Amendment to Schedule III of Compancy Act 2013

MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 24th March, 2021

G.S.R. 207(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies
Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments in Schedule III to
the said Act with effect from 1st day of April, 2021, namely:-
In the said Schedule,-
(a) in Division I,-
(i) under the heading ―General instructions for preparation of Balance Sheet and statement of Profit and Loss of
a company‖, under sub-heading ―General instructions‖, in paragraph 4, in clause (i), for the word ―may‖ the word
―shall‖ and 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 ―II Assets‖, under sub-heading ―Non-current assets‖, after the words ―Property, Plant and
Equipment‖, the words ―and Intangible assets‖ shall be inserted and for the words ―Tangible 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‖, after item (iv) and the entries relating thereto, the
following shall be inserted, namely:
―(v) current maturities of Long term borrowings shall be disclosed separately.‖ ;
(III) after the heading ―FA. Trade Payables‖ and the entries relating thereto, the following shall be
inserted, namely:
―FB. Trade payables due for payment
The following ageing schedule shall be given for Trade payables due for payment:-
Trade Payables ageing schedule
(Amount in Rs.)
Particulars Outstanding for following periods from due date of
payment#
Less than
1 year
1-2
years
2-3 years More than 3
years
Total
(i)MSME
(ii)Others
(iii) Disputed dues –
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 41
MSME
(iv) Disputed dues –
Others
# 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;
(IV)under the heading ―G. Other current liabilities‖, item (a) shall be omitted;
(V) Under the heading ―I. Tangible Assets‖,-
(a) for the words ―Tangible Assets‖, the words ―Property, Plant and Equipment‖ shall be
substituted;
(b) 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/reversals shall be
disclosed separately.‖;
(VI) Under the heading ―J. Intangible assets‖, for item (ii), the following shall be substituted, namely:-
―(ii) 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 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
# 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.
42 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
Unbilled dues shall be disclosed separately.‖;
(IX) Under the heading ―P. Trade Receivables‖, for item (i), the following item shall be substituted,
namely:-
― (i) For trade receivables outstanding, the following ageing schedules 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
# 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.‖;
(X) After heading ―V.‖, following shall be inserted, namely:-
―VA. 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.‖;
(XI)in heading ―W.‖, after the words ―Property, Plant and Equipment‖, the words ―,Intangible assets‖ shall
be inserted;
(XII) heading ―X.‖ shall be omitted;
(XIII) after heading ―X.‖, the following shall be inserted, namely:
“Y. Additional Regulatory Information
(i) Title deeds of Immovable Property 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 format given below 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
carryin
g value
Title deeds
held in the
name of
Whether title deed
holder is a
promoter, director
or relative# of
promoter*/directo
r or employee of
promoter/director
Property
held since
which date
Reason for not
being held in
the name of
the
company**
PPE
–
Land
Building
– – – – **also indicate
if in dispute
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 43
Investment property
–
PPE retired from
active use and held
for disposal
–
others
Land
Building
Land
Building
#Relative here means relative as defined in the Companies Act, 2013.
*Promoter here means promoter as defined in the Companies Act, 2013.
(ii) Where the Company has revalued its Property, Plant and Equipment, the company shall disclose as to
whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the
Companies (Registered Valuers and Valuation) Rules, 2017.
(iii) Following disclosures shall be made where Loans or Advances in the nature of loans are granted to
promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013,) either
severally or jointly with any other person, that are:
(a) repayable on demand or
(b) without specifying any terms or period of repayment
Type of Borrower Amount of loan or advance in
the nature of loan outstanding
Percentage to the total
Loans and Advances
in the nature of loans
Promoters
Directors
KMPs
Related Parties
‖;
(iv) 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**:
44 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(Amount in Rs.)
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.
(v) 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
* 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
Project 1
Project 2
**Details of projects where activity has been suspended shall be given separately.
(vi) Details of Benami Property held
Where any proceedings have been initiated or pending against the company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder, the company
shall disclose the following:-
(a) Details of such property, including year of acquisition,
(b) Amount thereof,
(c) Details of Beneficiaries,
(d) If property is in the books, then reference to the item in the Balance Sheet,
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 45
(e) If property is not in the books, then the fact shall be stated with reasons,
(f) Where there are proceedings against the company under this law as an abetter of the transaction or as the
transferor then the details shall be provided,
(g) Nature of proceedings, status of same and company‘s view on same.
(vii) 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.
(viii) Wilful Defaulter*
Where a company is a declared wilful defaulter by any bank or financial Institution or other lender,
following details shall be given:
(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 Act) or consortium thereof, in
accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India.
(ix) 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:-
Name of struck
off Company
Nature of transactions with struckoff 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 layers and the relationship/extent of holding of the company in such
downstream companies shall be disclosed.
(xii)Following Ratios to be disclosed:-
(a) Current Ratio,
(b) Debt-Equity Ratio,
(c) Debt Service Coverage Ratio,
(d) Return on Equity Ratio,
(e) Inventory turnover ratio,
46 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(f) Trade Receivables turnover ratio,
(g) Trade payables turnover ratio,
(h) Net capital turnover ratio,
(i) Net profit ratio,
(j) Return on Capital employed,
(k) Return on investment.
The company shall explain the items included in numerator and denominator for computing the above ratios.
Further explanation shall be provided for any change in the ratio by more than 25% as compared to the
preceding year.
(xiii) Compliance with approved Scheme(s) of Arrangements
Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230
to 237 of the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of
Arrangements have been accounted for in the books of account of the Company ‗in accordance with the
Scheme‘ and ‗in accordance with accounting standards‘ and deviation in this regard shall be explained.
(xiv) Utilisation of Borrowed funds and share premium:
(A) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), 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 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 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).;
(iii) in Part II- Statement of Profit and Loss,-
(A) under the heading ―III. Total Revenue (I +II)‖, for the word ―Revenue‖, the word ―Income‖ shall be
substituted;
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 47
(B) under the heading ―General Instructions for Preparation of Statement of Profit and Loss‖,-
(I) in paragraph 2, in item (A), after sub-item (b), the following shall be inserted, namely:-
―(ba) Grants or donations received (relevant in case of section 8 companies only)‖;
(II) in paragraph ―5. Additional information‖, after item (viii) and the entries relating thereto, the
following shall be inserted, namely:-
―(ix) Undisclosed income
The Company shall give details of any transaction not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,
1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless
there is immunity for disclosure under any scheme and also shall state whether the previously
unrecorded income and related assets have been properly recorded in the books of account during the
year.;
(x) Corporate Social Responsibility (CSR)
Where the company covered under section 135 of the companies act, the following shall be disclosed with
regard to CSR activities:-
(a) amount required to be spent by the company during the year,
(b) amount of expenditure incurred,
(c) shortfall at the end of the year,
(d) total of previous years shortfall,
(e) reason for shortfall,
(f) nature of CSR activities,
(g) details of related party transactions, e.g., contribution to a trust controlled by the company
in relation to CSR expenditure as per relevant Accounting Standard,
(h) 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 should be shown
separately.
(xi) 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:-
(a) profit 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‖
48 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(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…………..
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 balance at the
beginning of the current
reporting period
Changes in equity share
capital during the current
year
Balance at the end of the
current reporting period
(2) Previous reporting period
Balance at the beginning
of the previous reporting
period
Changes in Equity Share
Capital due to prior
period errors
Restated balance at the
beginning of the previous
reporting period
Changes in equity share
capital during the
previous year
Balance at the end of the
previous reporting period
B. Other Equity
(1) Current reporting period
Share
application
money
pending
allotment
Equity
component
of
compound
financial
instrument
s
Reserves and Surplus
Money
received
against
share
warrants
Capital Total
Reserve
Securities
Premium
Other
Reserves
(specify
nature)
Retained
Earnings
Debt
instruments
through Other
Comprehensive
Income
Equity
Instruments
through Other
Comprehensive
Income
Effective
portion of
Cash Flow
Hedges
Revaluation
Surplus
Exchange
differences
on
translating
the financial
statements
of a foreign
operation
Other items of
Other
Comprehensive
Income
(specify
nature)
Balance at the
beginning of
the current
reporting
period
Changes in
accounting
policy or prior
period errors
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 49
Restated
balance at
the
beginning
of the
current
reporting
period
Total
Comprehensive
Income for the
current year
Dividends
Transfer to
retained
earnings
Any other
change (to be
specified)
Balance at the
end of the
current
reporting
period
(2) Previous reporting period
Share
application
money
pending
allotment
Equity
component
of
compound
financial
instrument
s
Reserves and Surplus
Money
received
against
share
warrants
Capital Total
Reserve
Securities
Premium
Other
Reserves
(specify
nature)
Retained
Earnings
Debt
instruments
through Other
Comprehensive
Income
Equity
Instruments
through Other
Comprehensive
Income
Effective
portion of
Cash Flow
Hedges
Revaluation
Surplus
Exchange
differences
on
translating
the financial
statements
of a foreign
operation
Other items of
Other
Comprehensive
Income
(specify
nature)
Balance at the
50 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
beginning of
the previous
reporting
period
Changes in
accounting
policy/prior
period errors
Restated
balance at
the
beginning
of the
previous
reporting
period
Total
Comprehensive
Income for the
previous year
Dividends
Transfer to
retained
earnings
Any other
change (to be
specified)
Balance at the
end of the
previous
reporting
period
Note: Remeasurment of defined benefit plans and fair value changes relating to own credit risk of financial liabilities designated at fair value through profit or loss shall be
recognised as a part of retained earnings with separate disclosure of such items alongwith the relevant amounts in the Notes or shall be shown as a separate column under
Reserves and Surplus ‖
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 51
(C) in the ―Notes‖, under the heading ―General Instructions For Preparation of Balance Sheet‖,-
(I) In paragraph 6,-
(a) under the heading ―A. Non-Current Assets‖,-
(i) under the sub-heading ―I. Property, Plant and Equipment‖, for item (iii), the following item 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 separately.‖;
(ii) under the sub-heading ―IV. Other Intangible assets‖, for item (ii), the following item shall be
substituted, namely:-
―(ii) 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 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
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‖;
52 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(iv) Under the sub- heading ―VIII. Loans‖, in sub item (i), sub-item (a) shall be omitted;
(v) For sub-heading ―IX‖ and the entries relating thereto, the following shall be substituted, namely:-
―IX. Other financial assets
(i) Security Deposits
(ii) Bank deposits with more than 12 months maturity
(iii) others(to be specified)‖ ;
(b) under the heading ―B. Current Assets‖,-
(i) in the sub-heading ―III. Trade Receivables‖, after item (iii) and the entries relating thereto, 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 – which have
significant 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 sub-heading ―V. Loans‖, in item (i), sub-item (a) shall be omitted;
(iii) after the sub-heading ―V. Loans‖ and the entries relating 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:
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 53
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 Liabilities‖, in sub-heading ―I. Borrowings‖, in item (i), sub- item (f) shall be
omitted;
(e) under the heading ―F. Current Liabilities‖,-
(i) in sub- heading ―I. Borrowings‖, after item (iv), the following item shall be inserted, namely:-
―(v) Current maturities of Long term borrowings shall be disclosed separately‖.;
(ii) under the sub- heading ―II. Other Financial Liabilities‖, items (a) and (b) shall be omitted;
(f) after the heading ―FA. Trade Payables‖, and the entries relating thereto, the following shall be inserted, namely:-
―FB. For trade payables due for payment, following ageing schedule shall be given:
Trade Payables aging schedule
(Amount in Rs.)
Particulars Outstanding for following periods from due date of
payment#
Less than 1
year
1-2 years 2-3 years More than 3
years
Total
(i) MSME
(ii) Others
(iii) Disputed dues – MSME
(iv)Disputed dues – Others
# 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‖;
(g) after heading ―J‖ and the entries relating thereto, the following shall be inserted, namely:-
―JA. 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.‖;
(h) heading K and the entries relating thereto, shall be omitted;
(i) after heading K and the entries relating thereto, the following shall be inserted, namely:-
“L. 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 properties (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.
54 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
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 on the valuation by a registered valuer as
defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
(iii) Where the Company has revalued its Property, Plant and Equipment (including Right-of-Use Assets), the
company shall disclose as to whether the revaluation is based on the valuation by a registered valuer as
defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
(iv) Where the company has revalued its intangible assets, the company shall disclose as to whether the
revaluation is based on the valuation by a registered valuer as defined under rule 2 of Companies
(Registered Valuers and Valuation) Rules, 2017.
(v) The following disclosures shall be made where Loans or Advances in the nature of loans are granted to
promoters, directors, KMPs and the related parties (as defined under Companies Act, 2013), either
severally or jointly with any other person, that are:
(a) repayable on demand; or
(b) without specifying any terms or period of repayment,
Type of Borrower Amount of loan or advance in the nature
of loan outstanding
Percentage to the total
Loans and Advances
in the nature of loans
Promoter
Directors
KMPs
Related Parties
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 55
(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
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
* 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, the following Intangible assets under development completion schedule shall be given**:
56 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(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
Project 1
Project 2
**Details of projects where activity has been suspended shall be given separately.
(viii) Details of Benami Property held
Where any proceeding has been initiated or pending against the company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, the company
shall disclose the following:-
(a) Details of such property,
(b) Amount thereof,
(c) Details of Beneficiaries,
(d) If property is in the books, then reference to the item in the Balance Sheet,
(e) If property is not in the books, then the fact shall be stated with reasons,
(f) Where there are proceedings against the company under this law as an abetter of the transaction or as
the transferor then the details shall be provided,
(g) Nature of proceedings, 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:
(a) Date of declaration as willful 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 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:-
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 57
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)
(xii) Registration of charges or satisfaction with Registrar of Companies (ROC)
Where any charges or satisfaction yet to be registered with ROC beyond the statutory period, details and
reasons thereof shall be disclosed.
(xiii) 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 the Companies (Restriction on number of Layers) Rules, 2017, the name and CIN of the
companies beyond the specified layers and the relationship or extent of holding of the company in such
downstream companies shall be disclosed.
(xiv) Following Ratios to be disclosed:-
(a) Current Ratio,
(b) Debt-Equity Ratio,
(c) Debt Service Coverage Ratio,
(d) Return on Equity Ratio,
(e) Inventory turnover ratio,
(f) Trade Receivables turnover ratio,
(g) Trade payables turnover ratio,
(h) Net capital turnover ratio,
(i) Net profit ratio,
(j) Return on Capital employed,
(k) Return on investment.
The company shall explain the items included in numerator and denominator for computing the above ratios.
Further explanation shall be provided for any change in the ratio by more than 25% as compared to the
preceding year.
(xv) Compliance with approved Scheme(s) of Arrangements
Where the Scheme of Arrangements has been approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013, the company shall disclose that the effect of such Scheme of
Arrangements have been accounted for in the books of account of the Company ‗in accordance with the
Scheme‘ and ‗in accordance with accounting standards‘ and any deviation in this regard shall be explained.
58 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(xvi) Utilisation of Borrowed funds and share premium:
(A) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or
any other sources or kind of funds) to any other person(s) or entity(ies), 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 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 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).
(iii) in Part II- Statement of Profit and Loss, under the heading ―General Instructions for Preparation of Statement of
Profit and Loss‖,-
(A) in paragraph 3, in item (b), the word ―and‖ shall be omitted and after item (b), the following shall be
inserted, namely:-
―(ba) Grants or donations received (relevant in case of section 8 companies only); and‖
(B) in paragraph ―7. Additional Information‖, after item (k) and the entries relating thereto, the following items
shall be inserted, namely:-
―(l) Undisclosed income
The Company shall give details of any transaction not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961
(such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless there is
immunity for disclosure under any scheme and shall also state whether the previously unrecorded income and
related assets have been properly recorded in the books of account during the year.
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 59
(m) Corporate Social Responsibility (CSR)
Where the company covered under section 135 of the Companies Act, the following shall be disclosed with
regard to CSR activities:-
(i) amount required to be spent by the company during the year,
(ii) amount of expenditure incurred,
(iii) shortfall at the end of the year,
(iv) total of previous years shortfall,
(v) reason for shortfall,
(vi) nature of CSR activities,
(vii) details of related party transactions, e.g.,contribution to a trust controlled by the company in relation
to CSR expenditure 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.‖
60 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(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 balance at the
beginning of the current
reporting period
Changes in equity share
capital during the current
year
Balance at the end of the
current reporting period
(2) Previous reporting period
Balance at the beginning
of the previous reporting
period
Changes in Equity Share
Capital due to prior
period errors
Restated balance at the
beginning of the previous
reporting period
Changes in equity share
capital during the
previous year
Balance at the end of the
previous reporting period
B. Other Equity
(1) Current reporting period
Share
application
money
pending
allotment
Equity
component
of
compound
financial
instruments
Reserves and Surplus
Money
received
against
share
warrants
Capital Total
Reserve
Securities
Premium
Other
Reserves
(specify
nature)
Retained
Earnings
Debt
instruments
through Other
Comprehensive
Income
Equity
Instruments
through Other
Comprehensive
Income
Effective
portion of
Cash Flow
Hedges
Revaluation
Surplus
Exchange
differences
on
translating
the financial
statements
of a foreign
Other items of
Other
Comprehensive
Income
(specify
nature)
[भाग
I
I
—खण्‍ड 3(i
)
] भारत‍का‍राजपत्र‍:‍असाधारण 61
operation
Balance at
the beginning
of the current
reporting
period
Changes in
accounting
policy/prior
period errors
Restated
balance at
the
beginning
of the
current
reporting
period
Total
Comprehensi
ve Income
for the
current year
Dividends
Transfer to
retained
earnings
Any other
change (to be
specified)
62 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
Balance at
the end of
the current
reporting
period
(2) Previous reporting period
Share
application
money
pending
allotment
Equity
component
of
compound
financial
instruments
Reserves and Surplus
Money
received
against
share
warrants
Capital Total
Reserve
Securities
Premium
Other
Reserves
(specify
nature)
Retained
Earnings
Debt
instruments
through Other
Comprehensive
Income
Equity
Instruments
through Other
Comprehensive
Income
Effective
portion of
Cash Flow
Hedges
Revaluation
Surplus
Exchange
differences
on
translating
the financial
statements
of a foreign
operation
Other items of
Other
Comprehensive
Income
(specify
nature)
Balance at the
beginning of
the previous
reporting
period
Changes in
accounting
policy/prior
period errors
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 63
Restated
balance at
the
beginning
of the
previous
reporting
period
Total
Comprehensive
Income for the
previous year
Dividends
Transfer to
retained
earnings
Any other
change (to be
specified)
Balance at the
end of the
previous
reporting
period
Note : Remeasurment of defined benefit plans and fair value changes relating to own credit risk of financial liabilities designated at fair value through profit or loss shall be
recognised as a part of retained earnings with separate disclosure of such items alongwith the relevant amounts in the Notes or shall be shown as a separate column under
Reserves and Surplus ‖
64 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(B) in the ―Notes‖, under the heading ―General Instructions For Preparation of Balance Sheet‖,-
(I) under the heading ―(C) Receivables‖, after item (iii) the following shall be inserted, namely:-
―(iv) For trade receivables outstanding, following ageing schedule shall be given:
Trade Receivables aging 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
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 separately.‖;
(III) under the heading ―(J) Other Intangible Assets‖, for item (ii)), the following item shall be substituted,
namely:-
―(ii) 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 intangible assets) and other adjustments and the related amortization and impairment losses or reversals
shall be disclosed separately.‖
(IV) after heading (K) and the entries relating thereto, the following shall be inserted, namely:-
―(KA) For trade payables due for payment, following ageing schedule shall be given:
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 65
Trade Payables aging schedule
(Amount in Rs.)
Particulars Outstanding for following periods from due date of
payment#
Less than 1
year
1-2 years 2-3 years More than 3
years
Total
(i) MSME
(ii) Others
(iii) Disputed dues – MSME
(iv)Disputed dues – Others
# 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‖;
(V) under the heading ―(S) Equity Share Capital‖, after item (m), the following shall be inserted, namely:-
―(n) 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. ‖
(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
employee of
promoter/director
Property held
since which
date
Reason for
not being held
in the name of
the
company**
PPE
–
Investment
property
–
Land
Building
Land
Building
– – – – **also
indicate if in
dispute
66 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
Non-current asset
held for sale
–
others
Land
Building
#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 on the valuation by a registered valuer as defined
under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
(iii) Where the Company has revalued its Property, Plant and Equipment (including Right-of-Use Assets),
the company shall disclose as to whether the revaluation is based on valuation by a Registered Valuer as
defined under rule 2 of Companies (Registered Valuers and Valuation) Rules, 2017.
(iv) Where the Company has revalued its Intangible assets, the company shall disclose as to whether the
revaluation is based on valuation by a Registered Valuer as defined under rule 2 of Companies (Registered
Valuers and Valuation) Rules, 2017.
(v) Following disclosures shall be made where loans or advances in the nature of loans are granted to
promoters, directors, KMPs and the related parties (as defined under the Companies Act, 2013), either
severally or jointly with any other person that are:
(a) repayable on demand or
(b) without specifying any terms or period of repayment
Type of Borrower Amount of loan or advance in the
nature of loan outstanding
Percentage to the total
Loans and Advances
in the nature of loans
Promoter
Directors
KMPs
Related parties
(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**:
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 67
(Amount in Rs.)
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
* 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
Project 1
Project 2
**Details of projects where activity has been suspended shall be given separately.
(viii) Details of Benami Property held
Where any proceedings have been initiated or pending against the company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made
thereunder, the company shall disclose the following:-
(a) Details of such property,
(b) Amount thereof,
(c) Details of Beneficiaries,
(d) If property is in the books, then reference to the item in the Balance Sheet,
(e) If property is not in the books, then the fact shall be stated with reasons,
68 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(f) Where there are proceedings against the company under this law as an abetter of the transaction
or as the transferor then the details shall be provided.
(g) Nature of proceedings, 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 section 248 of 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)
(xii)Registration of charges or satisfaction with Registrar of Companies (ROC)
Where any charges or satisfaction yet to be registered with ROC beyond the statutory period, details and
reasons thereof shall be disclosed.
(xiii) 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 layers and the relationship/extent of holding of the company in such
downstream companies shall be disclosed.
(xiv) Following Ratios shall be disclosed.
(a) Capital to risk-weighted assets ratio (CRAR)
(b) Tier I CRAR
(c) Tier II CRAR
(d) Liquidity Coverage Ratio
[भाग II—खण्‍ड 3(i)] भारत‍का‍राजपत्र‍:‍असाधारण 69
(xv) Compliance with approved Scheme(s) of Arrangements
Where any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230
to 237 of the Companies Act, 2013, the Company shall disclose that the effect of such Scheme of
Arrangements have been accounted for in the books of account of the Company ‗in accordance with the
Scheme‘ and ‗in accordance with accounting standards‘. Any deviation in this regard shall be explained.
(xvi) Utilisation of Borrowed funds and share premium:
(A) Where company has advanced or loaned or invested funds (either borrowed funds or share premium or any
other sources or kind of funds) to any other person(s) or entity(ies), 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 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 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).;
(ii) in Part II- Statement of Profit and Loss, under the heading ―General Instructions for Preparation of Statement of
Profit and Loss‖, in paragraph ―11. Additional Information‖, after item ―iv.”, and the entries relating thereto, the
following items shall be inserted, namely:-
“v. undisclosed income
The Company shall give details of any transactions not recorded in the books of accounts that has been
surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961
(such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless there is
immunity for disclosure under any scheme. Also, state whether the previously unrecorded income and related
assets have been properly recorded in the books of account during the year.
vi. Corporate Social Responsibility (CSR)
Where the company (NBFC) covered under section 135 of the Companies Act, the following shall be
disclosed with regard to CSR activities:-
(a) amount required to be spent by the company during the year,
(b) amount of expenditure incurred,
70 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(c) shortfall at the end of the year,
(d) total of previous years shortfall,
(e) reason for shortfall,
(f) nature of CSR activities,
(g) details of related party transactions, e.g., contribution to a trust controlled by the company in relation
to CSR expenditure as per relevant Accounting Standard,
(h) 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.
vii. 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:-
(a) profit 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
or virtual currency.‖

[F.No. 17/62/2015-CL-V Vol-I]
K. V. R. MURTY, Jt. Secy