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CS Executive · Company Law and Practice · Annual Report - Concepts

A student confuses the Section 394 report with the report under Section 461. Which statement correctly distinguishes the Section 461 report?

The section 461 report is a general annual report on the working and administration of the Companies Act, 2013, laid before each House of Parliament within one year of the close of the year it relates to. It is not company-specific like the section 394 report.

  1. AIt is a general annual report on the working and administration of the Act, laid before each House of Parliament within one year of the close of the year to which it relatesCorrect
  2. BIt is a report on a single Government company, prepared within three months of its AGM
  3. CIt is a report by the Company Liquidator to the Tribunal at the end of each quarter
  4. DIt is an inspector's report authenticated by the company's seal

Explanation

Section 461 requires the Central Government to cause a general annual report on the working and administration of the Act to be laid before each House of Parliament within one year of the close of the year. The section 394 report concerns one Government company. The liquidator's quarterly report is under section 288 and the inspector's report under section 223.

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