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CA Intermediate · Corporate and Other Laws · Accounts of Companies

Mahalakshmi Steels Ltd, a listed company, has a financial year ending on 31 March. In the previous year, it filed its annual return and financial statements with the Registrar. Its AGM was held on 20 September. The Board asks about the time limit for filing financial statements with the Registrar after the AGM at which they were adopted. Which statement is correct?

A company must file its financial statements with the Registrar within thirty days of the date of the annual general meeting, in the prescribed form and with the prescribed fee. The sixty-day, six-month and ninety-day periods are not the rule for this filing.

  1. AWithin thirty days of the date of the AGM, the company must file the financial statements with the Registrar in the prescribed form with the prescribed feeCorrect
  2. BWithin sixty days of the close of the financial year
  3. CWithin six months of the close of the financial year
  4. DWithin ninety days of the date of the AGM

Explanation

After the financial statements are adopted at the AGM, the company must file a copy with the Registrar within thirty days of the date of the AGM, with the prescribed fee. If the AGM does not adopt them, they must be filed within thirty days of the date of the AGM along with a statement of that fact and reasons. The other time limits do not correspond to this requirement.

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