One of my client has made allotment of shares in the year 2010-11 , but as a matter of compliance he has not filed form 2 with ROC, so is it mandatory for an Auditor to check whether the compliance procedure has been completed before signing the Balance Sheet, and if at all the client gives a guarantee that he files a back dated form and gets it approved after Sept, 30th , shall we increase the paid up capital by that stand.
Better you can compel them to file the form2 with the concerned RoC. They can file the form2 with back dated and also with additional fee. If they failed to file the form, then the certification will be void. Why dont they file the form2 at now, what difficulty they feel while filing the form before the IT?
We can go through this way if we want to help the company by giving the report before filing the form2, check whether the amount had been deposited with the bank account. The share Certificates to the relevant share holders are issued or not?. if it properly complied then you can increase the paid up capital in your report and ask them to file the form2 soon.
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