Clarification regarding. applicability of exemption given to certain private companies under section 143(3)(i) of the Companies Act 2013 (General Circular No. 08/2O17)

General Circular No. 08/2O17

 F.No. 1/1/2014- CL-v

Government of India

Ministry of Corporate Affairs 

"A" Wing, 5th Floor, Shastri Bhawan

Dr. R.P. Road, New Delhi 110001

Date 25th July, 2O17

To

All Regional Directors, 

All Registrar of Companies,

All Stakeholders

Sub: Clarification regarding. applicability of exemption given to certain private companies under section 143(3)(i) of the Companies Act 2013.

Sir,

Stakeholders have drawn attention of this Ministry to the serial no. 5 of notification No' G.s.R. 583(E) dated 13th June, 2012 which states thai requirements of reporting under section 143(3)(i) of the Companies Act 2013 shall not apply to certain private companies as mentioned therein and have sought clarification w.r.t. the financial year(s) in respect of which the said exemption shall be applicable. The issue has been -examined in the Ministry and it is hereby clarified that the exemption shall be applicable for those audit reports in respect of financial statements pertaining to financial years, Commencing on or after 1st April,2016, which are made on or after the date of the said notification.

2. This issues with the approval of the Competent Authority



Yours faithfully.

(K.M.S. Narayanan)

Assistant Director

Copy to:-

(1) File No. 1/1/2014 CLV

(2) Guard File.