Date of limited review report

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Moonmoon Chakraborty (Querist)
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21 February 2012 Dear All,
My query is:
A meeting is to be held on 14.02.2012 to adopt unaudited quarterly results of Dec. 2011. But the meeting got cancelled. The new date of meeting is 27.02.2012. What will be the date in the limited review report? Will it be before 14.02.2012 (before 45 days from the end of the quarter) or after 14.02.2012?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 February 2012 Date on Limited Review Report - 27.02.2012

Moonmoon Chakraborty

Moonmoon Chakraborty (Querist)
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22 February 2012 Thank you Mr. Mitesh. Can you suggest me the clause where i can get a reference of it. I have referred Clause 41 which says that Limited review report should be sent within 45 days from the end of the quarter. It also says that it goes along with financial results.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 February 2012 As per Clause 41 (II)(d), The limited review report is required to be placed before the Board Meeting before submitting the same to the Stock Exchanges. As date of meeting is 27/02/2012, limited review report will be placed on 27/02/2012.

Moonmoon Chakraborty

Moonmoon Chakraborty (Querist)
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22 February 2012 Thank you Mr. Mitesh for the detailed explanation. It is valuable for me.

Charu Srivastava

Charu Srivastava (Expert)
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22 February 2012 To Mitesh,

Just for knowledge sake i want to ask isn't it a violation of Clause 47(d) which requires submission of Quarterly report and limited review within 45 days of end of the quarter.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 February 2012 Dear Charu,

Yes as per clause 41 (I)(c)its a violation. Board meeting need to be held within 45 days of end of each quarter to approve the quarterly results.

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