Statement of Account: detailed breakdown of sources and application of funds with mandatory auditor certification. Statement of Account requires disclosure of classified Sources of Funds (capital; reserves and surplus; loan funds subdivided into secured loans, debentures, unsecured loans, deposits) and Application of Funds (fixed assets; investments; current assets less current liabilities to derive net current assets; miscellaneous expenditure; debit in profit and loss), and mandates signatures of directors/MD/secretary and certification by the statutory auditor or a whole-time practising chartered accountant with membership/certificate number and seal.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Statement of Account: detailed breakdown of sources and application of funds with mandatory auditor certification.
Statement of Account requires disclosure of classified Sources of Funds (capital; reserves and surplus; loan funds subdivided into secured loans, debentures, unsecured loans, deposits) and Application of Funds (fixed assets; investments; current assets less current liabilities to derive net current assets; miscellaneous expenditure; debit in profit and loss), and mandates signatures of directors/MD/secretary and certification by the statutory auditor or a whole-time practising chartered accountant with membership/certificate number and seal.
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