Annual accounts not approved- urgent

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Amritha (Querist)
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27 September 2011 Respected Sir,
I want to know what will happen when the accounts are not approved by the Shareholders at the AGM. What the Company will do under such circumstances?

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)
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27 September 2011 · if the Balance Sheet and the Profit and Loss Account have been laid before the Annual General Meeting, the same has to be filed with the concerned ROC in [E-Form No. 23 AC] and [E-Form No. 23ACA] respectively whether it is adopted by the meeting or not. [Section 220(2)(1)] Even if the meeting is adjourned without adopting the Balance Sheet and the Profit and Loss Account, the same has to be filed with the concerned ROC.

· The Balance Sheet and the Profit and Loss Account are also required to be filed if the Annual General Meeting of a company for any year has not been held within thirty days of the latest day on or before which the meeting should have been held.

Amritha

Amritha (Querist)
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27 September 2011 Thank you Sir.

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