The ADT-3 form is a regulatory filing that an auditor must submit to inform the Registrar of Companies (ROC) about their resignation.
Introduction
The ADT-3 form is a crucial compliance document under the Companies Act, 2013. It is mandatory for auditors who resign from a company before their term ends. Filing the ADT-3 form on time ensures transparency and smooth regulatory compliance. But when should you file the ADT-3 form? This guide explains the right timing, procedures, and consequences of delays.
What is the ADT-3 Form?The ADT-3 form is a regulatory filing that an auditor must submit to inform the Registrar of Companies (ROC) about their resignation. As per Rule 8 of the Companies (Audit and Auditors) Rules, 2014, filing this form is a legal obligation.
When Should You File the ADT-3 Form?1. Within 30 Days of ResignationAccording to the Companies Act, an auditor must file the ADT-3 form within 30 days of their resignation date. This is a mandatory deadline, and any delay can attract penalties.
2. Immediately After Informing the CompanyOnce the auditor submits their resignation letter to the company’s board, they should promptly file the ADT-3 form to the ROC. This ensures that the company can proceed with appointing a new auditor without compliance issues.
3. Before the Company Appoints a New AuditorThe company must appoint a new auditor within 30 days of the previous auditor’s resignation. Filing the ADT-3 form on time allows a smooth transition, preventing any regulatory hurdles.
Step-by-Step Process to File ADT-3 FormStep 1: Gather Required DetailsThe auditor must fill in accurate details and attach the resignation letter.
Step 3: Digitally Sign the FormA Digital Signature Certificate (DSC) is required for submission.
Step 4: Submit via the MCA PortalThe auditor must upload the ADT-3 form to the Ministry of Corporate Affairs (MCA) portal and pay the applicable fees.
Consequences of Not Filing the ADT-3 Form on TimeFiling the ADT-3 form on time is essential for maintaining corporate governance and regulatory compliance. Auditors should ensure they complete this process within 30 days to avoid penalties and facilitate a smooth transition for the company. If you are an auditor planning to resign, make sure to submit the ADT-3 form promptly and accurately.
Source: https://ayema.ng/blogs/147040/When-Should-You-File-the-ADT-3-Form
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