MCA Mandate

Companies covered

As mandated by the MCA, the following class of companies have to file their Financial Statements in a standard format for all Financial Periods beginning on or after 01-04-2014:

• All companies listed in India and their Indian Subsidiaries.
• All companies having a paid-up capital of Rs. 5 crore and above.
• All companies having a turnover of Rs. 100 crore and above.

However the following class of companies are exempted from this requirement till further orders from MCA.

• Banking Companies
• Insurance Companies
• Power Companies
• Non Banking Financial Companies (NBFCs)

Due Date

All companies falling in the above class of companies (excluding exempt class) are permitted to file their financial statements without additional fee within 30 days of the AGM. For Financial Year 2014-15, filing has been permitted till 31.10.2015 without payment of any additional fees.