I am pursuing my industrial training and i see that some of the figures in 2007-08 annual report is different to the figures given under py figures in 2008-09 annual report. when I enquired they said its a rectification of mistake. Is it possible to do this. if yes what are the procedures?
3 Replies
Malav Shah
(Company Secretary and AVP Legal)
(171 Points)
Replied 07 September 2009
Hi
Legally, you cannot alter the balance sheet after it is approved by the shareholders. Infact any figures is wrong in the Balance sheet, then your directors are criminally liable for wrong statements in the Balance Sheet.
CA NEETHU JOY
(Executive KPMG)
(52 Points)
Replied 07 September 2009
thanks for ur rply. They say that it is only regrouping of expenses and to this effect a note has been given in the notes to accounts.
However , I find that the total income of 2007 has been reduced as per 2008-2009 annual report
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 07 September 2009
Dear Ms. Neetu
At the time of approval of balance sheet and profit and loss account, if there was no mistake in the said account but after filing Form 23AC and Form 23ACA with concerned ROC you discover that the information given in the above form in incorrect then you can file Revised Form 23AC and Form 23ACA with correct information with concern ROC of the details as approvrd by the Board.
Regards
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