Filling of resolution for f.y.2013-14

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VARSHA AGRAWAL (Querist)

23 August 2014 Dear Members, I have a querry related to filling of board resolution of approving of finnancial statement at Board Meeting.
Whether we have to file resolution of approving finnancial statement of f.y,2013-14 or not? Please resolve my querry.

Ankur Garg

Ankur Garg (Expert)

23 August 2014 Dear Varsha,

Financial statements is required to be approved by board by passing a board resolution and it is an old practice.

In companies Act 2013, board resolution for adoption of annual accounts is required to be submit with ROC. To file this board resolution with ROC you have to file form MGT.14 within 30 days of passing board resolution.

Please revert in case of any doubt.

Thanks

Ankur Garg

Ankur Garg (Expert)

23 August 2014 Law related to filing of form MGT.14 under Companies Act, 2013 (22 July)

Filing of form MGT.14 is mandated by section 117 of the Companies Act, 2013. Section 117(2), prescribe the penalty for non-filing of form MGT.14.

As per Section 117(2), if a company fails to file the resolution or the agreement under sub-section (1) before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than five lakh rupees but which may extend to twenty-five lakh rupees and every officer of the company who is in default, including liquidator of the company, if any, shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees.

For more clarity about form MGT.14 read my article available at the link mentioned below:

https://www.caclubindia.com/articles/list-of-resolutions-to-be-filed-with-roc-in-form-mgt-14-20664.asp#.U8O57KM27cs

Thanks

VARSHA AGRAWAL

VARSHA AGRAWAL (Querist)

24 August 2014 Thanx for your valuable comment.
Sir, do you have format of board resolution for the approval of finnancial statement and Board's Report.

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