TMI BlogAmendment to Schedule III to the Companies Act, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... gible Assets , the words Property, Plant and Equipment shall be substituted; (B) in the Notes , under the heading General Instructions for Preparation of Balance Sheet , in paragraph 6,- (I) under the heading A. Share Capital , after item (l) and the entries relating thereto, the following shall be inserted, namely: (m) A company shall disclose Shareholding of Promoters* as below: Shares held by promoters at the end of the year % Change during the year*** S. No Promoter name No. of Shares** % of total shares** Total *Promoter here means promoter as defined in the Companies Act, 2013. ** Details shall be given separately for each class of shares *** percentage change shall be computed with respect to the number at the beginning of the year or if issued during the year for the first time then with respect to the date of issue. (II) under the heading F. Short-term borrowings , aft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intangible assets) and other adjustments and the related depreciation and impairment losses or reversals shall be disclosed separately. ; (VII) Under the heading L. Long-term loans and advances , in item (i), sub-item (b) shall be omitted; (VIII) Under the heading M. Other non-current assets ,- (a) after item (i), the following shall be inserted, namely: (ia) Security Deposits (b) after item (iii), the following shall be inserted, namely: (iv) For trade receivables outstanding, following ageing schedule shall be given: Trade Receivables ageing schedule (Amount in Rs.) Particulars Outstanding for following periods from due date of payment# Less than 6 months 6 months - 1 year 1-2 years 2-3 years More than 3 years Total (i) Undisputed Trade receivables considered good (ii) Undisputed Trade Receivables considered doubtful (iii) Disputed Trade Receivables considered good (iv) Disputed Trade Receivables considered doubtful ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble property is jointly held with others, details are required to be given to the extent of the company s share. Relevant line item in the Balance sheet Description of item of property Gross carrying value Title deeds held in the name of Whether title deed holder is a promoter, director or relative# of promoter*/director or employee of promoter/director Property held since which date Reason for not being held in the name of the company** PPE - Investment property - PPE retired from active use and held for disposal - others Land Building Land Building Land Building - - - - **also indicate if in dispute #Relative here means relative as defined in the Companies Act, 2013. *Promoter here means promoter as defined in the Companies Act, 2013. (i) Where the Company has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a) For Intangible assets under development, following ageing schedule shall be given: Intangible assets under development aging schedule (Amount in Rs.) Intangible assets under development Amount in CWIP for a period of Total* Less than 1 year 1-2 years 2-3 years More than 3 years Projects in progress Projects temporarily suspended * Total shall tally with the amount of Intangible assets under development in the balance sheet. (b) For Intangible assets under development, whose completion is overdue or has exceeded its cost compared to its original plan, following Intangible assets under development completion schedule shall be given**: (Amount in Rs.) Intangible assets under development To be completed in Less than 1 year 1-2 years 2-3 years More than 3 years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with struck-off Company Balance outstanding Relationship with the Struck off company, if any, to be disclosed Investments in securities Receivables Payables Shares held by stuck off company Other outstanding balances (to be specified) (x) Registration of charges or satisfaction with Registrar of Companies Where any charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period, details and reasons thereof shall be disclosed. (xi) Compliance with number of layers of companies Where the company has not complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017, the name and CIN of the companies beyond the specified layer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering act, 2002 (15 of 2003).; (B) Where a company has received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, the company shall disclose the following:- (I) date and amount of fund received from Funding parties with complete details of each Funding party. (II) date and amount of fund further advanced or loaned or invested other intermediaries or Ultimate Beneficiaries alongwith complete details of the other intermediaries or ultimate beneficiaries. (III) date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries (IV) declaration that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it or loss on transactions involving Crypto currency or Virtual Currency (b) amount of currency held as at the reporting date, (c) deposits or advances from any person for the purpose of trading or investing in Crypto Currency/ virtual currency. ; (b) in Division II, (i) under the heading General instructions for preparation of Financial Statements of a company required to comply with Ind AS , in paragraph 5, for the word Turnover , at both the places where it occurs, the words Total Income shall be substituted; (ii) in Part I- Balance Sheet,- (A) under the heading Equity and Liabilities , in sub-heading Liabilities ,- (I) in item (1) Non-current liabilities , in sub-item (a) Financial Liabilities , after (i), the following shall be inserted, namely:- (ia) Lease liabilities (II) in item (2) Current Liabilities , in sub-item (a) Financial Liabilities , after (i), the following shall be inserted, namely:- (ia) Lease liabilities (B) for the heading Statement of Changes in Equity and the entries relating thereto, the following shall be substituted, namely: STATEMENT OF CHANGES IN EQUITY Name of the Company.......... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Changes in accounting policy or prior period errors Restated balance at the beginning of the current reporting period Total Compre hensive Income for the current year Dividends ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Changes in accounting policy/prior period errors Restated balance at the beginning of the previous reporting period Total Compre hensive Income for the previous year Dividends ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of intangible assets) and other adjustments and the related amortization and impairment losses or reversals shall be disclosed separately. (iii) under the sub-heading VII. Trade Receivables , after item (iii), the following item shall be inserted, namely:- (iv) For trade receivables outstanding, following ageing schedule shall be given: Trade Receivables ageing schedule (Amount in Rs.) Particulars Outstanding for following periods from due date of payment# Less than 6 months 6 months - 1 year 1-2 years 2-3 years More than 3 years Total (i) Undisputed Trade receivables considered good (ii) Undisputed Trade Receivables which have significant increase in credit risk (iii) Undisputed Trade Receivables credit impa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elating thereto, the following shall be inserted, namely:- VA. Other Financial Assets: This is an all-inclusive heading, which incorporates financial assets that do not fit into any other financial asset categories, such as, Security Deposits. (c) under the heading D. Equity , in sub-heading I. Equity Share Capital , after item (l), the following item shall be inserted, namely:- (m) A company shall disclose Shareholding of Promoters* as under: Shares held by promoters at the end of the year % Change during the year*** S. No Promoter name No. of Shares** % of total shares Total *Promoter here means promoter as defined in the Companies Act, 2013. ** Details shall be given separately for each class of shares *** percentage change shall be computed with respect to the number at the beginning of the year or if issued during the year for the first time then with respect to the date of issue. ; (d) under the heading E. Non-Current ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the company s share. Relevant line item in the Balance sheet Description of item of property Gross carrying value Title deeds held in the name of Whether title deed holder is a promoter, director or relative# of promoter*/director or employee of promoter/director Property held since which date Reason for not being held in the name of the company** PPE - Investment property - Non-current asset held for sale - others Land Building Land Building Land Building - - - - **also indicate if in dispute #Relative here means relative as defined in the Companies Act, 2013. *Promoter here means promoter as defined in the Companies Act, 2013. (ii) The Company shall disclose as to whether the fair value of investment property (as measured for disclosure purposes in the financial statements) is based ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CWIP To be completed in Less than1 year 1-2 years 2-3 years More than 3 years Project 1 Project 2 **Details of projects where activity has been suspended shall be given separately. (vii) Intangible assets under development: (a) For Intangible assets under development, following ageing schedule shall be given: Intangible assets under development aging schedule (Amount in Rs.) Intangible assets under development Amount in CWIP for a period of Total* Less than 1 year 1-2 years 2-3 years More than 3 years Projects in progress Projects temporarily suspended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h is categorized as a willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India. (xi) Relationship with Struck off Companies Where the company has any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956, the Company shall disclose the following details, namely:- Name of struck off Company Nature of transactions with struck-off Company Balance outstanding Relationship with the Struck off company, if any, to be disclosed Investments in securities Receivables Payables Shares held by stuck off company Other outstanding balances (to be specified) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ltimate Beneficiaries; the company shall disclose the following:- (I) date and amount of fund advanced or loaned or invested in Intermediaries with complete details of each Intermediary. (II) date and amount of fund further advanced or loaned or invested by such Intermediaries to other intermediaries or Ultimate Beneficiaries alongwith complete details of the ultimate beneficiaries. (III) date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries (IV) declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering act, 2002 (15 of 2003).; (B) Where a company has received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or (ii) provide any guarantee, secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure as per relevant Accounting Standard, (viii)where a provision is made with respect to a liability incurred by entering into a contractual obligation, the movements in the provision during the year shall be shown separately. (n) details of Crypto Currency or Virtual Currency Where the Company has traded or invested in Crypto currency or Virtual Currency during the financial year, the following shall be disclosed:- (i) profit or loss on transactions involving Crypto currency or Virtual Currency, (ii) amount of currency held as at the reporting date, (iii) deposits or advances from any person for the purpose of trading or investing in Crypto Currency or virtual currency. (c) in Division III,- (i) in Part I- Balance Sheet,- (A) for the heading Statement of Changes in Equity and the entries relating thereto, the following shall be substituted, namely: STATEMENT OF CHANGES IN EQUITY Name of the Company.............. A. Equity Share Capital (1) Current reporting period Balance at the beginning of the current reporting period Changes in Equity Share Capital due to prior period errors Restated b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... policy/pri or period errors Restat ed balanc e at the beginn ing of the current reporti ng period Total Compreh ensive Income for the current year Dividend s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Changes in accountin g policy/pri or period errors Restat ed balanc e at the beginn ing of the previo us reporti ng period Total Compreh ensive Income for the previous year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ificant increase in credit risk (iii) Undisputed Trade Receivables credit impaired (iv) Disputed Trade Receivables considered good (v) Disputed Trade Receivables which have significant increase in credit risk (vi) Disputed Trade Receivables credit impaired # similar information shall be given where no due date of payment is specified in that case disclosure shall be from the date of the transaction. Unbilled dues shall be disclosed separately ; (II) under the heading (H) Property, Plant and Equipment , for item(iii), the following shall be substituted, namely:- (iii) A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations, amount of change due to revaluation (if change is 10% or more in the aggregate of the net carrying value of each class of Property, Plant and Equipment) and other adjustments and the related depreciation and impairment losses or reversals shall be disclosed separatel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of issue. (VI) after heading W , the following shall be inserted, namely:- (WA) Where the company has not used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date, the company shall disclose the details of where they have been used.; (WB) Additional Regulatory Information (i) Title deeds of Immovable Properties not held in name of the Company The company shall provide the details of all the immovable property (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company in following format and where such immovable property is jointly held with others, details are required to be given to the extent of the company s share. Relevant line item in the Balance sheet Description of item of property Gross carrying value Title deeds held in the name of Whether title deed holder is promoter, director or relative # of promoter/director or employ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (vi) Capital-Work-in Progress (CWIP) (a) For Capital-work-in progress, following ageing schedule shall be given: CWIP aging schedule (Amount in Rs.) CWIP Amount in CWIP for a period of Total* Less than 1 year 1-2 years 2-3 years More than 3 years Projects in progress Projects temporarily suspended * Total shall tally with CWIP amount in the balance sheet. (b) For capital-work-in progress, whose completion is overdue or has exceeded its cost compared to its original plan, following CWIP completion schedule shall be given** : (Amount in Rs.) CWIP To be completed in Less than1 year 1-2 years 2-3 years More than 3 years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings, status of same and company s view on same. (ix) Where the Company has borrowings from banks or financial institutions on the basis of security of current assets, it shall disclose the following:- (a) whether quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts, (b) if not, summary of reconciliation and reasons of material discrepancies if any to be adequately disclosed. (x) Wilful Defaulter* Where a company is a declared wilful defaulter by any bank or financial Institution or other lender, following details shall be given, namely:- (a) date of declaration as wilful defaulter, (b) details of defaults (amount and nature of defaults). *wilful defaulter here means a person or an issuer who or which is categorized as a wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium thereof, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India. (xi) Relationship with Struck off Companies Where the company has any transactions with the companies struck off under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries; the company shall disclose the following:- (I) date and amount of fund advanced or loaned or invested in Intermediaries with complete details of each Intermediary. (II) date and amount of fund further advanced or loaned or invested by such Intermediaries to other intermediaries or Ultimate Beneficiaries alongwith complete details of the ultimate beneficiaries. (III) date and amount of guarantee, security or the like provided to or on behalf of the Ultimate Beneficiaries (IV) declaration that relevant provisions of the Foreign Exchange Management Act, 1999 (42 of 1999) and Companies Act has been complied with for such transactions and the transactions are not violative of the Prevention of Money-Laundering act, 2002 (15 of 2003).; (B) Where a company has receive ..... X X X X Extracts X X X X X X X X Extracts X X X X
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