Annual filing - UDIN

[NITTE ASTHANA]

Dear members,

One of my client failed to file his AOC-4 & MGT-7A within the due date, now his CA is unable to generate UDIN from back date. Turnover of the company is almost nil so now is it mandatory to generate UDIN for audit report as there is no turnover in the company, his balance sheet is almost nil.

Thanks & Regards

CS Nitte Asthana

[CA Shubham Nanda]

UDIN needs to be generated on signing date. As you are late in filing, generate UDIN on current date. There's no other option, but UDIN is mandatory.

Thanks & Regards

Shubham Nanda & Co.
CA Shubham Nanda (B.Com., ACA)

Contact No. 9711018234
Email Id: shubhamn...@gmail.com

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[NITTE ASTHANA]

But if we generate UDIN on the current date then AGM should be of which date?

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Thanks & Regards

CS Nitte Asthana

Niti A & Co.

Company Secretaries

Meerut (UP)

Mob. no - +91 8755146243

[Itisha Ghorawat]

It is mandatory to generate UDIN. Also since the auditor will be generating it in current date it implies that audited financials were not placed before AGM or AGM was not held. And you may hence be required to go for compounding of AGM for the year to which such financials pertain

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[NITTE ASTHANA]

Correct me if I am wrong..

Audit is not compulsory if there is no turnover and if there is no turnover,no audit then generation of UDIN should not be mandatory.

[CA Shubham Nanda]

Date of AGM is the original date. But you can't generate UDIN on that date. So, there's no other option. It's better to generate UDIN on current date & mention it in the Report.

As you said turnover is Nil, I don't think there may be any problem.

Other views also welcomed.

Thanks & Regards

Shubham Nanda & Co.
CA Shubham Nanda (B.Com., ACA)

Contact No. 9711018234
Email Id: shubhamn...@gmail.com

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[Itisha Ghorawat]

For a company statutory audit is mandatory irrespective of turnover

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[NITTE ASTHANA]

Okay,now how should I get through this?

Other views are solicited.

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[SHIPRA SINGH]

get financials sign on date of udin taken and hold agm in current date and then go for compounding. 

currently working on one same case.

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[NITTE ASTHANA]

Can you please explain the procedure for compounding?

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[CS Nagpur]

Hi Dear shipra singh Can you please inform wht time it take for compounding and Fees?

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[Manoj Sharma]

A certificate may be generated by the auditor that he could not generate UDIN due to tech. issues at that time but he is doing it now. Mention UDIN in the certificate.

[Gitika Arora]

Hi Shipra,

As you are currently working on compounding for not holding AGM, can you please share about the appx professional fees that is to be quoted to the client and appx time to be taken for completing this.

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With Best Regards,

CS Gitika Arora 

Practising Company Secretary

Gitika Arora & Associates

(Proprietor)

ACS, M.Com

Call: +91-9729571647 | +91-9650415780

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