Companies Act, 2013

Financial statement.

129. (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 accordance with the accounting standards:

Provided further that nothing contained in this sub-section shall apply to any insurance or banking company or any company engaged in the generation or supply of electricity, or to any other class of company for which a form of financial statement has been specified in or under the Act governing such class of company:

Provided also that the financial statements shall not be treated as not disclosing a true and fair view of the state of affairs of the company, merely by reason of the fact that they do not disclose-

(a)	-	in the case of an insurance company, any matters which are not required to be disclosed by the Insurance Act, 1938 (4 of 1938), or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);
(b)	-	in the case of a banking company, any matters which are not required to b .... To read the full section download the app from Google Play store Latest Job Openings View all 29 July 2026 Audit Executive RBSM Corporate Advisors Private Limited Pune CA View Details Featured 18 July 2026 CA Articleship apricus india Mumbai CA Inter View Details ARTICLESHIP 16 July 2026 Article Assistant Sahil Agarwal & Company Mumbai CA Inter View Details 14 July 2026 Senior Executive/ Manager H S SHARMA AND CO Pune CA Final View Details ARTICLESHIP 07 July 2026 Articleship Jawahar and Associates Chartered Accountants Hyderabad CA Inter View Details Featured 16 July 2026 CA Inter, CA Intermediate, CA IPCC, CA CPT, CA SemiQualified Vakilsearch.com Chennai CA Inter View Details ARTICLESHIP 17 July 2026 Article Assistant and B.com pass BANSAL YOGESH AND CO Gautam Budh Nagar B.Com View Details 16 July 2026 CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie Vakilsearch.com Chennai CA Inter View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Print  PDF Finance and Tax WhatsApp groups list CCI All Updates (WA Group) CCI All Updates (WA Channel) CCI All Updates (Telegram Channel) GST Income Tax CA Final CA Inter CA Foundation CCI Jobs CS CCI Webinars CCI Pro Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register Follow