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    Schedule III

    Uploaded by

    javeed basha syed
    Acs Schedule III

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Schedule III

    Uploaded by

    javeed basha syed
    0 views7 pages
    Acs Schedule III

    Original Title

    schedule_iii

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    Acs Schedule III

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    0 views7 pages

    Schedule III

    Uploaded by

    javeed basha syed
    Acs Schedule III

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

    ScheduleIII Amendments

    S S QUADRI & CO.


    CHARTERED ACCOUNTANTS
    M.NO.7903227392, 9973537886
    e-Mail:[email protected]

    ▪ MCA has vide Notification dated 24th March,2021


    made series of Changes in Schedule-III
    ▪ Effective from 1st April, 2021
    ▪ Changes are made to enhance transparency, provide
    necessary information to stakeholders.
    ▪ Changes can be categorized in six groups namely:-
    1. Improving Transparency and useful in Financial
    Analysis.
    2. Close Group Related.
    3. Control over Property.
    4. Control on Fund Movement.
    5. Compliance with Laws and Disclosures thereof.
    6. Presentation related Changes.

    NAHID SHALAUDDIN
    CHARTERED ACCOUNTANT
    1.Improving Transparency and useful in
    Financial Analysis:-

    Trade Receivables Disclosure regarding


    Trade Payabls ageing
    ageing revalaution

    CWIP and intangible


    Disclosures of 11
    Assets under
    Ratios
    development Ageing

    • Trade Payables and Receivables further segregated into ageing


    schedule.
    • Unbilled dues shall be closed separately.
    • Amount of change due to revaluation (if change is 10% or more
    in the aggregate of the net carrying value of each class of PPE)
    shall be disclosed separately.
    • Whether the revaluation is based on the valuation by a
    registered valuer has to be disclosed.
    • Further capital work in progress segregated into ageing schedule.
    • Details of projects where activity has been suspended shall be
    given separately.
    • Financial Ratios shall be closed, i.e. Current ratio, Net Profit ratio..
    2. CLOSE GROUP RELATED:-

    Disclosure of promoter's
    Shareholding
    Loan or Advances granted to
    promoters, directors, KMPs and
    the realated parties.

    • Disclosure shall be made where Loans or Advances in the


    nature of loans are granted to promoters, directors,
    KMPs and the related parties either severally or jointly
    with any other person, either repayable on demand or
    without specifying any terms or period of repayment.
    • Promoter’s Shareholding shall be disclosed irrespective
    of no of shares hold.
    3. CONTROL OVER PARTY:-

    Details of Benami Property held

    Realtionship with struck off Companies

    Detailed disclosures regarding title deeds of


    immovable property not held in the name of Co.

    • Company shall provide the details of all the immovable


    property whose title deeds are not in the name of the
    company.
    • Where such immovable property is jointly held with others,
    details are required to be given to the extent of the
    company’s share.
    4. CONTROL OF FUND MOVEMENT:-

    Disclosures on
    circular movement
    of fund

    Disclosures when
    Use of borrowing for borrowing based on
    specific purpose security of current
    assets

    Disclosures in Complaince
    case a company with number of
    is a declared layers of
    wilful defaulter companies
    5. COMPLIANCE WITH LAWS AND DISCLOSURES
    THEREOF:-

    Pending registration of charges or


    satisfaction with Registrar of companies.

    Complaince with approved Disclosure


    Scheme(s) of Arrangements regarding CSR

    Details of Details of Details of


    Crypto Virtual undisclosed
    Currency Currency income
    6. PRESENTATION RELATED CHANGES:-

    Presentation of PPE and Intangible Assets.

    Classification of current maturities of Long


    term borrowings and security deposits

    Presentation of Grants or donations received

    • On face of balance sheet, Heading will be Property, Plant &


    Equipment and Intangible Assets, instead of Property, Plant &
    Equipment.
    • To disclose “current maturities of Long-term borrowings”
    separately under heading of “Short-term Borrowings”.
    • “Security Deposits” under heading of “Other Non-Current Assets”

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