Executive Summary:
This notification, dated March 30, 2017, announces amendments to Schedule III of the Companies Act, 2013. These amendments, effective from the date of publication, mandate companies to disclose details of Specified Bank Notes (SBN) held and transacted during the period from November 8, 2016, to December 30, 2016. The disclosure is required in the balance sheet.
Key Points / Main Content:
Amendments to Schedule III of the Companies Act, 2013
* The Central Government has made further amendments to Schedule III of the Companies Act, 2013.
* The amendments are effective from the date of the notification's publication.
Disclosure of Specified Bank Notes (SBN)
* Companies must disclose details of SBNs held and transacted between November 8, 2016, and December 30, 2016.
* This disclosure must be made in the Balance Sheet under "General instructions for preparation".
* The disclosure should include:
* Closing cash in hand as on November 8, 2016
* Permitted receipts
* Permitted payments
* Amount deposited in Banks
* Closing cash in hand as on December 30, 2016
* "Specified Bank Notes" has the same meaning as defined in notification S.O. 3407E, dated November 8, 2016, issued by the Department of Economic Affairs, Ministry of Finance.
Applicability
* The SBN disclosure requirement applies to both Division I and Division II of Schedule III.
Impact Analysis:
Companies:
* Impact: Companies are required to disclose details of Specified Bank Notes (SBN) held and transacted during the specified period in their balance sheets.
* Action Required: Companies must collect and report the required SBN transaction data for the period November 8, 2016, to December 30, 2016, and include it in their financial statements as per the prescribed format.
Central Government:
* Impact: Responsible for enacting and enforcing the amended regulations.
* Action Required: Ensure the notification is published in the Official Gazette and monitor compliance by companies.
Key Entities Referenced
Companies Act, 2013: A law that governs company incorporation, regulation, and winding up in India. It is mentioned as the principal Act being amended.
Schedule III: A schedule within the Companies Act, 2013, related to financial statement presentation. This notification provides amendments to it.
Ministry of Corporate Affairs: The government ministry responsible for administering the Companies Act, 2013. The notification is issued by this ministry.
New Delhi: The location from which the notification was issued. New Delhi is the capital of India.
Central Government: The Union Government of India, which is exercising powers under the Companies Act, 2013.
Specified Bank Notes (SBN): Refers to particular bank notes that were subject to a demonetization policy, requiring specific disclosures by companies.
Department of Economic Affairs: A department within the Ministry of Finance involved in the notification regarding Specified Bank Notes.
Amardeep S. Bhatia: The Joint Secretary who signed the notification.
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No. 244] NEW DELHI, THURSDAY, MARCH 30, 2017/CHAITRA 9, 1939
कारपोरेट काय (cid:6981)म(cid:7074)ं ालय
अिधसचू ना
नई (cid:7408)द(cid:7016)ली, 30 माच(cid:6981), 2017
सा.का.िन. 308(अ).—के(cid:7008)(cid:7076)ीय सरकार, कंपनी अिधिनयम, 2013 (2013 का 18) क(cid:7409) धारा 467 क(cid:7409) उप-धारा (1)
(cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, उ(cid:7334) अिधिनयम क(cid:7409) अनुसूची III म(cid:7286), शासक(cid:7409)य राजप(cid:7074) म(cid:7286) इस अिधसूचना के (cid:7079)काशन
क(cid:7409) तारीख के (cid:7079)भाव से िन(cid:7388)िलिखत और संशोधन करती ह,ै अथा(cid:6981)त् :–
2. कंपनी अिधिनयम, 2013 (िजसे इसम(cid:7286) इसके बाद मलू अिधिनयम कहा गया ह)ै म,(cid:7286) अनुसूची III, (cid:7079)भाग I म(cid:7286),
भाग I म(cid:7286), परै ा 6 म(cid:7286), खंड ‘ब’ के प(cid:7391)ात,् “तलु नप(cid:7074) तैयार करने के िलए साधारण अनुदशे ” शीष(cid:6981)क के अधीन िन(cid:7388)िलिखत खडं
अंतः(cid:7021)थािपत (cid:7408)कया जाएगा, अथा(cid:6981)त् :–
“भ. (cid:7079)(cid:7004)येक कंपनी तारीख 08 नवबं र, 2016 से 30 (cid:7408)दसंबर, 2016 तक क(cid:7409) अविध के दौरान धा(cid:7407)रत और
सं(cid:7390)वहार (cid:7408)कए गए िविन(cid:7416)द(cid:7397) ब(cid:7289)क नोट(cid:7298) (एसबीएन) के (cid:7011)यौरे का नीचे सारणी म (cid:7286)यथाउपबंिधत (cid:7079)कटीकरण करेगी :-
एसबीएन अ(cid:7008)य अिभधान नोट कुल योग
तारीख 18.11.2016 को ह(cid:7021)तगत अंितम नकदी
(+) अनु(cid:6980)ा(cid:7079)ा(cid:7385) (cid:7079)ाि(cid:7385)या ं
(-) अनु(cid:6980)ा(cid:7079)ा(cid:7385) संदाय
(-) ब(cid:7289)क(cid:7298) म(cid:7286) जमा क(cid:7409) गई रकम
तारीख 30.12.2016 को ह(cid:7021)तगत अंितम नकदी
1801 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(cid:7021)प(cid:7397)ीकरण: इस खंड के (cid:7079)योजन(cid:7298) के िलए, ‘िविन(cid:7416)द(cid:7397) ब(cid:7289)क नोट’ पद का वही अथ (cid:6981) होगा जो भारत सरकार के िव(cid:7275)
मं(cid:7074)ालय म(cid:7286), आ(cid:7414)थक काय(cid:6981) िवभाग क(cid:7409) अिधसूचना सं(cid:6990)या का.आ. 3407(अ) तारीख 8 नवंबर, 2016 म (cid:7286) उपबंिधत
(cid:7408)कया गया ह।ै ”
3. मलू अिधिनयम म (cid:7286) अनुसूची III, (cid:7079)भाग II म(cid:7286), भाग I म,(cid:7286) पैरा 6 म,(cid:7286) खंड ‘ञ’ के बाद “तुलन-प(cid:7074) तैयार करने के िलए
साधारण अनुदेश” शीष(cid:6981)क के अधीन िन(cid:7388)िलिखत खडं अंतः(cid:7021)थािपत (cid:7408)कया जाएगा, अथा(cid:6981)त् :–
“ट. (cid:7079)(cid:7004)येक कंपनी तारीख 08/11/2016 से 30/12/2016 तक क(cid:7409) अविध के दौरान धा(cid:7407)रत और सं(cid:7390)वहार (cid:7408)कए गए
िविन(cid:7416)द(cid:7397) ब(cid:7289)क नोट(cid:7298) (एसबीएन) के (cid:7011)यौरे का नीच ेसारणी म (cid:7286)यथा उपबंिधत (cid:7079)कटीकरण करेगी :-
एसबीएन अ(cid:7008)य अिभधान नोट कुल योग
तारीख 18.11.2016 को ह(cid:7021)तगत अंितम नकदी
(+) अनु(cid:6980)ा(cid:7079)ा(cid:7385) (cid:7079)ाि(cid:7385)या ं
(-) अनु(cid:6980)ा(cid:7079)ा(cid:7385) संदाय
(-) ब(cid:7289)क(cid:7298) म(cid:7286) जमा क(cid:7409) गई रकम
तारीख 30.12.2016 को ह(cid:7021)तगत अंितम नकदी
(cid:7021)प(cid:7397)ीकरण: इस खंड के (cid:7079)योजन(cid:7298) के िलए, ‘िविन(cid:7416)द(cid:7397) ब(cid:7289)क नोट’ पद का वही अथ(cid:6981) होगा जो भारत सरकार के िव(cid:7275) मं(cid:7074)ालय म(cid:7286),
आ(cid:7414)थक काय(cid:6981) िवभाग क(cid:7409) अिधसचू ना सं(cid:6990)या का.आ. 3407(अ), तारीख 8 नवंबर, 2016 म (cid:7286)उपबंिधत (cid:7408)कया गया ह।ै ”
[फा. सं. 17/62/2015-सीएल-V (भाग I)]
अमरदीप (cid:7410)सह भा(cid:7407)टया, संयु(cid:7334) सिचव
(cid:7407)ट(cid:7009)पण : कंपनी अिधिनयम, 2013 क(cid:7409) अनुसूची III, तारीख 26.03.2014 क(cid:7409) अिधसूचना का.आ. 902(अ) (cid:7367)ारा तारीख
1 अ(cid:7079)ैल, 2014 को (cid:7079)वृ(cid:7275) (cid:7263)ई थी, त(cid:7004)प(cid:7391)ात ् तारीख 04.09.2015 क(cid:7409) सा.का.िन. सं(cid:6990)यांक 679(अ) और तारीख
06.04.2016 क(cid:7409) सा.का.िन. स(cid:6990)ं यांक 404(अ) (cid:7367)ारा संशोधन (cid:7408)कए गए।
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 30th March, 2017
G.S.R. 308(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
to Schedule III of the said Act with effect from the date of publication of this notification in the Official
Gazette, namely:-
2. In the Companies Act, 2013 (hereinafter referred to as the principal Act), in Schedule III, in
Division I, in Part I under the heading “General instructions for preparation of Balance Sheet” in paragraph 6,
after clause ‘W’, the following clause shall be inserted namely:-
“X. Every company shall disclose the details of Specified Bank Notes (SBN) held and transacted
during the period from 8th November, 2016 to 30th December, 2016 as provided in the Table below:-
SBNs Other denomination Total
notes
Closing cash in hand as on 08.11.2016
(+) Permitted receipts¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
(-) Permitted payments
(-) Amount deposited in Banks
Closing cash in hand as on 30.12.2016
Explanation : For the purposes of this clause, the term ‘Specified Bank Notes’ shall have the same meaning
provided in the notification of the Government of India, in the Ministry of Finance, Department of Economic
Affairs number S.O. 3407(E), dated the 8th November, 2016.”.
3. In the principal Act, in Schedule III, in Division II, in Part I under the heading “General
instructions for preparation of Balance Sheet” in paragraph 6, after clause ‘J’, the following clause shall be
inserted namely:-
“K. Every company shall disclose the details of Specified Bank Notes (SBN) held and transacted
during the period 08/11/2016 to 30/12/2016 as provided in the Table below:-
SBNs Other denomination notes Total
Closing cash in hand as on 08.11.2016
(+) Permitted receipts
(-) Permitted payments
(-) Amount deposited in Banks
Closing cash in hand as on 30.12.2016
Explanation : For the purposes of this clause, the term ‘Specified Bank Notes’ shall have the same meaning
provided in the notification of the Government of India, in the Ministry of Finance, Department of Economic
Affairs number S.O. 3407(E), dated the 8th November, 2016.”.
[F. No. 17/62/2015-CL-V (Vol.I)]
AMARDEEP S. BHATIA, Jt. Secy.
Note : Schedule III of the Companies Act, 2013 came into force with effect from the 1st April, 2014 (cid:101)(cid:100)(cid:118)(cid:105)
Notification S.O. 902(E), dated 26.3.2014, subsequently amended (cid:118)(cid:105)(cid:100)(cid:101) G.S.R. 679(E), dated
04.09.2015 and (cid:101)(cid:118)(cid:105)(cid:100) G.S.R. 404(E), dated 06.04.2016.
(cid:32)
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and Published by the Controller of Publications, Delhi-110054.