Applicability of IFC u/s 143(3)(I)

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Applicability of IFC u/s 143(3)(I)
Query (Issue) Started By: - Bipin Parmar Dated:- 11-8-2021 Last Reply Date:- 25-8-2021 Corporate Laws / SEBI / LLP
Got 1 Reply
Companies Law
Dear Sir / .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Ma'am, As per MCA notification , reporting on IFC u/s 143(3)(i) is not applicable to Private companies with turnover less than 50 Crore OR Private Companies aggregate borrowings less than 25 Cr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ore What if T/O less than 50 Crore but borrowing more than 25 cr? What if T/O More than 50 Crore but borrowing less than 25 cr? Thanks & regards Bipin Reply By Atul Mehrotra: The Reply: Section .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 143(3)(i) will not apply if any of the following conditions are met - 1. turnover is less than rupees fifty crores as per latest audited financial statement ; OR 2. aggregate borrowings from banks o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r financial institutions or any body corporate at any point of time during the financial year is less than rupees twenty five crore. To answer your questions- What if T/O less than 50 Crore but borr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... owing more than 25 cr? - IFC not applicable What if T/O More than 50 Crore but borrowing less than 25 cr? - IFC not applicable
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X