1 of the shareholder of the pvt ltd co wants to transfer his shares and therefore he has requested the company to provide him provisional balance sheet on the current date. i.e 16/06/2012. with valuation of per share as per discounted cash flow method.
can the company give such provisional b/s as on the date mentioned? or the valuation of shares be done as on 31/03/2012.
The provisional Balance Sheet can be given by the Company to the shareholders. To prepare the Provisional Balance sheet, A Practising Chartered Accountant can be appointed as an accoutant for carry out the assignment as per Standard on Auditing in this regard by ICAI for preparing the projected balance Sheet.
Hence, If the Balance sheet is signed and certified by the Directors then it will not solve the purpose of valuation unless it is verified by the the indepedant Auditor.
sir if some other shareholder approaches the company say after 10 days for the same issue, then do the company have to provide the provisional b/s again that is a new one after 10 days???
16 June 2012
no, the comapany is not going to get the audit done every time. The Shareholders inter alia can decide and fix up the meeting for apointment of CA for auch assignment.
The report issued 10 days prior will sufice to other shareholder also.
CAclubindia
