Adoption of Annual Accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2010 Plz advice me on the following,

Is there any provision in the Act that we adopt unaudited annual accounts in the AGM and after that adopt audited annual accounts in an EGM...??

Because on the due date of AGM annual accounts of the company was not prepared.

Ankur Garg

Ankur Garg (Expert)
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30 June 2010 No there is no such provision in law.

However as per a decided case you may hold your AGM within statutory time limit and perform other agenda items except adoption of accounts and adjourned the AGM without adopting the accounts. At a later date when accounts are prepared and audited you may hold your adjourned AGM and approve the annual accounts.

Remember this adjourned AGM should also be convened within statutory time limit.

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