Skip to content

CA Intermediate · Corporate and Other Laws · Accounts of Companies

Tarang Pharma Ltd has finalised its financial statements for the year ended 31 March. The statutory auditor, Mr Rao, has signed his report. The board now wishes to know the correct rule about holding the AGM and filing the financial statements with the Registrar. Which statement reflects the law for a company that holds its AGM and adopts its accounts there?

The copy of the financial statements adopted at the AGM, with consolidated statements if any, must be filed with the Registrar within 30 days of the AGM, and delay attracts additional fees. The period runs from the AGM date, and filing is required regardless of dividend or listing status.

  1. AThe company must file the financial statements with the Registrar within 30 days of the AGM, with additional fee if delayedCorrect
  2. BThe company must file the financial statements within 30 days of the end of the financial year
  3. CFiling with the Registrar is needed only if the company has declared a dividend
  4. DNo filing is needed because accounts are public only for listed companies

Explanation

Under section 137, a copy of the financial statements, including consolidated statements if any, duly adopted at the AGM, must be filed with the Registrar within 30 days of the AGM, with additional fees for delay. The 30-day period runs from the AGM, not from year end. Filing does not depend on dividend or listing.

Did you get it right without looking?

One question tells you little. A timed set on Accounts of Companies shows your real accuracy, how long you take and where you lose marks.

Practise Accounts of CompaniesFree diagnostic mock

More Accounts of Companies questions