The MCA, has, by way of Notification dated March 24, 2021 and effective from April 1, 2021, introduced and amended various disclosures required to be made in the financial statements of a company, several of which were introduced under the Companies (Auditor’s Report) Order, 2020. Certain key disclosure requirements pursuant to the amendment are listed below:

(i) details of the immovable property where title deeds are not held in the name of the company;  (ii) specified details in relation to corporate social responsibility obligations/activities of the company;  (iii) disclosure of the declaration of the company as willful defaulter by any bank or financial institution or other lender; (iv) disclosure of certain financial ratios; (v) details of utilisation of borrowed funds and share premium; (vi) details of investment/trading in any cryptocurrency/virtual currency;  and (vii) details of any transaction not recorded in the books of accounts of the company that have been surrendered or disclosed as income during the year, in any tax assessments under the Income Tax Act, 1961, unless immunity is granted in any scheme, and related details.