Articles by CS Divesh Goyal

ICSI - Auditing Standards

Posted by CS Divesh Goyal 06 August 2021 2288 Views

The aim of the Auditing Standards is to support a CS in developing auditing acumen, techniques and tools, to inculcate best auditing practices, and to promote standardization and uniformity.

The Companies Amendment Bill 2020 - Impact on Penalties / Fine / Imprisonment

Posted by CS Divesh Goyal 06 August 2021 1365 Views

Discussing 10 changes pertaining to Formation of Companies, Variation of shareholder's Rights, Reduction of Share Capital, Debentures and 6 more proposed in The Companies Amendment Bill 2020.

Criticalities in the annual filing for FY ended 31st March 2021

Posted by CS Divesh Goyal 04 August 2021 1167 Views

There are several criticalities in the Annual Filing for the FY ended 31st March 2021. Discussing the same from the point of view of Financial statements via 20 FAQs.

How can an Auditor report a disqualification of a director in the Audit Report?

Posted by CS Divesh Goyal 04 August 2021 8462 Views

It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.

How to file DPT-3 in case of Loan from shareholder?

Posted by CS Divesh Goyal 04 August 2021 2221 Views

Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of the Companies Act, 2013.

Is Auditor Certificate mandatory for DPT-3?

Posted by CS Divesh Goyal 04 August 2021 20365 Views

Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.

FAQs on Annual General Meeting (AGM) & Extension due to COVID 19

Posted by CS Divesh Goyal 04 August 2021 4363 Views

At an AGM, the directors of the company present an Annual report containing information for the shareholders about the company's performance and strategy.

FAQs on Disqualification of Director

Posted by CS Divesh Goyal 04 August 2021 6177 Views

If a person has been disqualified in any company due to section 167(1) such person shall be considered as ceased in all other companies wherever he was appointed as a Director.

Can the Financial Statements be signed digitally?

Posted by CS Divesh Goyal 04 August 2021 23871 Views

As per the meaning of the Digital Signature and Section 134, we can opine that the financial statements of the Company can be signed either physically or digitally.

Whether a company can give loan to director or whole time director?

Posted by CS Divesh Goyal 04 August 2021 6217 Views

It is clear that Companies can give a loan to their Managing Director/ WTD without any restriction under Section 185. However, as per Section 186, it is not mandatory to charge interest on such a loan.