NFRA-1- Applicability
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Important Question on NFRA -1 Applicability
What is the reason that NFRA is not applicable to the Company as defined under Section 2(20) of the Companies Act, 2013 ?
Interpretation only
In E-form NFRA-1, details of Auditors is required to be filed. As under Companies Act, MCA E-form ADT-1 is available for the Companies register under Company Law to intimate the MCA (ROC) regarding the Appointment of Auditor.
But there is no form is prescribed for body corporate other than Company to register the particulars of appointment of Auditor with the Authority (MCA/ROC).
Hence the form is made mandatory to be filed by the Body Corporate (defined under section 2(11) of the CA, 2013) other than Company (defined under Section 2(20) of the CA, 2013)
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