Mridul Gupta (CS ) (43 Points)
12 November 2010Hi ,
Why do we all show changes in director in the board's report as the same is not required u/s 217.If it is shown then changes upto which date is shown...???
Neha Gupta
(PCS)
(377 Points)
Replied 12 November 2010
Dear Mridul,
The Directors report of the Company is prepared upto the end of 31st March of every financial year, However if any major/ relevant changes such as change in the Financial situation, Registered Office, composition of Board of Director, Change in name or other relevant changes took place even after the 31st march of that F.Y. but must be upto or before the date of Notice of the AGM for that year, should be entered or specified in the Board’s Report of that Financial year.
The reason behind this is that Board of Directors report gives an over all view of not only companies financial Status but other relevant factors to the stakeholders of the Company. Which helps them to take proper decisions in future matters.
Mridul Gupta
(CS )
(43 Points)
Replied 12 November 2010
Dear Ms. Neha,
Thanks for ur prompt reply on my query..
My further query is that If we dont show the changes in the board's report then what are the consequences???If the changes are shown then what about the reappointment of retiring directors,as they are reappointed on AGM and not on the day of Board Meeting held to place Board's report??Most of the Big companies are showing the details of retiring and Reappointment of directors as well as that of additional directors in the board's report ???
CAclubindia
