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All You Need To Know About Form ADT-1

In response to the COVID-19 situation, the government has launched the Companies Fresh Start Scheme (CFSS) 2020s to complete their filing requirements and payment of normal fees without incurring penalties. The forms that are eligible for filing under CFSS 2020 include Form ADT 1 and PAS 3, annual return ( Form MGT 7), financial statement ( Form AOC 4), and MGT 14 among others.

The Registrar of Companies must be notified when a company appoints an auditor to check their account books as per law. In accordance with Section 139 (1) of the New Companies Act, 2013, every company is required to register the auditor’s name and other details with the ROC via. Under this Section, all information regarding the appointment must be communicated to the ROC as soon as possible, and penalties will be imposed if this is not done. 

 Let’s take a look at everything you need to know. 

DUE DATE: As per the new Companies Act 2013, details regarding the auditor and his/her appointment must be notified to the ROC, at least within 15 days of the appointment. Such notice must be filed through Form ADT 1 which may be found and filled through the MCA portal. For instance, if the AGM in which the auditor was formally appointed occurred on the 30th of September, Form ADT-1 must be filed at least by the 14th of October.

What is Form ADT-1?

Form ADT-1 works basically as an intimation to the ROC by every company which appoints an auditor after holding their Annual General Meeting (AGM). This form must be filed every year with the ROC after the conclusion of the AGM, and appointment of the auditor.

Documents Attached with the Form ADT-1

  1. Copy of the Company’s Board Resolution 
  2. A written letter of consent from the Auditor 
  3. Certificate from Auditor stating their authenticity u/s 141
  4. Copy of intimation given to the auditor by the company

Government Filing Fees 

If the nominal share capital

  • Is less than 1 lakh –  ₹ 200
  • Falls between 1 lakh and 5 lakhs –  ₹ 300
  • Is between 5 lakhs and 25 lakhs –  ₹ 400
  • Falls between 25 lakhs and 1 crore –  ₹ 500
  • And falls exceed 1 crore –  ₹ 600

Penalty on Delayed Filing 

If the delay is

  1. Up to 30 days, then the penalty will be twice the normal fees
  2. Between 30 and 60 days, then the penalty will be four times the normal fees
  3. From 60 to 90 days, then the penalty will be six times the normal fees
  4. Between 90 and 180 days, then the penalty will be ten times the normal fees
  5. Exceeds 180 days, then the penalty will be twelve times the normal fees
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Important Points for ADT-1 Form

  1. All Private/Listed/Unlisted/Public/One Person and any other Company must file Form ADT-1
  2. The company itself is responsible for filing the form and this is not the responsibility of the auditor
  3. Even if the auditor is appointed casually, Form ADT-1 must be filed.
  4. The form may be filed even for the appointment of the company’s first auditor if deemed necessary.
  5. Form ADT-1 may be filed electronically online via the Ministry of Corporate Affairs website
  6. The e-form uploaded this way will be auto-approved
  7. If the form is successfully registered, then the authorities will send an acknowledgment email to the registered email ID of the company
  8. Form ADT-1 has replaced the old Form 23B which the auditor was expected to file on receiving the appointment letter from a company. Form 23B was to be filed at least within 30 days after receiving the appointment letter. However when the new Companies Act 2013, was introduced, this procedure was scrapped, and the new Form ADT-1 was introduced.
  9. Also while the company files its AOC-4, it must mention the SRN number of the ADT-1 form.

Exceptions

It is not obligatory to file Form ADT-1 for the initial auditor if a company appoints its auditor for the first year following its incorporation. The obligation to file Form ADT-1 is specified in Section 139(1) of the Companies Act, 2013.

Eligibility Criteria

Form ADT-1 must be filed by all types of companies, whether listed or unlisted, private or public, except in the case of the first auditor. When filing AOC-4, individuals must include the SRN (Service Request Number) of Form ADT-1. If Form ADT-1 has been filed, enter the SRN of that form accordingly.

The following details of the Auditor must be supplied through the form:

  1. Auditor Category
  2. PAN of auditor
  3. Membership Number of auditor
  4. Auditor FRN
  5. Address/ Email ID of Auditor
  6. Period of appointment
  7. Date of Appointment of the Auditor
  8. Date of AGM
  9. Tenure of the last auditor
  10. Additional details regarding the vacancy
  11. SRN from ADTR-3
  12. FRN of the previous auditor
  13. Reason and date of a casual vacancy

Conclusion

As a result, we hope that our responses have adequately addressed your concern regarding the registration of company in India; if you need any additional assistance, please do not hesitate to contact us. We will be delighted to provide you with any assistance you require.

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About the Author

Shankar Rajendran, now leading intellectual property research at Zolvit formerly Vakilsearch, and formerly an integral part of the analysis team, boasts extensive expertise in IP law, patent landscaping, competitive intelligence, and strategic IP management. His ability to combine analytical precision with creative thought distinguishes him. Experience: Shankar Rajendran began his career journey at Zolvit formerly Vakilsearch, enhancing his skills in patent analysis, intellectual property rights, and competitive intelligence. She developed strong IP strategies and innovation roadmaps, contributing significantly over eight years to the development of IP strategies that drive business growth and competitive positioning. Expertise: Known for his adeptness in navigating complex patent data and turning it into strategic insights, Shankar Rajendran excels in conducting patent searches, analyzing IP portfolios, and generating strategic R&D insights, providing valuable IP intelligence. His strategic vision is key in formulating IP strategies that not only align with but also advance corporate goals, securing a competitive stance in the dynamic tech arena. Education: Shankar Rajendran's educational background, encompassing degrees in BEng Electronics and Communication, LLB with a focus on Intellectual Property Law, and an MSc in Information Technology, showcases his interdisciplinary learning approach. This diverse knowledge base allows his to adeptly tackle the multifaceted challenges of IP research and strategic planning. Passions: Beyond his professional endeavors, Shankar Rajendran is an avid learner and explorer, traveling extensively to immerse himself in various cultures. As a keen reader and tech enthusiast, she is always at the forefront of technological trends and innovations. His appreciation for classical music and passion for digital arts highlight a blend of traditional and contemporary influences, reflecting his professional methodology of integrating time-tested IP strategies with modern insights. At Zolvit formerly Vakilsearch, Shankar Rajendran's leadership in intellectual property research and strategic analysis continues to be crucial, positioning the company at the apex of IP innovation and excellence, solidifying his role as a key asset to the team.

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