Agm due date

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CA Vijay Kumar Singhal (Querist)
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27 December 2015 One company incorporated on 27/01/2014 with paid up capital of 10 lakhs. i have following queries in respect of such company:
1. Co. Act 1956 or Co. Act. 2013 will be applicable?
2. Can we take the 1st F.Y. upto 31/03/2015?
3. If 1st F.Y. is upto 31/03/2015, what is the due date of 1st AGM?
4. If 1st auditor not appointed by the board/members, what is the solution?
5. Which Annual filing forms applicable i.e. Forms 20B/23AC/23ACA etc or Form AOC-4/MGT-7
6. Since Paid up capital is 10 lakhs, whether form 66 is to be filed or not applicable as per new act.

Respected all the experts, Kindly solve these queries at the earliest. Thanks in advance

Pratik Shah

Pratik Shah (Expert)
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27 December 2015 Your first financial year can be till 31/03/2015.
Your due date of AGM will be till 31/12/2015.
You need to file form 23ac and 23 aca for filing financial statement. However, annual return shall be filed in mgt-7.
I am not sure for form 66 ( whether to file or not) you can confirm this from roc office.

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CA Vijay Kumar Singhal

CA Vijay Kumar Singhal (Querist)
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28 December 2015 any other expert kindly confirm about filing of Form 66 in respect of above query

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CA Vijay Kumar Singhal

CA Vijay Kumar Singhal (Querist)
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28 December 2015 any other expert kindly confirm about filing of Form 66 in respect of above query

Ankur Garg

Ankur Garg (Expert)
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04 January 2016 1. Companies Act 2013 will be applicable now.
2. Your first FY as per CA 1956 would be 31/03/2015. First FY would be decided as per CA 1956 which was applicable at the time of incorporation.
3. Due date of first AGM would be 31.12.2015 as per section 96 of the Companies Act 2013.
4. For provisions regarding appointment of first auditor kindly refer section 224(5) of the Companies Act 1956.
5. AOC 4 and MGT 7 would be applicable.
6. Form 66 not required to be filed as annual filing will be regulated by Companies Act 2013.

Thanks

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Pratik Shah

Pratik Shah (Expert)
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04 January 2016 Dear Ankur Sir,

As per Circular dated 04.04.2014, if company's financial year has started before 01.04.2014, it needs to file Financial statement as per old Act.

In his case, company was incorporated before 01.04.2014, hence he need to file Form 23AC and 23ACA. Kindly confirm. AOC-4 will not accept date if it is before 01.04.2014.

Thanks

CA Vijay Kumar Singhal

CA Vijay Kumar Singhal (Querist)
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04 January 2016 Dear Ankur Ji
I have the same doubt about Form 23 AC/23ACA and Form 66 as the F.Y. commenced before 01/04/2014.

Ankur Garg

Ankur Garg (Expert)
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04 January 2016 Dear Pratik,

Initially I thought MCA allowed use of form 23AC and 23ACA for annual filing related to FY 2013-14 and use as a base of my reply. For annual filing related to FY 2014-15, new forms should be used.

But at the same time your interpretation also seems correct for companies incorporated before 01.04.2014 as MCA system might refuse to accept new forms for companies incorporated before 01.04.2014. Accordingly user is advised to use old e-forms including form 66. Thanks for the timely advice.

Thanks

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Pratik Shah

Pratik Shah (Expert)
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04 January 2016 I had the same situation in one case wherein I could not fill up Form AOC-4 as the company's incorporation date was before 01.04.2014.
If you read that Circular, it has mentioned only regarding Financial statement and Directors report. It has not mentioned anything regarding Annual Return.

Hence, I could file Form MGT-7 and 23AC 23ACA for this company.
But I am not sure about Form 66.

Ankur Garg

Ankur Garg (Expert)
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04 January 2016 Based on above discussion, I feel that form 66 should be filed to be on a safer side. However the same seems highly impracticable for annual filing related to 2014-15.

Thanks