Query - Section 188 (AOC -2)

[Dimple Chawla]

Respected All, 

In case of Private Company can anyone please explain me what transactions need to be written in Form AOC 2 u/s 188 of Companies Act, 2013??

As per my opinion all the transactions for which approval has been taken in Board Meeting will be written in AOC 2.

Please help me.

Regards,

Dimple Chawla

[sravanthi g]

For pvt company, section is exempted and hence you need not mention there. 

However to be on safe side, you can enter whatever is mentioned in financials by the Auditors. 

Thanks & Regards,

CS Sravanthi Raviteja

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[Dimple Chawla]

Dear Sir,

Thank You so much for your reply.

Regards,

Dimple Chawla

[Dimple Chawla]

Respected All,

I want to know whether the whole section 188 is not applicable to private companies vide notification 05.06.2015 or only second proviso to sub section 1 is not applicable??

Further, In the Financials the Auditors have mentioned in Notes to Accounts that there were Related Party Transactions. But that transactions were with the Associate Company.

Will that be mentioned in Board's Report under the head Related Party Transactions?/

Please help at the earliest.

Regards,

Dimple Chawla

On Wed, Aug 3, 2016 at 10:46 AM, Dimple Chawla <dimplec...@gmail.com> wrote:

Dear Sir,

Thank You so much for your reply.

Regards,

Dimple Chawla

On Tue, Aug 2, 2016 at 6:18 PM, sravanthi g <gsrava...@gmail.com> wrote:

For pvt company, section is exempted and hence you need not mention there. 

However to be on safe side, you can enter whatever is mentioned in financials by the Auditors. 

Thanks & Regards,

CS Sravanthi Raviteja

On Tue, Aug 2, 2016 at 12:00 PM, Dimple Chawla <dimplec...@gmail.com> wrote:

Respected All, 

In case of Private Company can anyone please explain me what transactions need to be written in Form AOC 2 u/s 188 of Companies Act, 2013??

As per my opinion all the transactions for which approval has been taken in Board Meeting will be written in AOC 2.

Please help me.

Regards,

Dimple Chawla

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[Bidu Bhusan Dash]

​Respected All, 

In case of Private Company can anyone please explain me

​whether to prepare

Form AOC 2

​or not ​

u/s 188 of Companies Act, 2013??

Please help me.

​

Warm Regards,

CS Bidu Bhusan Dash

M-99713 24050

[ACS suresh chaudhary]

No exemption to pvt companies.Have to disclose in AOC 2. second proviso to the section 188  talks about special resolution (exemption notification dated 05.06.2015)

[ACS suresh chaudhary]

Also amend Act 2015 dont exempt pvt company but replaces special resolution with resolution only.

On Tuesday, August 2, 2016 at 12:00:47 PM UTC+5:30, Dimple Chawla wrote:

[Dimple Chawla]

Sir, 

What if the Private Companies are Holding Subsidiary of one another. Then this section is exempt from entering in AOC 2??

Regards,

Dimple Chawla

[Shinil Nambrath]

Transactions with related party which are not at arms length basis and also which are material in nature needs to be disclosed in the AOC -2 for Private limited companies.

[Dimple Chawla]

Dear Sir,

How is materiality decided in case of Private Limited companies? Can you please help me.

Regards,

Dimple Chawla

[Bidu Bhusan Dash]

Sir, 

What if the Private Companies are Holding Subsidiary of one another. Then this section is exempt from entering in AOC 2??

Warm Regards,

CS Bidu Bhusan Dash

M-99713 24050