISSUES
IN COMPANY LAW FOR
PRIVATE COMPANIES
THE PROCESSTHE PROCESSTHE PROCESSTHE PROCESSLunawat & Co.
�Financial Year Financial Year Financial Year Financial Year –––– 31313131stststst MarchMarchMarchMarch
�Cash Flow for all except:Cash Flow for all except:Cash Flow for all except:Cash Flow for all except:
�OPCOPCOPCOPC
�SCSCSCSC
�DC DC DC DC
�FS to FS to FS to FS to be in Schedule III be in Schedule III be in Schedule III be in Schedule III
�Amended Amended Amended Amended w.e.fw.e.fw.e.fw.e.f. 4.9.15 to include . 4.9.15 to include . 4.9.15 to include . 4.9.15 to include
MSMED details under Trade MSMED details under Trade MSMED details under Trade MSMED details under Trade PayablePayablePayablePayable
Lunawat & Co.
BASICS BASICS BASICS BASICS –––– CURRENT VS. NONCURRENT VS. NONCURRENT VS. NONCURRENT VS. NON----CURRENTCURRENTCURRENTCURRENT
� Current Asset Current Asset Current Asset Current Asset ---- satisfies any of following criteria; satisfies any of following criteria; satisfies any of following criteria; satisfies any of following criteria;
� In the company’s normal operating cycle it is; In the company’s normal operating cycle it is; In the company’s normal operating cycle it is; In the company’s normal operating cycle it is;
�Intended for sale; orIntended for sale; orIntended for sale; orIntended for sale; or
�Intended to be consumed; orIntended to be consumed; orIntended to be consumed; orIntended to be consumed; or
�Expected to be realized.Expected to be realized.Expected to be realized.Expected to be realized.
�Held primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; or
� Expected to be realized within 12 months after Expected to be realized within 12 months after Expected to be realized within 12 months after Expected to be realized within 12 months after
reporting date; orreporting date; orreporting date; orreporting date; or
� Cash or cash equivalent unless it is restricted from Cash or cash equivalent unless it is restricted from Cash or cash equivalent unless it is restricted from Cash or cash equivalent unless it is restricted from
being exchanged or used to settle a liability for at being exchanged or used to settle a liability for at being exchanged or used to settle a liability for at being exchanged or used to settle a liability for at
least 12 months after reporting date.least 12 months after reporting date.least 12 months after reporting date.least 12 months after reporting date.
Lunawat & Co.
BASICS BASICS BASICS BASICS ---- CURRENT LIABILITYCURRENT LIABILITYCURRENT LIABILITYCURRENT LIABILITY� Current liability if it satisfies any of the following Current liability if it satisfies any of the following Current liability if it satisfies any of the following Current liability if it satisfies any of the following
criteria; if it is :criteria; if it is :criteria; if it is :criteria; if it is :
� Expected to be settled in the company’s normal Expected to be settled in the company’s normal Expected to be settled in the company’s normal Expected to be settled in the company’s normal
operating cycle; oroperating cycle; oroperating cycle; oroperating cycle; or
�Held primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; orHeld primarily for the purpose of being traded; or
�Due to be settled within 12 months after reporting Due to be settled within 12 months after reporting Due to be settled within 12 months after reporting Due to be settled within 12 months after reporting
date; ordate; ordate; ordate; or
� The company does not have an unconditional right The company does not have an unconditional right The company does not have an unconditional right The company does not have an unconditional right
to defer settlement of liability for at least 12 to defer settlement of liability for at least 12 to defer settlement of liability for at least 12 to defer settlement of liability for at least 12
months after reporting date. Terms of a liability months after reporting date. Terms of a liability months after reporting date. Terms of a liability months after reporting date. Terms of a liability
that could, at option of counterparty, result in its that could, at option of counterparty, result in its that could, at option of counterparty, result in its that could, at option of counterparty, result in its
settlement by issue of equity do not affect its settlement by issue of equity do not affect its settlement by issue of equity do not affect its settlement by issue of equity do not affect its
GENERALGENERALGENERALGENERAL� Balance Sheet Title Balance Sheet Title Balance Sheet Title Balance Sheet Title –––– ‘as at’ or ‘as on’ 31st ‘as at’ or ‘as on’ 31st ‘as at’ or ‘as on’ 31st ‘as at’ or ‘as on’ 31st
March March March March
� Rounding off based on turnover.Rounding off based on turnover.Rounding off based on turnover.Rounding off based on turnover.
�< < < < RsRsRsRs. 100 Crores . 100 Crores . 100 Crores . 100 Crores ---- To the nearest hundreds, To the nearest hundreds, To the nearest hundreds, To the nearest hundreds,
thousands, lakhs or millions or decimal thousands, lakhs or millions or decimal thousands, lakhs or millions or decimal thousands, lakhs or millions or decimal
thereofthereofthereofthereof
�RsRsRsRs. 100 Crores or more . 100 Crores or more . 100 Crores or more . 100 Crores or more ---- To the nearest To the nearest To the nearest To the nearest
lakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereoflakhs or millions or crores or decimal thereof
� Comparative Comparative Comparative Comparative figures figures figures figures required required required required to be disclosed to be disclosed to be disclosed to be disclosed
for the last reporting for the last reporting for the last reporting for the last reporting periodperiodperiodperiod
Lunawat & Co.
GENERALGENERALGENERALGENERAL
�Linking of notes with B/S & PL Linking of notes with B/S & PL Linking of notes with B/S & PL Linking of notes with B/S & PL
�Previous Previous Previous Previous year figuresyear figuresyear figuresyear figures
�Name , DIN, designation & address of Name , DIN, designation & address of Name , DIN, designation & address of Name , DIN, designation & address of
signatories to any document signatories to any document signatories to any document signatories to any document
uploaded / filed with ROCuploaded / filed with ROCuploaded / filed with ROCuploaded / filed with ROC
�B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!B/s & PL on letterhead of Auditors!!
�Date of signingDate of signingDate of signingDate of signing
�Payment to shareholders for 2(22)(e) Payment to shareholders for 2(22)(e) Payment to shareholders for 2(22)(e) Payment to shareholders for 2(22)(e)
Lunawat & Co.
FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)FORM OF BALANCE SHEET (PART 1)Particulars Note
No.
Figures as at the
end of the CRP
Figures as at the
end of the PRP
I. EQUITY AND LIABILITIES
(1) Shareholders’ Funds
(a) Share capital
(b) Reserve and Surplus
(c) Money received against share
warrants
1
2
(2) Share application money pending
allotment
3
(3) Non-current Liabilities
(a) Long term borrowings
(b) Deferred tax liabilities (net)
(c) Other long term liabilities
(d) Long term provisions
4
5
6
7
(4) Current Liabilities
(a) Short term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short term provisions
8
9
10
TOTAL
SHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVESSHARE CAPITAL & RESERVES� Authorized Authorized Authorized Authorized / Paid up Capital / Paid up Capital / Paid up Capital / Paid up Capital –––– Check with Check with Check with Check with
Master DataMaster DataMaster DataMaster Data
� Reconciliation of no of shares outstanding at Reconciliation of no of shares outstanding at Reconciliation of no of shares outstanding at Reconciliation of no of shares outstanding at
beginning and at end of reporting period.beginning and at end of reporting period.beginning and at end of reporting period.beginning and at end of reporting period.
� RRRRightsightsightsights, preference & restrictions attaching to , preference & restrictions attaching to , preference & restrictions attaching to , preference & restrictions attaching to
each class of shares each class of shares each class of shares each class of shares etc.etc.etc.etc.
� Is Is Is Is conversion of loans into shares in event of conversion of loans into shares in event of conversion of loans into shares in event of conversion of loans into shares in event of
default in repayment default in repayment default in repayment default in repayment –––– NonNonNonNon----cash?cash?cash?cash?
� Terms & conditions & No. of shares proposed to Terms & conditions & No. of shares proposed to Terms & conditions & No. of shares proposed to Terms & conditions & No. of shares proposed to
be issued.be issued.be issued.be issued.
� Amount of premium, if any.Amount of premium, if any.Amount of premium, if any.Amount of premium, if any.
� Period before which the allotment shall be made.Period before which the allotment shall be made.Period before which the allotment shall be made.Period before which the allotment shall be made.
� Whether company has sufficient authorized Whether company has sufficient authorized Whether company has sufficient authorized Whether company has sufficient authorized
share capital to allot shares.share capital to allot shares.share capital to allot shares.share capital to allot shares.
� Period for which the share application money has Period for which the share application money has Period for which the share application money has Period for which the share application money has
been pending beyond the period for allotment as been pending beyond the period for allotment as been pending beyond the period for allotment as been pending beyond the period for allotment as
mentioned in the share application document.mentioned in the share application document.mentioned in the share application document.mentioned in the share application document.
� Reason for which such share application money Reason for which such share application money Reason for which such share application money Reason for which such share application money
is pending for allotment, if so pending.is pending for allotment, if so pending.is pending for allotment, if so pending.is pending for allotment, if so pending.
Lunawat & Co.
CARO 2016 CARO 2016 CARO 2016 CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES�14 14 14 14 ––––NewNewNewNew ---- Whether Co. has made Whether Co. has made Whether Co. has made Whether Co. has made
preferential allotment / PP of shares or preferential allotment / PP of shares or preferential allotment / PP of shares or preferential allotment / PP of shares or
fully or partly fully or partly fully or partly fully or partly convertible convertible convertible convertible deb. during deb. during deb. during deb. during yryryryr. . . .
used for purposes for which funds were used for purposes for which funds were used for purposes for which funds were used for purposes for which funds were
raised. raised. raised. raised.
� If not, details of amount involved and If not, details of amount involved and If not, details of amount involved and If not, details of amount involved and
nature of nonnature of nonnature of nonnature of non----compliance.compliance.compliance.compliance.
Special Resolution Special Resolution Special Resolution Special Resolution ––––MGT MGT MGT MGT ----14 (earlier 14 (earlier 14 (earlier 14 (earlier offer should be offer should be offer should be offer should be
complete)complete)complete)complete)
Send letter of offer Send letter of offer Send letter of offer Send letter of offer to persons from to persons from to persons from to persons from
whom money to be whom money to be whom money to be whom money to be raised < 50 persons raised < 50 persons raised < 50 persons raised < 50 persons
> 200 per year> 200 per year> 200 per year> 200 per year
Send the detail of Send the detail of Send the detail of Send the detail of persons to whom persons to whom persons to whom persons to whom offer sent to ROC offer sent to ROC offer sent to ROC offer sent to ROC within 30 days within 30 days within 30 days within 30 days
On receiving On receiving On receiving On receiving amount, allot within amount, allot within amount, allot within amount, allot within
60 days60 days60 days60 days
If not allotted refund If not allotted refund If not allotted refund If not allotted refund within 15 dayswithin 15 dayswithin 15 dayswithin 15 days
If not refunded pay If not refunded pay If not refunded pay If not refunded pay inttinttinttintt @ 12%@ 12%@ 12%@ 12%
Lunawat & Co.
BORROWINGSBORROWINGSBORROWINGSBORROWINGS� Long Term vs. Short Long Term vs. Short Long Term vs. Short Long Term vs. Short Term Term Term Term –––– CC Limits?? Demand CC Limits?? Demand CC Limits?? Demand CC Limits?? Demand
Loans??Loans??Loans??Loans??
� Secured /unsecured Secured /unsecured Secured /unsecured Secured /unsecured –––– nature of security to be nature of security to be nature of security to be nature of security to be stated stated stated stated & & & & guaranteed by directors to be shown guaranteed by directors to be shown guaranteed by directors to be shown guaranteed by directors to be shown separately.separately.separately.separately.
� Term of repayment of term loans to be givenTerm of repayment of term loans to be givenTerm of repayment of term loans to be givenTerm of repayment of term loans to be given
� Period of maturity with respect to B/S datePeriod of maturity with respect to B/S datePeriod of maturity with respect to B/S datePeriod of maturity with respect to B/S date
�Number of installments dueNumber of installments dueNumber of installments dueNumber of installments due
� Amount of installments dueAmount of installments dueAmount of installments dueAmount of installments due
� Applicable rate of interestApplicable rate of interestApplicable rate of interestApplicable rate of interest
� Period Period Period Period & amount of default in payment of & amount of default in payment of & amount of default in payment of & amount of default in payment of
principal principal principal principal & & & & interest as on interest as on interest as on interest as on B/S B/S B/S B/S datedatedatedate
Lunawat & Co.
CARO 2016 CARO 2016 CARO 2016 CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES� 9 9 9 9 –––– NewNewNewNew ---- Whether moneys raised by way of Whether moneys raised by way of Whether moneys raised by way of Whether moneys raised by way of IPO IPO IPO IPO
/ FPO (including / FPO (including / FPO (including / FPO (including debt instruments) &debt instruments) &debt instruments) &debt instruments) & term loans term loans term loans term loans
were applied for were applied for were applied for were applied for purposes purposes purposes purposes for which those are for which those are for which those are for which those are
raised. If not, raised. If not, raised. If not, raised. If not, details details details details together with delays / together with delays / together with delays / together with delays /
�Default Default Default Default ---- amount involved amount involved amount involved amount involved , nature , nature , nature , nature of of of of default, delay default, delay default, delay default, delay in in in in
utilizationutilizationutilizationutilization
� Co. to disclose end Co. to disclose end Co. to disclose end Co. to disclose end use of use of use of use of IPO/FPO in notes & auditor IPO/FPO in notes & auditor IPO/FPO in notes & auditor IPO/FPO in notes & auditor
to to to to verify verify verify verify –––– see see see see SEBI (Listing SEBI (Listing SEBI (Listing SEBI (Listing Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.Obl. & Dis. Req.) Reg.
� Temporary investment (FDR) to be reportedTemporary investment (FDR) to be reportedTemporary investment (FDR) to be reportedTemporary investment (FDR) to be reported
� Term Loans from Private PartiesTerm Loans from Private PartiesTerm Loans from Private PartiesTerm Loans from Private Parties
� If against property, FDR, If against property, FDR, If against property, FDR, If against property, FDR, etcetcetcetc –––– no specific purposeno specific purposeno specific purposeno specific purpose
DEPOSITSDEPOSITSDEPOSITSDEPOSITS� Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :Following may invite, accept or renew deposits :
�Public company having net worth > 100 Cr or Public company having net worth > 100 Cr or Public company having net worth > 100 Cr or Public company having net worth > 100 Cr or
�Others Others Others Others –––– only from its members subject to only from its members subject to only from its members subject to only from its members subject to
certain conditions (73(2)). certain conditions (73(2)). certain conditions (73(2)). certain conditions (73(2)). –––– Pvt. Cos. Pvt. Cos. Pvt. Cos. Pvt. Cos. uptouptouptoupto
100% of capital + free reserves 100% of capital + free reserves 100% of capital + free reserves 100% of capital + free reserves –––– 5.6.155.6.155.6.155.6.15 ----
100% of capital + 100% of capital + 100% of capital + 100% of capital + FR + SP FR + SP FR + SP FR + SP –––– 26.6.1626.6.1626.6.1626.6.16
Lunawat & Co.
ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014ACCEPTANCE OF DEPOSIT RULES 2014� Apply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFCApply to all companies except Bank, NBFC & HFC
� Deposit includes receipt of money by way of loan, deposit Deposit includes receipt of money by way of loan, deposit Deposit includes receipt of money by way of loan, deposit Deposit includes receipt of money by way of loan, deposit
or other form, but does not include:or other form, but does not include:or other form, but does not include:or other form, but does not include:
� Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.Amount received from CG, SG, L Auth., Stat. Auth.
� Amount from Foreign Amount from Foreign Amount from Foreign Amount from Foreign GGGGovtovtovtovt, Bank, , Bank, , Bank, , Bank, etcetcetcetc as per FEMAas per FEMAas per FEMAas per FEMA
� Amount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPsAmount received from Banks, PFIs, CPs
� ICDICDICDICD
� From director out of his own funds From director out of his own funds From director out of his own funds From director out of his own funds –––– to report in D.R. to report in D.R. to report in D.R. to report in D.R. w.e.fw.e.fw.e.fw.e.f. . . .
� From From From From relative of director relative of director relative of director relative of director for Pvt. Co. out for Pvt. Co. out for Pvt. Co. out for Pvt. Co. out of his own funds of his own funds of his own funds of his own funds –––– to to to to
report in report in report in report in D.R. D.R. D.R. D.R. w.e.fw.e.fw.e.fw.e.f. . . . 15.9.15 15.9.15 15.9.15 15.9.15 –––– FS FS FS FS –––– 29.6.1629.6.1629.6.1629.6.16
� Convertible bond / debenture Convertible bond / debenture Convertible bond / debenture Convertible bond / debenture –––– shares within 5 years shares within 5 years shares within 5 years shares within 5 years 10 from 10 from 10 from 10 from
ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES 2014201420142014
� NonNonNonNon----Interest bearing amount received and held in Interest bearing amount received and held in Interest bearing amount received and held in Interest bearing amount received and held in
TrustTrustTrustTrust
� Business advances:Business advances:Business advances:Business advances:
� Supply of goods / services Supply of goods / services Supply of goods / services Supply of goods / services –––– within 365 dayswithin 365 dayswithin 365 dayswithin 365 days
� Against Against Against Against ImmImmImmImm property property property property –––– if adjusted as per agreement if adjusted as per agreement if adjusted as per agreement if adjusted as per agreement
� SSSSecurity deposit for performance of contract for ecurity deposit for performance of contract for ecurity deposit for performance of contract for ecurity deposit for performance of contract for
supply of goods or provision of servicessupply of goods or provision of servicessupply of goods or provision of servicessupply of goods or provision of services
� AAAAdvance under long term projects for supply of capital dvance under long term projects for supply of capital dvance under long term projects for supply of capital dvance under long term projects for supply of capital
goodsgoodsgoodsgoods
� Advance for providing future services in form of Advance for providing future services in form of Advance for providing future services in form of Advance for providing future services in form of
warranty or maintenance contract (written) warranty or maintenance contract (written) warranty or maintenance contract (written) warranty or maintenance contract (written) uptouptouptoupto 5 5 5 5
years years years years –––– 29.6.201629.6.201629.6.201629.6.2016
Lunawat & Co.
ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES 2014201420142014
� Advance received and as allowed by Advance received and as allowed by Advance received and as allowed by Advance received and as allowed by sectoralsectoralsectoralsectoral
regulator as per CG or SG regulator as per CG or SG regulator as per CG or SG regulator as per CG or SG –––– 29.6.201629.6.201629.6.201629.6.2016
� Advance Advance Advance Advance for subscription towards publication for subscription towards publication for subscription towards publication for subscription towards publication ––––
29.6.201629.6.201629.6.201629.6.2016
� If Co. accepting money does not have necessary If Co. accepting money does not have necessary If Co. accepting money does not have necessary If Co. accepting money does not have necessary
permission or approval to deal in goods or permission or approval to deal in goods or permission or approval to deal in goods or permission or approval to deal in goods or
properties or services properties or services properties or services properties or services ----DepositDepositDepositDeposit
� Subscription to chit under Chit Fund ActSubscription to chit under Chit Fund ActSubscription to chit under Chit Fund ActSubscription to chit under Chit Fund Act–––– 29.6.1629.6.1629.6.1629.6.16
� Received by company in collective investment Received by company in collective investment Received by company in collective investment Received by company in collective investment
scheme in compliance with SEBI scheme in compliance with SEBI scheme in compliance with SEBI scheme in compliance with SEBI –––– 29.6.1629.6.1629.6.1629.6.16
Lunawat & Co.
ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES 2014201420142014
� RsRsRsRs. 25 Lakh or more by start up company in . 25 Lakh or more by start up company in . 25 Lakh or more by start up company in . 25 Lakh or more by start up company in
single tranche by convertible note (in equity or single tranche by convertible note (in equity or single tranche by convertible note (in equity or single tranche by convertible note (in equity or
repayable within 5 years) repayable within 5 years) repayable within 5 years) repayable within 5 years) –––– 29.6.1629.6.1629.6.1629.6.16
� Amount received from alternative investment Amount received from alternative investment Amount received from alternative investment Amount received from alternative investment
funds, Domestic VC Funds, MF registered with funds, Domestic VC Funds, MF registered with funds, Domestic VC Funds, MF registered with funds, Domestic VC Funds, MF registered with
SEBI SEBI SEBI SEBI –––– 29.6.1629.6.1629.6.1629.6.16
� Promoters Promoters Promoters Promoters ---- stipulation of any FI or a banks:stipulation of any FI or a banks:stipulation of any FI or a banks:stipulation of any FI or a banks:----
� Loan is brought in pursuance of stipulation imposed by lending Loan is brought in pursuance of stipulation imposed by lending Loan is brought in pursuance of stipulation imposed by lending Loan is brought in pursuance of stipulation imposed by lending
institutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; andinstitutions on promoters to contribute such finance; and
� Loan is provided by the promoters themselves and/or by their Loan is provided by the promoters themselves and/or by their Loan is provided by the promoters themselves and/or by their Loan is provided by the promoters themselves and/or by their
relatives.relatives.relatives.relatives.
� Exemption available only till loans are Exemption available only till loans are Exemption available only till loans are Exemption available only till loans are repaidrepaidrepaidrepaid
Lunawat & Co.
ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES ACCEPTANCE OF DEPOSIT RULES 2014201420142014� Amt. received by Amt. received by Amt. received by Amt. received by NidhiNidhiNidhiNidhi companiescompaniescompaniescompanies
� Public / Eligible Public / Eligible Public / Eligible Public / Eligible –––– deposit deposit deposit deposit –––– 6 m to 36 m6 m to 36 m6 m to 36 m6 m to 36 m
� Eligible company to obtain rating and to be attached Eligible company to obtain rating and to be attached Eligible company to obtain rating and to be attached Eligible company to obtain rating and to be attached
with DPT 3 with DPT 3 with DPT 3 with DPT 3 –––– 29.6.1629.6.1629.6.1629.6.16
� If <6, 3 months If <6, 3 months If <6, 3 months If <6, 3 months ---- 10% of capital + free reserves10% of capital + free reserves10% of capital + free reserves10% of capital + free reserves
� Total deposit from members <25% of C + F. Reserve Total deposit from members <25% of C + F. Reserve Total deposit from members <25% of C + F. Reserve Total deposit from members <25% of C + F. Reserve ––––
35% from 35% from 35% from 35% from 29.6.1629.6.1629.6.1629.6.16
� Rate of Rate of Rate of Rate of InttInttInttIntt & commission not to exceed NBFC norms& commission not to exceed NBFC norms& commission not to exceed NBFC norms& commission not to exceed NBFC norms
� Auditors should take suitable note of violation of these Auditors should take suitable note of violation of these Auditors should take suitable note of violation of these Auditors should take suitable note of violation of these
provisionsprovisionsprovisionsprovisions
Lunawat & Co.
AUDITOR’S DUTY AUDITOR’S DUTY AUDITOR’S DUTY AUDITOR’S DUTY ––––CARO CARO CARO CARO 2016201620162016
� 5 5 5 5 ---- IIIIn n n n casecasecasecase, co. has , co. has , co. has , co. has accepted deposits, accepted deposits, accepted deposits, accepted deposits,
whether whether whether whether directives directives directives directives issued by issued by issued by issued by RBI & RBI & RBI & RBI &
provisions provisions provisions provisions of of of of ss. 73 ss. 73 ss. 73 ss. 73 to 76 or any other to 76 or any other to 76 or any other to 76 or any other
relevant provisions of relevant provisions of relevant provisions of relevant provisions of Companies Companies Companies Companies Act, 2013 Act, 2013 Act, 2013 Act, 2013
& rules & rules & rules & rules framed thereunder, where framed thereunder, where framed thereunder, where framed thereunder, where
applicable, have been complied with? applicable, have been complied with? applicable, have been complied with? applicable, have been complied with?
� If If If If not, not, not, not, nature nature nature nature of such contraventions be of such contraventions be of such contraventions be of such contraventions be
stated; If an order has been passed by stated; If an order has been passed by stated; If an order has been passed by stated; If an order has been passed by CLB CLB CLB CLB
or or or or NCLT NCLT NCLT NCLT or or or or RBI RBI RBI RBI or any court or any other or any court or any other or any court or any other or any court or any other
tribunal, whether tribunal, whether tribunal, whether tribunal, whether same same same same has been complied has been complied has been complied has been complied
with or not?with or not?with or not?with or not?
Lunawat & Co.
OTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIESOTHER CURRENT LIABILITIES� The amount shall be classified as:The amount shall be classified as:The amount shall be classified as:The amount shall be classified as:
� Current maturities of long term debtsCurrent maturities of long term debtsCurrent maturities of long term debtsCurrent maturities of long term debts
� Current maturities of finance lease obligationsCurrent maturities of finance lease obligationsCurrent maturities of finance lease obligationsCurrent maturities of finance lease obligations
� Interest accrued but not due on borrowingsInterest accrued but not due on borrowingsInterest accrued but not due on borrowingsInterest accrued but not due on borrowings
� Interest accrued and due on borrowingsInterest accrued and due on borrowingsInterest accrued and due on borrowingsInterest accrued and due on borrowings
� Income received in advanceIncome received in advanceIncome received in advanceIncome received in advance
� Share Application money due for refund and interest Share Application money due for refund and interest Share Application money due for refund and interest Share Application money due for refund and interest accrued thereon (including advances for allotment of accrued thereon (including advances for allotment of accrued thereon (including advances for allotment of accrued thereon (including advances for allotment of share Capital)share Capital)share Capital)share Capital)
� Unpaid matured deposit and interest thereonUnpaid matured deposit and interest thereonUnpaid matured deposit and interest thereonUnpaid matured deposit and interest thereon
� Unpaid matured debentures and interest thereonUnpaid matured debentures and interest thereonUnpaid matured debentures and interest thereonUnpaid matured debentures and interest thereon
� Other payablesOther payablesOther payablesOther payables
Lunawat & Co.
OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES � Others payable may include:Others payable may include:Others payable may include:Others payable may include:
� Liability for purchase of fixed assetsLiability for purchase of fixed assetsLiability for purchase of fixed assetsLiability for purchase of fixed assets
�MarkMarkMarkMark----totototo----market loss on forward and option market loss on forward and option market loss on forward and option market loss on forward and option contractscontractscontractscontracts
� Accrued salaries and benefitsAccrued salaries and benefitsAccrued salaries and benefitsAccrued salaries and benefits
Lunawat & Co.
FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)FORM OF BALANCE SHEET (PART 2)Particulars Note
No.
Figures as at the
end of the CRP
Figures as at the
end of the PRP
II. ASSETS
(1)Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non- current investments
(c) Deferred tax assets (Net)
(d) Long term loans and advances
(e) Other non-current assets
11
12
13
14
15
(2) Current assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short term loans and advances
(f) Other current assets
16
17
18
19
20
TOTAL
FIXED ASSETSFIXED ASSETSFIXED ASSETSFIXED ASSETS
�Fixed Asset on the face of the Balance Fixed Asset on the face of the Balance Fixed Asset on the face of the Balance Fixed Asset on the face of the Balance
Sheet has to be classified as follows:Sheet has to be classified as follows:Sheet has to be classified as follows:Sheet has to be classified as follows:
� Intangible assets under developmentIntangible assets under developmentIntangible assets under developmentIntangible assets under development
�Capital advances not to be grouped as Capital advances not to be grouped as Capital advances not to be grouped as Capital advances not to be grouped as
Capital WorkCapital WorkCapital WorkCapital Work----inininin----Progress but long term Progress but long term Progress but long term Progress but long term
loans and advancesloans and advancesloans and advancesloans and advances????
Lunawat & Co.
INVENTORIESINVENTORIESINVENTORIESINVENTORIES
�Classification into:Classification into:Classification into:Classification into:� Raw MaterialsRaw MaterialsRaw MaterialsRaw Materials
� Finished goods should include all goods except Finished goods should include all goods except Finished goods should include all goods except Finished goods should include all goods except
acquired for trading purposesacquired for trading purposesacquired for trading purposesacquired for trading purposes
� GoodsGoodsGoodsGoods----inininin----transit transit transit transit ----disclose under relevant subdisclose under relevant subdisclose under relevant subdisclose under relevant sub----headheadheadhead
� Mode of valuation to be statedMode of valuation to be statedMode of valuation to be statedMode of valuation to be stated
Lunawat & Co.
RELATED PARTYRELATED PARTYRELATED PARTYRELATED PARTY
CARO 2016 CARO 2016 CARO 2016 CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES
�3 3 3 3 ---- Whether company has granted any Whether company has granted any Whether company has granted any Whether company has granted any
loans, secured or unsecured to cos, firms, loans, secured or unsecured to cos, firms, loans, secured or unsecured to cos, firms, loans, secured or unsecured to cos, firms,
LLPLLPLLPLLP or other parties covered is registered or other parties covered is registered or other parties covered is registered or other parties covered is registered
�(a) (a) (a) (a) Whether terms & conditions of grant of Whether terms & conditions of grant of Whether terms & conditions of grant of Whether terms & conditions of grant of
such loans are not prejudicial to company’s such loans are not prejudicial to company’s such loans are not prejudicial to company’s such loans are not prejudicial to company’s
interestinterestinterestinterest; ; ; ;
�CY only, terms s. 186(7), ability to lend, borrower CY only, terms s. 186(7), ability to lend, borrower CY only, terms s. 186(7), ability to lend, borrower CY only, terms s. 186(7), ability to lend, borrower
standingstandingstandingstanding
Lunawat & Co.
CARO 2016 CARO 2016 CARO 2016 CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES
�((((b) b) b) b) Whether the schedule of repayment of Whether the schedule of repayment of Whether the schedule of repayment of Whether the schedule of repayment of
principal & interest is stipulated principal & interest is stipulated principal & interest is stipulated principal & interest is stipulated & whether & whether & whether & whether
repayments & interest are regular. repayments & interest are regular. repayments & interest are regular. repayments & interest are regular.
�Opening + CY, squared up loans covered Opening + CY, squared up loans covered Opening + CY, squared up loans covered Opening + CY, squared up loans covered –––– no. of no. of no. of no. of
cases cases cases cases
�(c) If overdue amount (c) If overdue amount (c) If overdue amount (c) If overdue amount for more than 90 daysfor more than 90 daysfor more than 90 daysfor more than 90 days, , , ,
whether reasonable steps taken by Co. for whether reasonable steps taken by Co. for whether reasonable steps taken by Co. for whether reasonable steps taken by Co. for
recovery of the principal & interest recovery of the principal & interest recovery of the principal & interest recovery of the principal & interest
�Opening Opening Opening Opening + + + + CY CY CY CY –––– no. of cases, principal no. of cases, principal no. of cases, principal no. of cases, principal amtamtamtamt
CARO 2016 CARO 2016 CARO 2016 CARO 2016 ---- CLAUSESCLAUSESCLAUSESCLAUSES
�4 4 4 4 ---- In respect of loans, investments and In respect of loans, investments and In respect of loans, investments and In respect of loans, investments and
guarantees, whether provisions of guarantees, whether provisions of guarantees, whether provisions of guarantees, whether provisions of
Section 185 and 186 Section 185 and 186 Section 185 and 186 Section 185 and 186 have have have have been been been been
complied with. If not, provide details complied with. If not, provide details complied with. If not, provide details complied with. If not, provide details
thereofthereofthereofthereof.
�185 Details 185 Details 185 Details 185 Details –––– maximum amount and closing maximum amount and closing maximum amount and closing maximum amount and closing
Bal.Bal.Bal.Bal.
�186 186 186 186 –––– more than 2 layers, exceeding limits, more than 2 layers, exceeding limits, more than 2 layers, exceeding limits, more than 2 layers, exceeding limits,
rate of interest, other defaultsrate of interest, other defaultsrate of interest, other defaultsrate of interest, other defaults
LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR (185)(185)(185)(185)� Co. not allowed directly or indirectly to advance Co. not allowed directly or indirectly to advance Co. not allowed directly or indirectly to advance Co. not allowed directly or indirectly to advance
any any any any loanloanloanloan or any or any or any or any loan represented by book debt loan represented by book debt loan represented by book debt loan represented by book debt
or give or give or give or give guaranteeguaranteeguaranteeguarantee or or or or provide security in provide security in provide security in provide security in
connection with loan takenconnection with loan takenconnection with loan takenconnection with loan taken to:to:to:to:
�Director of lending co or its partner or relativeDirector of lending co or its partner or relativeDirector of lending co or its partner or relativeDirector of lending co or its partner or relative
�Director of its holding co or its partner or relativeDirector of its holding co or its partner or relativeDirector of its holding co or its partner or relativeDirector of its holding co or its partner or relative
� Firm in which such director or relative is partnerFirm in which such director or relative is partnerFirm in which such director or relative is partnerFirm in which such director or relative is partner
� Pvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or memberPvt. Co. in which such director is Dir. or member
� Co in which all directors hold >25% voting powerCo in which all directors hold >25% voting powerCo in which all directors hold >25% voting powerCo in which all directors hold >25% voting power
� Co. or BOD or MD or Manager acts in direction or Co. or BOD or MD or Manager acts in direction or Co. or BOD or MD or Manager acts in direction or Co. or BOD or MD or Manager acts in direction or
instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.instruction of such director or BOD of lending co.
Lunawat & Co.
LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR –––– EXCEPTIONSEXCEPTIONSEXCEPTIONSEXCEPTIONS
� MD or WTD if condition of service MD or WTD if condition of service MD or WTD if condition of service MD or WTD if condition of service ---- all employeesall employeesall employeesall employees
� Any scheme approved by members by Any scheme approved by members by Any scheme approved by members by Any scheme approved by members by splsplsplspl
resolutionresolutionresolutionresolution
� Co in business of providing loans Co in business of providing loans Co in business of providing loans Co in business of providing loans ---- InttInttInttIntt rate > rate > rate > rate >
bank rate by RBIbank rate by RBIbank rate by RBIbank rate by RBI
� Loan, Guarantee, Loan, Guarantee, Loan, Guarantee, Loan, Guarantee, etcetcetcetc by holding co. to by holding co. to by holding co. to by holding co. to its its its its WOSCWOSCWOSCWOSC
� GGGGuarantee uarantee uarantee uarantee given or security provided by a given or security provided by a given or security provided by a given or security provided by a
holding holding holding holding in in in in respect of loan made by respect of loan made by respect of loan made by respect of loan made by bank bank bank bank or or or or FI to FI to FI to FI to
its its its its subsidiarysubsidiarysubsidiarysubsidiary
� HHHHowever, it should utilised by Subs. Co. for owever, it should utilised by Subs. Co. for owever, it should utilised by Subs. Co. for owever, it should utilised by Subs. Co. for
principle business activitiesprinciple business activitiesprinciple business activitiesprinciple business activities
� Shall not apply to a private company Shall not apply to a private company Shall not apply to a private company Shall not apply to a private company ::::----
� IIIIn n n n whose share capital another body corporate whose share capital another body corporate whose share capital another body corporate whose share capital another body corporate
has invested any money;has invested any money;has invested any money;has invested any money;
� IIIIf f f f the borrowings of such a company from the borrowings of such a company from the borrowings of such a company from the borrowings of such a company from
banks or financial institutions or any body banks or financial institutions or any body banks or financial institutions or any body banks or financial institutions or any body
corporate is less than twice of its paid up corporate is less than twice of its paid up corporate is less than twice of its paid up corporate is less than twice of its paid up
share capital or share capital or share capital or share capital or RsRsRsRs. 50 . 50 . 50 . 50 CrsCrsCrsCrs, , , , whichever is lower; whichever is lower; whichever is lower; whichever is lower;
andandandand
�Such Such Such Such a company has no default in repayment a company has no default in repayment a company has no default in repayment a company has no default in repayment
of such borrowings subsisting at the time of of such borrowings subsisting at the time of of such borrowings subsisting at the time of of such borrowings subsisting at the time of
making transactions under this section.making transactions under this section.making transactions under this section.making transactions under this section.
Lunawat & Co.
LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR LOAN TO DIRECTOR –––– PENALTYPENALTYPENALTYPENALTY
�On Giver i.e., Company:On Giver i.e., Company:On Giver i.e., Company:On Giver i.e., Company:
�Penalty Penalty Penalty Penalty ---- Maximum Maximum Maximum Maximum RsRsRsRs. 25 . 25 . 25 . 25 LacsLacsLacsLacs
�Auditor should ensure adequate disclosure Auditor should ensure adequate disclosure Auditor should ensure adequate disclosure Auditor should ensure adequate disclosure
in case of nonin case of nonin case of nonin case of non----compliancecompliancecompliancecompliance
�Exemption of provisions toExemption of provisions toExemption of provisions toExemption of provisions to
�Loan/Guarantee/Security provided by a Loan/Guarantee/Security provided by a Loan/Guarantee/Security provided by a Loan/Guarantee/Security provided by a
Co., Co. engaged in business of Financing of Co., Co. engaged in business of Financing of Co., Co. engaged in business of Financing of Co., Co. engaged in business of Financing of
Cos., a Co. providing Infrastructural facilities Cos., a Co. providing Infrastructural facilities Cos., a Co. providing Infrastructural facilities Cos., a Co. providing Infrastructural facilities
�Acquisitions by :Acquisitions by :Acquisitions by :Acquisitions by :----
�NBFC whose principal business is acquiring NBFC whose principal business is acquiring NBFC whose principal business is acquiring NBFC whose principal business is acquiring
SecuritiesSecuritiesSecuritiesSecurities
�AAAA Company whose principal business is Company whose principal business is Company whose principal business is Company whose principal business is
acquisition of securitiesacquisition of securitiesacquisition of securitiesacquisition of securities
�Maximum Rs.1,00,000/Maximum Rs.1,00,000/Maximum Rs.1,00,000/Maximum Rs.1,00,000/----; or; or; or; or
�bothbothbothboth43
Lunawat & Co.
FORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSSFORM OF STATEMENT OF PROFIT AND LOSSParticulars Note
No.Figures for
the CRPFigure for the PRP
I. Revenue from operations 21
II. Other income 22
III Total Revenue (I + II)
Iv. Expenses 23
V. Profit before exceptional and extraordinary items and tax (III - IV)
VI. Exceptional items 24
VII. Profit before extraordinary items and tax (V-VI)
VIII. Extraordinary items 25
IX. Profit before tax (VII-VIII)
X. Tax Expenses 26
XI. Profit (loss) for the period from continuing operations (IX-X)
XII Profit (Loss) from the discontinuing business 27
XIII Tax expenses of discontinuing operations 28
XIV. Profit (Loss) from discontinuing operations (after tax) (XII-XIV)
XV. Profit (Loss) for the period (XI+XIV) 29
XVI. Earnings per equity share
Lunawat & Co.
REVENUE FROM OPERATIONSREVENUE FROM OPERATIONSREVENUE FROM OPERATIONSREVENUE FROM OPERATIONS
� For companies other than finance company:For companies other than finance company:For companies other than finance company:For companies other than finance company:
� Sale of ProductsSale of ProductsSale of ProductsSale of Products
� Sale of ServicesSale of ServicesSale of ServicesSale of Services
� As per AS 9 presentation for excise duty As per AS 9 presentation for excise duty As per AS 9 presentation for excise duty As per AS 9 presentation for excise duty ---- on on on on
face of PLface of PLface of PLface of PL
Lunawat & Co.
OTHER INCOMEOTHER INCOMEOTHER INCOMEOTHER INCOME� To be classified as:To be classified as:To be classified as:To be classified as:
� Interest income (other than for finance company)Interest income (other than for finance company)Interest income (other than for finance company)Interest income (other than for finance company)
�DividendDividendDividendDividend
�Dividend from subsidiary companyDividend from subsidiary companyDividend from subsidiary companyDividend from subsidiary company
�Net gain / loss on sale of investmentsNet gain / loss on sale of investmentsNet gain / loss on sale of investmentsNet gain / loss on sale of investments
�Other nonOther nonOther nonOther non----operating income operating income operating income operating income
� Interest, dividend, etc. to be disclosed separately Interest, dividend, etc. to be disclosed separately Interest, dividend, etc. to be disclosed separately Interest, dividend, etc. to be disclosed separately
for Current as well as Non Current Investmentsfor Current as well as Non Current Investmentsfor Current as well as Non Current Investmentsfor Current as well as Non Current Investments
� Other Income be shown net off expenses. Other Income be shown net off expenses. Other Income be shown net off expenses. Other Income be shown net off expenses.
However expenses so netted off are to be shown However expenses so netted off are to be shown However expenses so netted off are to be shown However expenses so netted off are to be shown
separately.separately.separately.separately.
Lunawat & Co.
EXPENSESEXPENSESEXPENSESEXPENSES
Disclosure on face of the PL:Disclosure on face of the PL:Disclosure on face of the PL:Disclosure on face of the PL:
� Cost of material consumedCost of material consumedCost of material consumedCost of material consumed
� Purchase of stockPurchase of stockPurchase of stockPurchase of stock----inininin----tradetradetradetrade
� Changes in inventories of finished goods Changes in inventories of finished goods Changes in inventories of finished goods Changes in inventories of finished goods
WorkWorkWorkWork----inininin----progress and stock in tradeprogress and stock in tradeprogress and stock in tradeprogress and stock in trade
� Depreciation and amortization expensesDepreciation and amortization expensesDepreciation and amortization expensesDepreciation and amortization expenses
� Other expenses.Other expenses.Other expenses.Other expenses.
� Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.Interest on borrowings, debentures, bonds, etc.
� Finance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interestFinance charges on finance lease are in nature of interest
� Discounts/ premium on borrowingsDiscounts/ premium on borrowingsDiscounts/ premium on borrowingsDiscounts/ premium on borrowings
� Other ancillary Other ancillary Other ancillary Other ancillary costscostscostscosts
� Applicable net loss on foreign currency transactions to Applicable net loss on foreign currency transactions to Applicable net loss on foreign currency transactions to Applicable net loss on foreign currency transactions to
the extent they are regarded as adjust to interest cost the extent they are regarded as adjust to interest cost the extent they are regarded as adjust to interest cost the extent they are regarded as adjust to interest cost
� Interest on Tax???Interest on Tax???Interest on Tax???Interest on Tax???
Lunawat & Co.
OTHER EXPENSESOTHER EXPENSESOTHER EXPENSESOTHER EXPENSES� All other expenses will be grouped here. Following to be All other expenses will be grouped here. Following to be All other expenses will be grouped here. Following to be All other expenses will be grouped here. Following to be
� Consumption of stores and spares Consumption of stores and spares Consumption of stores and spares Consumption of stores and spares
� Power and fuelPower and fuelPower and fuelPower and fuel
� RentRentRentRent
� Repairs to buildingsRepairs to buildingsRepairs to buildingsRepairs to buildings
� Repairs to machineryRepairs to machineryRepairs to machineryRepairs to machinery
� InsuranceInsuranceInsuranceInsurance
� Rates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on incomeRates and taxes, excluding taxes on income
� Any expenditure which exceeds 1% of revenue from Any expenditure which exceeds 1% of revenue from Any expenditure which exceeds 1% of revenue from Any expenditure which exceeds 1% of revenue from
operations or Rs.1 L whichever is higher operations or Rs.1 L whichever is higher operations or Rs.1 L whichever is higher operations or Rs.1 L whichever is higher ---- separateseparateseparateseparate
Lunawat & Co.
Lunawat & Co.
NOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTS� Contingent Liabilities Contingent Liabilities Contingent Liabilities Contingent Liabilities / Commitments / Commitments / Commitments / Commitments (to the (to the (to the (to the extent not provided for)extent not provided for)extent not provided for)extent not provided for)
� Value of imports made during the year on CIF Value of imports made during the year on CIF Value of imports made during the year on CIF Value of imports made during the year on CIF
� Dividend if Dividend if Dividend if Dividend if paid in paid in paid in paid in FC (cash Basis):FC (cash Basis):FC (cash Basis):FC (cash Basis):
� Total amount remitted during the year in Total amount remitted during the year in Total amount remitted during the year in Total amount remitted during the year in FCFCFCFC
� Total Total Total Total no. no. no. no. of nonof nonof nonof non----resident shareholdersresident shareholdersresident shareholdersresident shareholders
�NNNNo. o. o. o. of shares held by them on which dividend of shares held by them on which dividend of shares held by them on which dividend of shares held by them on which dividend duedueduedue
� Year to which dividend relatesYear to which dividend relatesYear to which dividend relatesYear to which dividend relates
Lunawat & Co.
NOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTSNOTES TO ACCOUNTS
�Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)Export of goods (calculated on F.O.B. basis)
�Royalty, know how, professional and Royalty, know how, professional and Royalty, know how, professional and Royalty, know how, professional and
� Interest and dividendsInterest and dividendsInterest and dividendsInterest and dividends
�Other income (indicating the nature thereof)Other income (indicating the nature thereof)Other income (indicating the nature thereof)Other income (indicating the nature thereof)
Lunawat & Co.
OTHER DISCLOSURES OTHER DISCLOSURES OTHER DISCLOSURES OTHER DISCLOSURES IN NOTESIN NOTESIN NOTESIN NOTES� To disclose in FS full particulars of:To disclose in FS full particulars of:To disclose in FS full particulars of:To disclose in FS full particulars of:
� Purpose for which loan or guarantee or security is Purpose for which loan or guarantee or security is Purpose for which loan or guarantee or security is Purpose for which loan or guarantee or security is
proposed to be proposed to be proposed to be proposed to be utilisedutilisedutilisedutilised by recipient of loan or by recipient of loan or by recipient of loan or by recipient of loan or
guarantee or security [186(4)]guarantee or security [186(4)]guarantee or security [186(4)]guarantee or security [186(4)]
� Contribution during Contribution during Contribution during Contribution during yryryryr to National to National to National to National DefenceDefenceDefenceDefence FundFundFundFund
� AAAAmount contributed to Political Party and name mount contributed to Political Party and name mount contributed to Political Party and name mount contributed to Political Party and name
of party of party of party of party [182(3)][182(3)][182(3)][182(3)]
Lunawat & Co.
OTHER DISCLOSURES OTHER DISCLOSURES OTHER DISCLOSURES OTHER DISCLOSURES IN NOTESIN NOTESIN NOTESIN NOTES� Public Companies:Public Companies:Public Companies:Public Companies:
�Money received from directorMoney received from directorMoney received from directorMoney received from director
�Money received from directorMoney received from directorMoney received from directorMoney received from director
�Money received from Money received from Money received from Money received from relative of directorrelative of directorrelative of directorrelative of director
Lunawat & Co.
Entities that are to Entities that are to Entities that are to Entities that are to follow ASfollow ASfollow ASfollow AS
� Auditor to comply with auditing standardsAuditor to comply with auditing standardsAuditor to comply with auditing standardsAuditor to comply with auditing standards
� NFRA to notify auditing standards. Till NFRA NFRA to notify auditing standards. Till NFRA NFRA to notify auditing standards. Till NFRA NFRA to notify auditing standards. Till NFRA
does does does does –––– as by ICAIas by ICAIas by ICAIas by ICAI
� Total 38 SAsTotal 38 SAsTotal 38 SAsTotal 38 SAs
Lunawat & Co.
SA. No.SA. No.SA. No.SA. No. SubSubSubSub----divisiondivisiondivisiondivision No.No.No.No.
200200200200----299299299299 General Principles & Responsibilities General Principles & Responsibilities General Principles & Responsibilities General Principles & Responsibilities 9999
300300300300----499499499499 Risk Assessment and Response to Assessed Risks Risk Assessment and Response to Assessed Risks Risk Assessment and Response to Assessed Risks Risk Assessment and Response to Assessed Risks 6666
600600600600----699699699699 Using Work of Others Using Work of Others Using Work of Others Using Work of Others 3333
700700700700----799799799799 Audit Conclusions and Reporting Audit Conclusions and Reporting Audit Conclusions and Reporting Audit Conclusions and Reporting 6666
800800800800----899899899899 Specialized Areas Specialized Areas Specialized Areas Specialized Areas 3333
