The company sends in relation of their financial statement contains
(i) A balance sheet as at the end of the financial year in a company.
(ii) The profit and loss account or in the case of a company having on any exercise not for profit. An income and spending account for the financial year.
(iii) The cash flow statement for the financial year.
(iv) A statement of changes in assets if applicable.
(v) Any informative note annexed to or forming part of
(vi) The dormant company, one person company and small company is not included in the cash flow statement.
To whom your company sends financial statements
2. Every company shall prepare and keep at its registered office. Such as books of account, other relevant books, paper and financial statement for every financial year. It gives a true and fair view of the state of the affairs of the company. The company is including its branch office or offices. The transactions effected both at the registered office and its branches.
3. The financial statements shall give a true and fair view of the state affairs of the company. The accounting standards notified under the section 133 of the companies act 2013.
4. Under the section 129 of the companies act 2013 states for the purpose of this section. This may except where the context needs. If any remark to the financial statement shall include any notes affixed to or organizing unit of such financial statement.
5. At every annual general meeting (AGM), the members of the company. Whether a company with a share capital or otherwise consider. The financial statements as an item of ordinary business.
6. The ordinary business means business to be interacted at an annual general meeting.
(i) The intellection of financial statements consolidates financial statements if any. The reports of the board of directors and auditors.
(ii) The statement of any dividend.
(iii) The appointment of directors in the place of those retiring.
7. Therefore, it goes without saying that prior to every annual general meeting. The members in a company who are all expected to consider and adopt financial statement.
8. At every annual general meeting of a company. The company board of directors shall organize before. This meeting is for the financial year of financial statement.
9. Where a company has one or more subsidiaries. Under the section (2) shall provided in addition to financial statements. A consolidated financial statement of the company and all of the subsidiaries in the same manner. Where the company has one or more subsidiaries. It should also attach along with its financial statement.
10. A general meeting of a company may be named by giving not less than clear 21 days. Either in notice writing or through electronic mode in the prescribed manner.
11. A copy of the financial statements containing consolidated financial statements in the act 2013. If any auditor’s report and every other document required to attached to the financial statements. Which are to be arranged. Before a company in its general meeting. It should be sent to every member of the company. Which is to every trustee for the debenture- holder of any debentures issued by the company to all persons. The members or trustee are being the person so entitled. It is not less than 21 days. Before the date of the meeting.
12. In the case of a listed company. It is sufficient. The copies of the documents are available for inspection at its registered office in Coimbatore. During working hours for a period of 21 days. Before the date of the meeting. A statement containing the prominent features of such documents in the prescribed form.The company sends may deem fit and it is sent to every member of the company. It also sent to every trustee for the officer of any debentures issued by the company. It is not less than 21 days.Before the date of the meeting. Hence the shareholders ask for full financial statements.
13. A signed copy of every financial statement is containing consolidated financial statement. If any can be issued for circulated or published. Only along with a copy of
(i) Any notes annexed to or forming part of such financial statement.
(ii) The auditor’s report.
(iii) The sub-section(3) referred the board’s report.
This will be bulky document as part of green initiative. The listed companies will have hundreds of thousands of members.
14. However, all members of the listed company are now a days getting. A link url in the registered email ID. Whereby they will be able to download the entire set in their system.
15.In the case of companies having a prescribed net worth and turnover. The central government has prescribed the manner of circulation of financial statement.
16. For this purpose, we have to refer to rule 11 of the companies accounts rules 2014. It applies all listed company sends for their registration. Such public limited company which have a net worth of more than one crore rupees. The turnover is more than ten crore rupees.
17. Where the company is a listed company. It should also place it’s financial statements containing consolidated financial statement. If any, all other documents required to be attached thereto, on it’s website. Which is maintained by or behalf of the company.
18. Where a company has one or more subsidiaries it has
(i) Place separate audited accounts in respect of each of its subsidiary on its website.
(ii) Provide a copy of separate audited accounts in respect of each of it’s subsidiary. To any of the shareholder of the company who asks for it.
Here it must be noted that the entire audited financial statement of subsidiaries is not automatically sent to every member of the holding company sends only to those members who want the entire set.
19. The statutory duty of every company to permit every member or trustee of the officer of any instruments issued by the company to examine. The documents stated under sub-section(1) at it’s registered office during business hours.
20.If any default is made in complying with the provisions of this section. The registration company shall be liable to a penalty of 25,000 rupees.Every officer of the company who is in default shall be liable to a penalty of Rs.5,000 only.
21. The section 101 of the 2013 act enables sending notices of AGM to members and others who are entitled to receive the same by giving a notice of less than 21 days subject to consent of not less than 95% of the members who are entitled to vote at the AGM.
22. The ministry of corporate affairs has clarified that financial statement too can be sent at a shorter notice.
23.Notice and accompanying documents may be given at a shorted period of time. If permission in writing is given thereto by electronic or physical. It is not less than 95% of the members entitled to vote at such forum.
24. The info ” without prejudice to section 101″ appearing in sub-section (1) of section 136 of the 2013 act. The company sends for their statement to the registration prospect.
25. In case of a listed company, the registration company should apply :
(a) Soft copies of full annual report containing its balance sheet, profit and loss account and directors report to all those shareholders who have e-mail address for the purpose of registration.
(b) Hard copy of statement containing the prominent features of all the documents. Which has prescribed in sub-clause (4) of clause (b) in section (219) of the act 1956. The shareholders who have not their registration in Coimbatore office.Unless the shareholders ask for full financial statements.
(c) Hard copies of full annual reports to those shareholders, who request for the same.