Annual accounts not approved- urgent
This query is : Resolved
27 September 2011
Respected Sir,
I want to know what will happen when the accounts are not approved by the Shareholders at the AGM. What the Company will do under such circumstances?
I want to know what will happen when the accounts are not approved by the Shareholders at the AGM. What the Company will do under such circumstances?
27 September 2011
· if the Balance Sheet and the Profit and Loss Account have been laid before the Annual General Meeting, the same has to be filed with the concerned ROC in [E-Form No. 23 AC] and [E-Form No. 23ACA] respectively whether it is adopted by the meeting or not. [Section 220(2)(1)] Even if the meeting is adjourned without adopting the Balance Sheet and the Profit and Loss Account, the same has to be filed with the concerned ROC.
· The Balance Sheet and the Profit and Loss Account are also required to be filed if the Annual General Meeting of a company for any year has not been held within thirty days of the latest day on or before which the meeting should have been held.
· The Balance Sheet and the Profit and Loss Account are also required to be filed if the Annual General Meeting of a company for any year has not been held within thirty days of the latest day on or before which the meeting should have been held.
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