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AOC 4 for NBFCs

Earlier this year, The Ministry of Corporate Affairs issued a notification announcing amendment to the Companies (Accounts) Rules, 2014 , that all Non-Banking Financial Companies (NBFC) that are required to comply with the Indian Accounting Standards (Ind AS) must file their financial statements along with newly introduced Form AOC-4 NBFC (Ind AS) and Form AOC-4 CFS NBFC (Ind AS)

The amendment made to Rule 12 of the Companies (Accounts) Rules, 2014 now includes a sub rule 1A referring to the NBFCs

12. Filing of financial statements and fees to be paid thereon : (1) Every company shall file the financial statements with Registrar together with Form AOC-4. (1A) Every Non-Banking Financial Company (NBFC) that is required to comply with Indian Accounting Standards (Ind AS) shall file the financial statements with Registrar (ROC) together with Form AOC-4 NBFC (Ind AS) and the consolidated financial statement, if any, with Form AOC-4 CFS NBFC (Ind AS)

The companies that are classified as NBFC’s are:

  • Financial institution.
  • Nidhi and chit fund companies
  • Housing finance companies.
  • Merchant banking companies.
  • Non-banking institutions having lending & acceptance of deposits as its principal business activity.

 

Applicability criteria:

The table below is a snapshot of the classes of NBFCs required to comply with the new requirements.

Applicable to Net Worth (INR) New forms applicable for accounting periods
All NBFCs and their holding subsidiary, joint venture or associate companies 500 Crore or more Starting on or after 1 April 2018
Equity or Debt NBFCs , listed or in the process of listing and their  holding, subsidiary, joint venture or associate companies Less than 500 crore Starting on or after 1 April 2019
Unlisted NBFCs

and their  holding, subsidiary, joint venture or associate companies

Less than 500 crore  but more than 250 crore Starting on or after 1 April 2019

 

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