LLP Form 8 Attachment (Declaration under LLP Form 8)

Form 8 - LLP (Statement of Account & Solvency)

Declaration: (Nil Value)

………………………… LLP

LLPIN:

Address:

Email Id:

Contact Number:

DISCLOSURE UNDER MICRO, SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

 

We the Designated Partner of ……… …………  LLP, (LLPIN – ……….), do hereby declare that:

                            

1.    The Principal amount and the interest due thereon; remaining unpaid to any supplier as at the end of accounting year; NIL

2.    The amount of interest paid by the buyer in terms of section 18, along with the amounts of the payment made to the supplier beyond the appointed day during accounting year; NIL

3.    The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act; NIL

4.    The amount of interest accrued and remaining unpaid at the end of accounting year; NIL and

5.    The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprise, for the purpose of disallowance as a deductible expenditure under section 23 is NIL

          Designated Partner / Designated Partners

                                                                                                

Date: …………..                                                   Name                                       Name

Place:      …                                                       DPIN NO: ……….                       DPIN NO: ……………

(Prepared by Lalit Rajput, Practicing Company Secretary, available at +91 8802581290 (W) and lalitrajput537@gmail.com)

Draft documents for Appointment of Auditor (Statutory Auditor)

Appointment of Auditor's / Auditor's Firm

Provisions related to appointment of Auditors

Section 139(6)

Notwithstanding anything contained in section 139 (1), the first auditor of a company, other than a Government company, shall be appointed by the Board of Directors within thirty days from the date of registration of the company and in the case of failure of the Board to appoint such auditor, it shall inform the members of the company, who shall within ninety days at an extraordinary general meeting appoint such auditor and such auditor shall hold office till the conclusion of the first annual general meeting.

Draft documents for Appointment of Auditor u/s 139:

 

1. Board Resolution

(on the Letterhead of the Company)

  

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF BOARD OF DIRECTORS OF FINANCIAL YEAR 2019-20 OF .................................... PRIVATE LIMITED HELD ON (Day) ...... (Date)........... (TIME) ..................(Venue)

The Chairman of the meeting informed that the first Auditors / Subsequent Auditor of the Company are to be appointed in Board Meeting of the company held on …………….. He informed that he had got consent of …………………, Chartered Accountants (FRN:……..), for their appointment as the first Auditors/ of the Company. The Board considered and passed the following resolution unanimously:

RESOLVED THAT pursuant to the provisions of section 139 of the Companies Act, 2013, ………………………., Chartered Accountants having Firm registration number (FRN): ……………… from whom certificate pursuant to section 139 of the Companies Act 2013 has been received, be and are hereby appointed as the first auditors of the company to hold office until the conclusion of the ensuing annual general meeting of the company at a remuneration to be determined by the Board of Directors of the Company.

FOR ………………………. PRIVATE LIMITED

(Name of the Director & Sign)

Director

DIN:

Address:       

2. Letter of Consent for appointment as Auditor given by the Auditor’s Firm

(on the Letterhead of the CA Firm)

Date: ………………..

To,

The Board of Directors

…………………….  PRIVATE LIMITED

Regd. Address of the Company.......

Sub: - Letter of Consent for appointment as Auditor of

             “………………………… PRIVATE LIMITED “

Dear Sir,

This is with reference to your letter dated ………………….. seeking our consent for appointment as Auditor of ……………………………….. PRIVATE LIMITED (“the Company”). We hereby give our consent to our appointment as Auditor of your company pursuant to the provisions of Section-139 of the Chapter X of the Companies Act, 2013.

Thanking you,

Yours sincerely,

For (Name of the CA Firm)

Chartered Accountants

(FRN: ……………………..)

…………………………….

Partner

M. No.:

Place:

3. Eligibility Criteria (Certificate given by CA firm)

(on the Letterhead of the CA firm)

Certificate

[Pursuant to the provisions of Section 139 of the Chapter X of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014]

Date: ………………..

To,

The Board of Directors

…………………….  PRIVATE LIMITED

Regd. Address of the Company.......

.

Sub: Letter for appointment of auditor under the Companies Act, 2013

Dear Sir,

In connection with appointment of our firm M/s …………………….  (“the firm”), Chartered Accountants as auditor of  your company …………………………. PRIVATE LIMITED in accordance with the provisions of the Companies Act, 2013 (the Act) and rules and regulations made there under, we are pleased to confirm that:

1.      That our firm is eligible for appointment and is not disqualified for appointment under section 141 of the Companies Act, 2013, the Chartered Accountant Act, 1949 and rules and regulations made there under;

2.      Our proposed appointment would be as per the terms provided under the Act;

3.      The proposed appointment is within the limits laid down by or under the authority of the Act;

4.      There are no proceedings pending against either of the partners or the firm with respect to professional matters of conduct.

5.      We satisfy other criteria as provided under Section 141 of the Act.

Thanking you,

Yours sincerely,

For (Name of the CA Firm)

Chartered Accountants

(FRN: ……………………..)

…………………………….

Partner

M. No.:

Place:

4. Appointment Letter of Auditor / Auditors Firm

(on the Letterhead of the Company)

Date: …………………………

To,

………… (name of the CA Firm)

CHARTERED ACCOUNTANTS

Address.:

Sir,

Sub: Appointment as Statutory Auditor

With reference to your consent letter and certificate under section 139 and 141 of the Companies Act, 2013, we are please to inform you that your firm has been appointment as the first statutory auditor of M/S ……………………………… PRIVATE LIMITED from the conclusion of this Board Meeting of the company held on ………………..  to hold office from the conclusion of this meeting until the conclusion of the ensuing Annual General Meeting of the Company.

The audit fee and other terms and conditions shall be decided by the board of directors on mutually agreed basis.

Kindly acknowledge the receipt of the same.

FOR ………………………. PRIVATE LIMITED

(Name of the Director & Sign)

Director

DIN:

Address:

Date: ……………….

Place: ………………..

(Prepared by Lalit Rajput, Practicing Company Secretary, available at +91 8802581290 (W) and lalitrajput537@gmail.com  )

Corporate Update ( #MCA #IBBI #Press news #GST) 20.09.2019 to 24.04.2019

Corporate Update  ( #MCA #IBBI #Press news #GST) 20.09.2019 to 24.04.2019

- Knowledge Sharing Initiative 

Ministry of Corporate Affairs (MCA – ROC)

1.       MCA 21 Portal unavailability

MCA21 system will be intermittently unavailable from Saturday 28th September 2019, 21:00pm to Sunday 29th September 2019, 7:00am IST due to maintenance activity. Stakeholders are requested to plan accordingly.

Source: http://www.mca.gov.in/MinistryV2/homepage.html

2.       MCA E-form BEN-2 revised

Form BEN-2 is likely to be revised on MCA21 Company Forms Download page w.e.f 25th September, 2019. Stakeholders are advised to check the latest version before filing.

Source: http://www.mca.gov.in/MinistryV2/homepage.html

Insolvency and Bankruptcy Board of India (IBBI) Update:

Valuation required under the provisions of the Companies Act, 2013 and the

Insolvency and Bankruptcy Code, 2016 vide circular no. No. IBBI/RVO/026/2019 dated 16.09.2019.

a.       Rule 10 of the Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) read with section 247 of the Companies Act, 2013 (Act) require that a registered valuer shall conduct valuations required under the Act.

b.      Circular No. IBBI/RV/019/2018 dated 17th October, 2018 of IBBI mandates that the valuations required under the Code or any of the regulations made thereunder shall be conducted by a registered valuer.

Read more at :

http://www.ibbi.gov.in/uploads/legalframwork/fc079317863706b25d7d688d3596c327.pdf

Press News:

1.     India must aim for attracting largest FDI share in the World, says Shri Ravi Shankar Prasad

Union Minister of Communications Shri Ravi Shankar Prasad today said that India is the second largest telecommunications market and is on the cusp of transformational change which will require additional FDI in the sector.

The Minister said FDI has seen a jump over the last few years and grossed USD 64 billion in FY19. Telecom sector attracted FDI worth USD 2.67 billion, and in electronics, computer software and hardware of USD 6.4 billion.

Link: https://pib.gov.in/PressReleseDetail.aspx?PRID=1585979

2.     CCI approves Combinations under Section 31(1) of the Competition Act, 2002

Competition Commission of India (CCI) approves the following Combinations under Section 31(1) of the Competition Act, 2002, today (dt. 23.09.2019):

(a)  Acquisition of Dixcy Textiles Pvt. Ltd. (DTPL) by Varenna Holdings Limited (Varenna)

The proposed transaction entails acquisition of equity shares in DTPL by Varenna. Varenna already holds 60% of the shares in DTPL.

Varenna is an indirect subsidiary of funds managed by Advent International Corporation.

DTPL is primarily engaged in manufacturing of hosiery products including men’s inner wear (including boy’s inner wear), women’s inner wear (including girl’s inner wear) and casual wear (including T-shirts, Tracks, sweatshirts, shorts, leggings, athleisure, thermal wear, capris and skirts).

(b)  Acquisition of approximately 25% shareholding of Federal-Mogul Goetze (India) Limited (FMGI) by Icahn Enterprises L.P. (IEP LP); American Entertainment Properties Corp. (AEP); and IEH FMGI Holdings L.L.C. (IEH)

The proposed transaction contemplates an acquisition of approximately up to 25.02% shareholding of FMGI by the Acquirers from the public shareholders of FMGI. Under the SEBI (Substantial Acquisitions of Shares and Takeover) Regulations, 2011, IEP LP and AEP, together with its subsidiary, IEH are the persons acting in concert with Tenneco Inc.

FMGI (the target) manufactures and sells pistons, piston rings, valve seats, valve guides and structured parts for a wide range of applications including two/three wheelers, cars, sport utility vehicles, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines.

(c)   Restructuring of pharmacy business of Apollo Hospitals Enterprise Limited (AHEL) and its subsequent acquisition by Enam Securities Private Limited, Jhelum Investment Funds I and Hemendra Kothari.

In terms of the proposed combination, the front end standalone pharmacy business of AHEL shall be transferred by AHEL to Apollo Pharmacies Limited (APL) by way of slump sale pursuant to approval of the National Company Law Tribunal, Chennai Bench.

AHEL is a part of the Apollo Group and provides integrated healthcare services in India and internationally. AHEL healthcare facilities comprise primary, secondary, and tertiary care facilities.

APL is engaged in the business of buying, selling, importing, exporting, distribution or dealing in or manufacturing, Medical and Pharmaceuticals products like intravenous sets, intravenous solutions, all kinds of drugs, disinfectants, tinctures, colloidal products, injectable and all pharmaceuticals and medical preparations and other related products.

Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1585979

3.     Government amends Rule 54 of CCS (Pension) Rules, 1972

On death of a Government servant while in service, the family is entitled to a family pension in accordance with Rule 54 of the Central Civil Services (Pension) Rules, 1972. The family pension was payable at enhanced rate of 50% of the pay last drawn for a period of 10 years, if the Government servant had rendered a continuous service of not less than seven years; thereafter the rate of family pension was 30% of the pay last drawn. In case the Government servant had rendered a service of less than seven years before his death, the rate of family pension was 30% from the beginning and family pension at enhanced rate of 50% of last pay drawn was not payable to the family.

The Government felt that the need for family pension at enhanced rate is more in the case of a Government servant who dies early in his career, as his pay at the initial phase of service is much less. The Government has, therefore, amended Rule 54 of the Central Civil Services (Pension) Rules, 1972 by a notification dated 19th September, 2019. As per the amended Rule 54, the family of a Government servant, who dies within seven years of joining service, will also be eligible for family pension at enhanced rate of 50% of last pay drawn, for a period of 10 years.

The above amendment would be effective from 1st October, 2019. However, the families of Government servants who died before completion of service of seven years within 10 years before 1st October, 2019, will also be eligible for family pension at enhanced rates with effect from 1st October, 2019.

The benefit of amended provisions would be available to the families of all Government servants, including the personnel of CAPFs, in the unfortunate event of their death within seven years of joining Government service.

Sources: https://pib.gov.in/PressReleseDetail.aspx?PRID=1585979

Goods and Service Tax (GST) Updates:

1.     GST Rate on Services as Recommended by The GST Council in Its 37th Meeting

The 37thGST Council met in Goa today under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman  . The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Chief Minister of Goa Shri PramodSawant,  Finance Ministers of States & UTs and seniors officers of the Ministry of Finance .

GST Council took following decisions relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issues.

2.     GST Rate on Services as Recommended by The GST Council in Its 37th Meeting

3.     GST Rate on Goods as Recommended by The GST Council in Its 37th Meeting

Read Full at: https://pib.gov.in/PressReleseDetail.aspx?PRID=1585979

4.      Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1585979  

Update