31 March 2011
Our Company closes the books by 31st Dec Every year .The Due date for AGM is 30th June . Is there any provision under Indian Companies Act that accounts should be approved by the Board before 31st MArch . Otherwise my query is - Is there any time limit under Indian Companies Act that the Board has to approve the accounts within three months from the closure of books ?
31 March 2011
To the best of my knowledge, there is no such time limit prescribed under the Companies Act, 1956 within which the Annual Account of the Company should be adopted by the Board of Directors of a Company.
CAclubindia
