Law Aspire (CS) (755 Points)
17 November 2011If till 31st March,2011 paid up capital of a unlisted company is less than5 Crore but it increases after 1st April 2011 and becomes12 Crores whether the filing for the Financial Year 2010-11is to be done By XBRL mode or not.
At Present MCA is showing paid- up as12 Crore . Please Clarify?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 17 November 2011
Under Phase I following class of companies are required to file their Balance Sheet and Profit and Loss Account in XBRL Format:-
The Capital of your Company has increased after 31st March, 2011 therefore, in my opinion, it will not be covered under phase-I.
CA GOVIND KRISHNA AGARWAL
(CA)
(202 Points)
Replied 17 November 2011
Yes, Agreed with Mr. CS Ankur.
In the initial phase, the MCA mandate applies to:
•
All companies listed in India and their Indian subsidiaries; or
•
All companies having a paid up capital of INR 5 croresand above; or
•
All companies having a turnover of INR 100 croresand above.
For the purpose of date for identifying capital, 31st march is to be taken because for the purpose of turnover FY is to be taken.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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