June 2023

Section 137 The Companies Act, 2013

Section 137 The Companies Act, 2013

Copy of financial statement to be filed with Registrar (1) A copy of the financial statements, including consolidated financial statement, if any, along with all the documents which are required to be or attached to such financial statements under this Act, duly adopted at the annual general meeting of the company, shall be filed with […]

Section 136 The Companies Act, 2013

Section 136 The Companies Act, 2013

Right of member to copies of audited financial statement. [Omitted], a copy of the financial statements, including consolidated financial statements, if any, auditor’s report and every other document required by law to be annexed or attached to the financial statements, which are to be laid before a company in its general meeting, shall be sent to every

Section 135 The Companies Act, 2013

Section 135 The Companies Act, 2013

Corporate Social Responsibility (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during 3[the immediately preceding financial year] shall constitute a Corporate Social Responsibility Committee ofthe Board consisting of three or more Directors, out of which at least

Section 134 The Companies Act, 2013

Section 134 The Companies Act, 2013

Financial Statement, Board’s Report, etc (1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board by the chairperson of the company where he is authorised by the Board or by two Directors out of which one shall be managing director, if any, and the Chief Executive Officer,

Section 133 – The Companies Act, 2013

Section 133 The Companies Act, 2013

This article is written by CA Bhuvnesh Goyal. The article discuss the provisions of Section 133 of the Companies Act 2013 which provides for the powers of Central Government to prescribe Accounting Standards. Central Government to prescribe accounting standards. Section 133 of the Companies Act, 2013 States that the government can set rules for accounting, but only after

Section 132 The Companies Act, 2013

Section 132 The Companies Act, 2013

Constitution of National Financial Reporting Authority 1) The Central Government may, by notification, constitute a National Financial Reporting Authority to provide for matters relating to accounting and auditing standards under this Act. 7[(1A) The National Financial Reporting Authority shall perform its functions through such divisions as may be prescribed.] ***(2) Notwithstanding anything contained in any other law for the

Section 131 The Companies Act, 2013

Section 131 The Companies Act, 2013

Voluntary Revision of Financial Statements or Board’s Report (1) If it appears to the Directors of a company that— (a) the financial statement of the company; or (b) the report of the Board, do not comply with the provisions of section 129 or section 134 they may prepare revised financial statement or a revised report in respect of any of the three preceding financial years after obtaining

Section 130 The Companies Act, 2013

Section 130 The Companies Act, 2013

Re-opening of Accounts on Court’s or Tribunal’s Orders (1) A company shall not re-open its books of account and not recast its financial statements, unless an application in this regard is made by the Central Government, the Income-tax authorities, the Securities and Exchange Board, any other statutory regulatory body or authority or any person concerned and an order is made by

Section 129A The Companies Act, 2013

Section 129A The Companies Act, 2013

Periodical financial results The Central Government may, require such class or classes of unlisted companies, as may be prescribed,— (a) to prepare the financial results of the company on such periodical basis and in such form as may be prescribed; (b) to obtain approval of the Board of Directors and complete audit or limited review of such periodical financial

Section 129 The Companies Act, 2013

Section 129 The Companies Act, 2013

Financial Statement 1) The financial statements shall give a true and fair view of the state of affairs of the company or companies, comply with the accounting standards notified under section 133 and shall be in the form or forms as may be provided for different class or classes of companies in Schedule III: Provided that the items contained in such financial statements shall be in