1) Could any one give me list of the cases when company is not required to comply with the provisions of sec 255 and 256 .
2) Is filing of limited review report by the company under clause 41 of the listing agreement is compulsory ?is there any exception when company is not equired to file the limited review report ?
Reg
Rekha Sharma
| Originally posted by :Rekha Sharma | ||
| " | 1) Could any one give me list of the cases when company is not required to comply with the provisions of sec 255 and 256 . 2) Is filing of limited review report by the company under clause 41 of the listing agreement is compulsory ?is there any exception when company is not equired to file the limited review report ? Reg Rekha Sharma |
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hii,
compliance with Sec. 255 & 256 is mandatory at all times. however the same director who is retiring may be appointed at the same meeting.
submission of Limited review report is mandatory. if there is deviation exceeding 20% from the quarterly report submitted before, the same should be reported in the revier report. Submit copy of Limited Review Report(LRR) by the Statutory Auditors for the 1Quarter to SE within 2 months of Quarter end (prescribed date 30th Aug. Ref: Cl.41)
Thanks for reply
If company is in default of payment of debentures /deposits as listed in sec 274 1 (g) and no one is willing to act as director of the company how this compliance can be done .
Out of four directors in the board one is MD, second is nominee director and rest ( i.e.two) are whole time directors taking remuneration in such a case who will retire by rotaion
Reg
Rekha Sharma
As per the Equity Listing Agreement Clause 41 it is compulsory to file review report in any case. However if the varition in PAT excedds by 10% then the company has to give reply to the stock exchanges for such variation.
| Originally posted by :Rekha Sharma | ||
| " |
Thanks for reply hii, in terms of 274(1)(g) debn./dep. are concerned, one year cooling period is provided. check if exactly one year has expired since the date of start of default. if not, u can wait. if yes, it will be a non compliance if no. of directors fall below 3/2 .... apart from the nominee director, remaining directors are all liable to retire. Pass resolution retiring them and re-appointing at the same time. that is sufficient compliance. gud afternoon. |
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