Relaxation of additional fees and extension of last date of filing ofAOC-4, AOC-4 XBRL and MGT-7 E-Forms under the Companies Act, 2013

Good News for Corporate!

The Ministry of Corporate Affairs has issued circular no. 14/2015 today to extend the due date of filing of Forms AOC-4, AOC-4 XBRL and MGT-7 and relax the additional fees for the forms filed till 30^thNovember, 2015.

The circular is appended below for your kind reference.

General Circular No.14/2015

F.01/34/2013-CLV

No. Government of India

Ministry of Corporate Affairs
*****

5th Floor, A Wing, Shastri Bhawan
Dr. Rajendra Prasad Road, New Delhi
Dated:28thOctober, 2015

To

All Regional Directors,

All Registrar of Companies,
All Stakeholders

Subject: Relaxation of additional fees and extension of last date of filing ofAOC-4, AOC-4 XBRL and MGT-7 E-Forms under the Companies Act, 2013

Sir,

In continuation of this Ministry's General Circular No.10/2015dated 13.07.2015, keeping in view the request received from various stakeholders, ithasbeen decided to relax the additional fee payable on forms AOC-4 andAOC-4 XBRL upto 30th November, 2015.

The additional fee requirementforMGT-7 E-Form is alsorelaxed for all such forms filed till 30th November, 2015, wherever additional fees is applicable.

2.This issues with the approval of competent authority.

Yours Faithfully,

(K.M.S. Narayanan)

Assistant Director

Tel:+911123387263

LLP Incorporation Checklist

LLP is best business Structure for Small and Medium businesses. The advantage to form LLP are;- Less Govt fees as compared to company for formation- Less Compliances- No need to appoint Auditors unless you exceed the limits- Easy to form

Min Requirements to form LLP;-Min 2 Designated Partners- Each Designated Partner must have DIN- Any one to have DSC- Regd office Proof

Process involved;After DSC and DIN has been obtained, we need to file Form 1 for name approval.

After name gets approved, Form 2 for LLP Incorporation is to be filed.Attachments;- Subscription sheet and Consent from the partners- Regd office ProofIt is important to note that Govt fees depends upon Capital Contribution.

After the registrar issues Certificate of Incorporation, llp Agreement is to be filed with the ROC in Form 3 within 30 days of Incorporation, otherwise penalty of Rs. 100 each day of default will be levied

Attachments;

LLP Agreement on Stamp paper. Value of Stamp paper is determined depending upon the capital contribution and state to state.

To know more, contact CS Neha Seth at 9871903449 or email us at csnehaseth@gmail.com

Appointment of Auditors for first AGM for filing for FY 2014-15

Every company shall at its First AGM appoint an Individual or firm as an auditor who shall hold office from conclusion of that AGM till conclusion of sixth AGM and thereafter till conclusion of every sixth AGM

E.g, if your company was registered on 21st July 2014, then, your Financial year ends on following 31st March i.e. 31st March 2015, so first AGM should be held on 31st Dec 2015 (within 9 months from the end of first FY).

So, now the company must appoint its First Auditors for a term of 6 years on its First AGM i.e on 31st Dec 2015.

E.g if your company has its Second AGM for FY 2014-15, then, due date of AGM for this company would be 30th Sep 2015 (within 6 months from ending of FY). So, this company is not required to appoint auditors but they need to ratify the appointment of Auditors in this AGM by passing Ordinary Resolution. So, for ensuing 6th AGM, the company has to place the matter for Ratification for Appointment of Auditors. THis is basically confirmation of auditors appointment.

There is no requirement to file Form ADT 1 everytime you ratify.
Form ADT 1 has to be filed for appointment.
Though, Eligibility Certificate has to be given by the Auditor.
While drafting Notice of AGM, it is recommended to give Explanatory Statement for ratification of Auditors, though not mandatory as it is Ordinary Resolution and not special Resolution.

To know more, contact CS Neha Seth at 9871903449 or email us at csnehaseth@gmail.com