BM date for accounts approval and dir and auditors report

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Suvarna Pathare (Querist)
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16 April 2010 If the first AGM of a pvt ltd co. is to be held on 23.4.2010, when should the Board Meeting for approval of accounts, authorising directors for signing of accounts, adoption of directors report and adoption of auditors report be held? Do we need separate BMs for approval of accounts and for signing of Directors report and for signing of auditors report?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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16 April 2010 One Board meeting is enough. First directors will approve then auditors will sign the balance sheets. since 21days clear notice is required. Your approval should be on 1.04.2010.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 April 2010 The company has to convene a board meeting to approve the accounts and to pass on the accounts to the auditor's for auditing. The auditors will audit the accounts(it may take days depending on the volume of business of the company)and sign the statements on a date subsequent to the board meeting. The company may convene another board meeting to approve/sign the Director's report and to fix the date of AGM. So two board meetings are required for the issue raised.

Ankur Garg

Ankur Garg (Expert)
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17 April 2010 If you follow the date of 01.04.2010 than there would a violation of section 53.

Check my reply in the corporate law forum.

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