19 September 2011
Dear Friends, What is the liability of a practising professionals who certifced some E forms as mostly the e forms are received on mail and certifed and sent bach to the client by e mail.I just want t know except prima facei correctness of the form and attachment, what else is the responsibility specially w.r.t. to the specific cases as under:
1. Where a form like form 23,5 and form 2 are certifed after a gap of abot 6 month from the date of event.
2. In case of a form2 certifed in which face value is rs 10 and premium is Rs 250/- per share and that too a pref. share. We do not know whether the actual allotment money has been received in cash/cheque or is a a book entry or even not received at all.
19 September 2011
For form 5 & 23 for increase in capital you can check the resolutions passed and have a signed copy of the same and the amended MOA & AOA.
For form 2 you can have a signed list of allotees as per the format given by MCA and resolution specifying that amounts have been received and are hereby allotment of shares are made.
Thanks a lot. The documenntation part is ok.But how will I justify that a preference share of Rs 10/- has been issued at a premium of Rs 240/- we know that a preference shareholder has no other right in the company except the right to predetermind dividend.
Secondly, how will a certifying professional will ensure whether the allotment money has been received or not pior to allotment.
CAclubindia
