Board of Directors: AOC4 NBFC | Download Free Templates
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1. What is Form AOC 4 NBFC?
AOC 4 NBFC is a form filed by companies under Rule 12 of the Companies (Accounts) Rules, 2014: Filing of financial statements and fees to be paid thereon : (1) Every company shall file the financial statements with the Registrar together with Form AOC-4. (1A) Every Non-Banking Financial Company (NBFC) that is required to comply with Indian Accounting Standards (Ind AS) shall file the financial statements with Registrar (ROC) together with Form AOC-4 NBFC (Ind AS) and the consolidated financial statement, if any, with Form AOC-4 CFS NBFC (Ind AS)”.
2. Why is it important?
Rule 4(1)(iv) of Ind AS Rules provides for the NBFCs which are required to comply with Ind AS Rules while preparing their Financial Statements & Audit. As per this, the NBFCs which fall under any of the below-mentioned criteria are required to comply with Ind AS:
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Companies Covered |
Net worth (INR) Mandatory for Accounting Period |
|
(a) ALL NBFCs |
500 Crore or More On or after 1st April 2018 |
|
(b) Holding, subsidiary, joint venture or associate companies covered under (a) above |
N.A On or after 1st April 2018 |
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(c) Listed NBFCs |
Less than 500 crores On or after 1st April 2019 |
|
(d) Unlisted NBFCs |
More than 250 crores but On or after 1st April 2019 less than 500 crores |
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(e) Holding, subsidiary, joint venture or associate companies covered under(c) and (d) above |
N.A On or after 1st April 2019 |
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Email is a crucial channel in any marketing mix, and never has this been truer than for today’s entrepreneur. Curious what to say.