MCA has issued a clarification on Audit report format under Sub-rule (8) of Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 on its official website.
As per Rule 9A(8), every unlisted public company was required to file the audit report for the purposes of reconciliation of the total issued capital, and capital held by depositories in dematerialized form as provided under regulation 55A of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 on a half-yearly basis to the Registrar. However no format of the audit report was notified by MCA. Hence, companies resorted to filing of the same vide EForm GLN -1 or 2. The Registrar of Companies was however rejecting these forms in a few cases as this was not the notified format.
Now, MCA has issued the following clarification on its website after submission of the representation by the ICSI stating the need of standardised format for Audit report:
Stakeholders are requested to note that the Ministry is in the process of prescribing the format of the audit report for reconciliation of share capital under sub-rule (8) of rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014. In the meanwhile, the stakeholders are requested to make such filings only after such format is made available.
