Sec-25 companies
This query is : Resolved
19 June 2015
schedule-III of the companies act 2013 is applicable to sec-8 companies or sec-25 companies
19 June 2015
It is important to note that all Companies whether public or private and
irrespective of level of operations are required to prepare their financial
statements, in the manner provided in Schedule III.
However, the requirements of the Schedule III, do not apply to any
insurance or banking company, or any company engaged in the generation
or supply of electricity or to any other class of company for which a form of
financial statement has been specified in or under any other Act governing
such class of company. This is in line with the earlier provisions wherein the
Schedule VI was not applicable to above mentioned companies.
irrespective of level of operations are required to prepare their financial
statements, in the manner provided in Schedule III.
However, the requirements of the Schedule III, do not apply to any
insurance or banking company, or any company engaged in the generation
or supply of electricity or to any other class of company for which a form of
financial statement has been specified in or under any other Act governing
such class of company. This is in line with the earlier provisions wherein the
Schedule VI was not applicable to above mentioned companies.
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