MCA on Friday, 4th September, 2015 issued its 2nd Amendment to the Companies Accounts Rules, thereby bringing about the following changes:

• Inserted the definitions of Indian Accounting Standards as under:

“Indian Accounting Standards”means the Indian Accounting Standards as referred to in Rule 3 and Annexure to the Companies (Indian Accounting Standards) Rules, 2015

• Inserted New Rule 4A; as under:

“4A. Forms and Items contained in financial statements.- The financial statements shall be in the form as specified in Schedule III to the Act and comply with the Accounting Standards or Indian Accounting Standards as applicable:

Provided that the items contained in the financial statements shall be prepared in accordance with the definitions and other requirements specified in the Accounting Standards or Indian Accounting Standards, as the case may be.”

• Inserted the following proviso in Rule 8 sub rule 3:

“Provided that the requirement of furnishing information and details under this sub-rule shall not apply to a Government Company engaged in producing defence equipments.”

• Substituted the Sub rule (1) of Rule 12 as under:

“(1) Every company shall file the financial statements with the Registrar together with Form AOC-4; and the consolidated financial statements, if any with Form AOC-4 CFS.”

• Form AOC-4 Substituted by New Form AOC-4; Inserted Form AOC-4 CFS