The gazette notification introduces the Central Warehousing Corporation (Amendment) Rules, 2023. These rules amend the Central Warehousing Corporation Rules, 1963, specifically concerning the annual statement of accounts and balance sheet preparation.
The amendment modifies the requirements for the financial statements of the Central Warehousing Corporation to align with Section 129(1) of the Companies Act, 2013.
The amendment also clarifies that the requirements for consolidated financial statements and notified accounting standards under the Companies Act 2013 will not be applicable to the Central Warehousing Corporation.
Key Changes
Rule 45 of the Central Warehousing Corporation Rules, 1963 is replaced with a new rule specifying the annual statement of accounts and balance sheet requirements.
The Board is required to balance the financial statements of the Corporation on the last day of March each year.
Financial statements must be prepared in the manner specified in Section 129(1) of the Companies Act, 2013.
Consolidated financial statement requirements and notified accounting standards under the Companies Act, 2013 are not applicable.
The rules come into effect on or after April 1, 2023.
Impact Analysis
Central Warehousing Corporation
Action Item: Review current financial reporting processes and update them to align with the new requirements, ensuring compliance by the end of March each year.
Shareholders/Stakeholders of CWC
Action Item: Communicate the changes in financial reporting to stakeholders, explaining the rationale and impact of the amendments.
Auditors
Action Item: Update audit procedures to reflect the amended rules and ensure compliance with the specified reporting standards.
Key Entities Referenced
Central Government: The entity issuing the notification and amending the Central Warehousing Corporation Rules, 1963, under the powers conferred by the Warehousing Corporations Act, 1962.
Central Warehousing Corporation: The organization whose rules are being amended and which is directly affected by the changes in financial reporting requirements.
Warehousing Corporations Act, 1962: The Act that empowers the Central Government to make rules for the Central Warehousing Corporation.
Central Warehousing Corporation Rules, 1963: The set of rules governing the Central Warehousing Corporation, which are being amended by this notification.
Companies Act, 2013: The Act that governs companies in India, with Section 129(1) specifying the manner in which financial statements should be prepared. Certain provisions of this act regarding consolidated financial statements and accounting standards are made not applicable to CWC.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-17032023-244447
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CG-DL-E-17032023-244447
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (i)
PART II—Section 3—Sub-section (i)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 157] िई दिल्ली, िुक्रर्ार, माचव 17, 2023/फाल्ग िु 26, 1944
No. 157] NEW DELHI, FRIDAY, MARCH 17, 2023/PHALGUNA 26, 1944
उपभोक्ता मामल,े खाद्य और सार्िव जिक जर्तरण मत्रं ालय
(खाद्य और सार्विजिक जर्तरण जर्भाग)
अजधसचू िा
िई दिल्ली, 17 माच,व 2023
सा.का.जि. 196(अ).— भाण्डागारण जिगम अजधजियम, 1962 (1962 का 58) की धारा 41 की उपधारा (1)
द्वारा प्रित्त िजक्तयों का प्रयोग करते हुए, केंद्रीय सरकार केंद्रीय भाण्डागारण जिगम जियम, 1963 म ें और संिोधि करि े
के जलए जिम्नजलजखत जियम बिाती ह,ै अर्ावत :-
1. (1) इि जियमों का संजिप्त िाम केंद्रीय भाण्डागारण जिगम (संिोधि) जियम, 2023 ह ै।
(2) ये तारीख 01 अप्रैल, 2023 को या इसके पश्चात प्रर्त्तृ होंगे।
2. केंद्रीय भाण्डागारण जिगम जियम, 1963 म ें जियम 45 के स्ट्र्ाि पर जिम्नजलजखत जियम रखा िाएगा, अर्ावत:-
“45 लखे ाओं और तलु ि पत्र का र्ार्षकव जर्र्रण
(1) बोडव प्रत्येक र्ष व के माच व माह के अंजतम दिि को जिगम के जर्त्तीय जर्र्रण को सतं ुजलत कराएगा और इस
प्रकार के जर्त्तीय जर्र्रण कंपिी अजधजियम, 2013 (2013 का 18) की धारा 129 की उपधारा (1) म ें जर्जिर्िष्टव रीजत म ें
तैयार दकए िाएगं े।
1757 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(2) कंपिी अजधजियम, 2013 के उपबंधों के अधीि यर्ा अपेजित समेदकत जर्त्तीय जर्र्रण की अपेिा और
इसके अधीि अजधसूजचत लेखा मािक लाग ू िहीं होंगे।’’
[फा. स.ं 9-45/2021-एसिी-1]
सुबोध कुमार ससंह, अपर सजचर्
िोट: मूल जियम अजधसूचिा संखयांक सा. का. जि. 635 तारीख 13 अप्रलै 1963 द्वारा भारत के रािपत्र म ें प्रकाजित
दकए गए र् ेऔर तत्पश्चात जिम्नजलजखत अजधसूचिा संखयांकों के माध्यम स े संिोजधत दकए गए:-
1. सा. का. जि. संखया 295 तारीख 27.02.1964
2. सा. का. जि. संखया 1266 तारीख 31.08.1964
3. सा. का. जि. संखया 1481 तारीख 29.09.1964
4. सा. का. जि. संखया 649 तारीख 15.04.1965
5. सा. का. जि. संखया 56 तारीख 02.01.1967
6. सा. का. जि. संखया 612 तारीख 18.03.1968
7. सा. का. जि. संखया 1252 तारीख 17.08.1970
8. सा. का. जि. संखया 1297 तारीख 15.07.1970
9. सा. का. जि. संखया 1371 तारीख 07.12.1973
10. सा. का. जि. संखया 683 तारीख 21.05.1975
11. सा. का. जि. संखया 143 तारीख 12.01.1976
12. सा. का. जि. संखया 811(अ) तारीख 22.09.1976
13. सा. का. जि. संखया 1399 तारीख 09.11.1978
14. सा. का. जि. संखया 58 तारीख 28.12.1979
15. सा. का. जि. संखया 289(अ) तारीख 10.04.1981
16. सा. का. जि. संखया 663(अ) तारीख 05.11.1982
17. सा. का. जि. संखया 19(अ) तारीख 19.01.1986
18. सा. का. जि. संखया 498(अ) तारीख 14.05.1987
19. सा. का. जि. संखया 868(अ) दििांक 23.10.1987
20. सा. का. जि. संखया 435(अ) तारीख 05.04.1990
21. सा. का. जि. संखया 644(अ) तारीख 20.09.1990
22. सा. का. जि. संखया 295(अ) तारीख 22.04.2002
23. सा. का. जि. संखया 704(अ) तारीख 15.11.2006
24. सा. का. जि. संखया 732(अ) तारीख 30.11.2006
25. सा. का. जि. संखया 432(अ) तारीख 12.06.2007[भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3
MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION
(Department of Food and Public Distribution)
NOTIFICATION
New Delhi, the 17th March, 2023
G.S.R.196(E).—In exercise of powers conferred by sub-section (1) of section 41 of the Warehousing
Corporations Act, 1962 (58 of 1962), the Central Government hereby makes the following rules further to amend the
Central Warehousing Corporation Rules, 1963, namely:-
1. (1) These rules may be called the Central Warehousing Corporation (Amendment) Rules, 2023.
(2) They shall come in to force on or after 1st April 2023.
2. In the Central Warehousing Corporation Rules, 1963, for rule 45, the following rule shall be substituted, namely:-
“45. Annual Statement of Accounts and Balance Sheet
(1) The Board shall cause the financial statements of the Corporation to be balanced on the last day of the
month of March in each year and such financial statements shall be prepared in the manner specified in sub-section (1)
of section 129 of the Companies Act, 2013 (18 of 2013).
(2) The requirements of consolidated financial statements as required under the provisions of Companies Act
2013 and Accounting Standards notified thereunder shall not be applicable.”
[F. No. 9-45/2021-SG-I]
SUBODH KUMAR SINGH, Addl. Secy.
Note: The principal rules were published in the Gazette of India vide notification number G.S.R.635 dated 13th April
1963 and subsequently amended vide following notification numbers:-
1. No.G.S.R. No. 295 dated 27-02-1964
2. No.G.S.R. No. 1266 dated 31-08-1964
3. No.G.S.R. No. 1481 dated 29-09-1964
4. No.G.S.R. No. 649 dated 15-04-1965
5. No.G.S.R. No. 56 dated 02-01-1967
6. No.G.S.R. No. 612 dated 18-03-1968
7. No.G.S.R. No. 1252 dated 17-08-1970
8. No.G.S.R. No. 1297 dated 15-07-1970
9. No.G.S.R. No. 1371 dated 07-12-1973
10. No.G.S.R. No. 683 dated 21-05-1975
11. No.G.S.R. No. 143 dated 12-01-1976
12. No.G.S.R. No. 811(E) dated 22-09-1976
13. No.G.S.R. No. 1399 dated 09-11-1978
14. No.G.S.R. No. 58 dated 28-12-1979
15. No.G.S.R. No. 289(E) dated 10-04-1981
16. No.G.S.R. No. 663(E) dated 05-11-1982
17. No.G.S.R. No. 19(E) dated 19-01-1986
18. No.G.S.R. No. 498(E) dated 14-05-1987
19. No.G.S.R. No. 868(E) dated 23-10-1987
20. No.G.S.R. No. 435(E) dated 05-04-1990
21. No.G.S.R. No. 644(E) dated 20-09-1990
22. No.G.S.R. No. 295(E)dated 22-04-2002
23. No.G.S.R. No. 704(E) dated 15-11-2006
24. No.G.S.R. No. 732(E) dated 30-11-2006
25. No.G.S.R. No. 432(E) dated 12-06-2007
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and Published by the Controller of Publications, Delhi-110054.