feeleminds.com

Your Knowledge Partner!

Mandatory SRN of Form 23B

Companies Act | Rules | Company Law Board | MRTP | Competition Act | Depositories Act | SICA | eFiling queries | Bugs | SEBI Guidelines | SEC rules | Investor Protection | Independent Directors | Listing Agreement | Takeover Code | Corporate Governance | Audit Committee

Moderators: srinivasaraghavan, feele, sumitpahwa

Mandatory SRN of Form 23B

Postby Chandan Kr. Dowerah » Fri Oct 10, 2008 1:15 pm

Dear Friends,
Copy of my brief Article sent to MCA on 8th October, 2008 is given below.
Thanks and regards,
Chandan Kr. Dowerah
Company Secretary in Practice


SRN of Form 23B in newly introduced Form 23AC from 28-9-2008[Prepared on: 8th October, 2008]
Chandan Kr. Dowerah
Company Secretary in Practice
....................................Guwahati-781003 (Assam)
e-mail : ..........................

Form 23B (Information by auditor to Registrar) is required pursuant to section 224(1A) of the Companies Act, 1956. As per section 224(1A) of the Companies Act, 1956, every auditor appointed under sub-section (1), shall within thirty days of the receipt from the company of the intimation of his appointment, inform the Registrar in writing that he has accepted or refused to accept the appointment.
Appointment under sub-section (1) of section 224 of the Companies Act, 1956 refers to appointment of auditor/auditors made at annual general meeting.
Thus as per section 224(1A) of the Companies Act, 1956, the auditor appointed at annual general meeting only is to inform the Registrar in writing (in Form 23B).
Form 23B (Information by auditor to Registrar) accordingly mentions at Sl. No. 6. “Date of annual general meeting in which auditor is appointed”
In the following circumstances, the auditor is appointed at other than annual general meeting. Since the auditor is not appointed at annual general meeting, Form 23B (Information by auditor to Registrar) is not required under section 224(1A) of the Companies Act, 1956.
Section Brief contents Whether Form 23B required
224(3) Appointment by Central Government where no auditor appointed/re-appointed at annual general meeting
Not required as appointment is not under section 224(1)
224(5) First auditor to be appointed by Board of directors within one month of the date of registration of the company Not required as appointment is not under section 224(1)
224(5)
Proviso (a) The company may at general meeting remove first auditor appointed by Board and appoint new auditor
Not required as appointment is not under section 224(1)
224(5)
Proviso (b) If the Board does not appoint first auditor within one month, the company in general meeting may appoint
first auditor
Not required as appointment is not under section 224(1)
224(6)(a) The Board may fill casual vacancy in the office of an auditor
Not required as appointment is not under section 224(1)
224(6)(a) Proviso Resignation of an auditor: Vacancy to be filled by the company in general meeting
Not required as appointment is not under section 224(1)
224A(2) Where special resolution is not passed in certain specific cases, section 224(3) becomes applicable, i.e.,
appointment by Central Government
Not required as appointment is not under section 224(1)
619 The auditor of a Government Company to be appointed by the Comptroller and Auditor-General of India
Not required as appointment is not under section 224(1)
619B Provisions of section 619 to apply to certain companies, i.e., appointment by the Comptroller and Auditor-
General of India
Not required as appointment is not under section 224(1)
In the above cases, Form 23B (Information by auditor to Registrar) is not required pursuant to section 224(1A) of the Companies Act, 1956 as appointment of auditor is not made at annual general meeting.
The newly introduced Form 23AC (from 28-9-2008) requires mandatory filling up of the SRN of Form 23B at Part A-Sl. No. 10. Since Form 23B (Information by auditor to Registrar) is not required in several cases as shown in the Table, it is suggested that as an immediate measure, filling up of SRN of Form 23B be made OPTIONAL. Otherwise, many companies will not be able to file Form 23AC & Form 23ACA.
….
Last edited by Chandan Kr. Dowerah on Sat Oct 11, 2008 5:01 pm, edited 1 time in total.
Chandan Kr. Dowerah
Professional eMind !
 
Posts: 57
Joined: Sat Jul 07, 2007 7:52 pm
Location: Guwahati

Re: Mandatory SRN of Form 23B

Postby pranav » Fri Oct 10, 2008 3:35 pm

Very good work done Mr. Chandan..All the best
pranav
Addict eMind !
 
Posts: 120
Joined: Tue Aug 19, 2008 3:14 pm

Re: Mandatory SRN of Form 23B

Postby pskumar » Fri Oct 10, 2008 5:39 pm

Dear Chandan Kr. Dowerah

This topic has been discussed at length in the forum.

Asking SRN of 23B is not a serious crime.

In the form 23B, there is no star mark on the field, AGM in which auditor is appointed, but

there is a star mark on the field date of intimation by the company.

This means that MCA is very much aware of the provisions.

One can put the date in the relevant field and in the attachments, one can attach the

resolution,specifying the event wherte in, the auditor is appointed.

The intention behind asking SRN is very genuine i.e., is to track the no.of appointments.

More over,there is no fee for filing 23B even if it is a delayed one.
Regards
Sudhir kumar.
pskumar
Addict eMind !
 
Posts: 139
Joined: Sat Jul 28, 2007 9:46 am
Location: Hyderabad

Re: Mandatory SRN of Form 23B

Postby Krishv » Fri Oct 10, 2008 7:22 pm

Forms 20B and 23AC seem to have been updated o 7th and 8th October. Alos the help file for Form 23AC has the following instruction (Sl.No.10):

QUOTE:
Enter the number of auditor(s) of the company
Enter the details of auditor(s) who is signing the balance sheet, or, Enter the details of auditor’s firm(s) if the concerned auditor is associated with a firm.
Enter the SRN of Form 23B filed in relation to the appointment of the auditor who has audited the attached balance sheet, if available. If the SRN of Form 23B is not available or in case information by auditor to RoC in Form 23B is not required to be filed, you may enter Z99999999.
You can enter details of a maximum of 2 Auditor(s) in the eForm and rest, if any, can be provided as an optional attachment to the eForm.
UNQUOTE
User avatar
Krishv
Expert eMind !
 
Posts: 275
Joined: Sun Jul 08, 2007 1:44 pm

Re: Mandatory SRN of Form 23B

Postby csjyotika » Sat Oct 11, 2008 2:50 pm

thanks krishv for providing such valuable information
csjyotika
Addict eMind !
 
Posts: 178
Joined: Thu Jun 12, 2008 9:07 am

Re: Mandatory SRN of Form 23B

Postby Chandan Kr. Dowerah » Sat Oct 11, 2008 5:22 pm

I am thankful to MCA for the following new instructions in Form 23AC:
"....in case information by auditor to RoC in Form 23B is not required to be filed, you may enter Z99999999."

I have some other matter. I will first see if some other friends have already raised that matter.If not, I will inform later.

[I need one guidance:My Article on SRN of Form 23B has three columns. But when I made Copy & Paste, the Table has gone.]

Thanks and regards,

Chandan Kr. Dowerah
Company Secretary in Practice
Chandan Kr. Dowerah
Professional eMind !
 
Posts: 57
Joined: Sat Jul 07, 2007 7:52 pm
Location: Guwahati

Re: Mandatory SRN of Form 23B

Postby ulhas bhat » Mon Oct 13, 2008 6:28 pm

Thanks KrishV and Chandan Dowerah for this useful piece of information at this crucial juncture.
Regards,
CS Ulhas Sodankoor Bhat
User avatar
ulhas bhat
Champion eMind!
 
Posts: 594
Joined: Sun Jul 08, 2007 11:58 am
Location: Mangalore Karnataka

Re: Mandatory SRN of Form 23B

Postby csjyotika » Tue Oct 14, 2008 10:41 am

Hi all,

The last date for filing 23 AC is near but our auditor has not yet given us SRN of 23B so can we file it by mentioning Z999999 ..................
csjyotika
Addict eMind !
 
Posts: 178
Joined: Thu Jun 12, 2008 9:07 am

Re: Mandatory SRN of Form 23B

Postby maslekar » Tue Oct 14, 2008 12:03 pm

The latest clarification issued by ICSI, solves this issue. Yes if you have not received Form No.23B, you still go ahead and submit Form No.23AC as discussed earlier.
V.Maslekar
maslekar
Addict eMind !
 
Posts: 167
Joined: Wed Jul 11, 2007 12:24 pm


Return to Corporate Law

Who is online

Registered users: Abrekilore, arbibebob, hakydiadark

cron

eMinds Legal Counsulting Pvt. Ltd.
D-126, 2nd Floor, Sector 56,
Gurgaon -122011, India,

(O): +91 11 426 0141

(E) : info@emindslegal.com
(W): www.emindslegal.com

Subscriptions

Registration to both the below newsletters is free and entitles you to receive 1 mail per day. We don’t Spam and you can unsubscribe anytime.

Corporate Law Reporter -  the daily journal

We regularly send legal updates related to Corporate Laws, FEMA, Compliances and Direct & Indirect Taxation.

Click here to register your email id for Daily Legal updates from Corporate Law Reporter - the Daily Journal.

feeleminds.com discussion forums

Click here to Subscribe to feeleminds discussion forums to get the gist of all discussions exchanged during the day

Our Service Offerings:

CORPORATE LAWS | FEMA | COMPLIANCE AUDITS | STPI | SEZ | CYBER LAWS | PRIVATE EQUITY | CORPORATE RESTRUCTURING

Follow us on

This legal update is the copyright of eMinds Legal. The update is not intended to be a form of solicitation or advertising. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate thereafter. No person should act on such information without appropriate professional advice based on the circumstances of a particular situation.