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- turnover of which as per profit and loss account for the immediately preceding financial year does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees.
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3 days ago · “net worth” means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account , after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves ...
76. Acceptance of deposits from public by certain companies. 76A. Punishment for contravention of section 73 or section 76. CHAPTER VI REGISTRATION OF CHARGES 77. Duty to register charges, etc. 78. Application for registration of charge. 79. Section 77 to apply in certain matters. 80. Date of notice of charge. 81. Register of charges to be kept ...
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- Query Raised by The Applicant Company
- Transition of The Company’S Financial Statements to Ind as
- Ind as 101 ‘First Time Adoption’
- Definition of ‘Net Worth’ as Per Companies Act, 2013
- The Sebi’S Observation
- Sebi’S Reply & Conclusion
The Applicant Company sought informal guidance regarding the computation of minimum net worth required under Chapter X of the SEBI Operational Circular dated August 10, 2021, issued under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. In addition, the company also sought clarification on whether it meets the minimum n...
As on September 30, 2022, the shareholders’ fund of the company was Rs. 106.07 crores, and the balance in the Reserves and Surplus account included a revaluation reserve to the tune of Rs 152.52 crores (pursuant to conversion of firm to the company, the assets were revalued) as per the financial statements prepared under Indian Generally Accepted A...
According to IND AS, all the adjustments or impacts arising from the transition to IND AS, including the revaluation of assets will be accounted for as an adjustment to retained earnings. Thus, post Ind AS adoption, the net worth of the Company will be more than the minimum eligible net worth of Rs. 100 Crores as required for the issuance of struct...
Section 2(57) of the Companies Act, 2013 defines the term “net worth” as the aggregate value of the paid-up share capital and all reserves created out of the profits (Securities Premium Account and debit or credit balance of Profit and Loss Account), after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneo...
The SEBI was of the view that the definition of the term `networth’ in the SEBI (Issue and listing of non-convertible securities) Regulations, 2021 is linked to the one provided by the Companies Act, 2013. Section 129 of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014, Companies (Indian Accounting Standards) Rules, 2015 (IAS)...
The SEBI clarified that the calculation of net worth for issuance of MLDs shall be as per the applicable Accounting Standards and Companies Act, 2013. Pursuant to Regulation 48 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, listed entity must comply with all applicable and notified Accounting Standards. In conclusi...
The term related party shall have the same meaning as given in clause 76 & 77 of Section 2 of Companies Act 2013 to be read with Rule 4 of the Companies (Specification and definition details) Rules, 2014. 5. Prepaid Expenses, losses. This shall include: Prepaid expenses and losses as per Balance Sheet / Trial Balance.
Net worth means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out...
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Mar 14, 2023 · The definition of the term `networth’ in the SEBI (Issue and listing of Non-convertible securities) Regulations, 2021 is linked to the one provided by the Companies Act, 2013. Section 2(57) of the Companies Act 2013, provides for calculation of networth.
Section 2 (57) definition of ‘‘net worth’’ modified, it says that only paid up capital, share premium and reserves created out of profit will be treated as net worth. Credit balance in Statement of Profit & Loss has been left out. Section 2 (59) definition of “Officer” modified to include CEO/ CFO or any
