Inadequate annual report

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CHANDAN J (Querist)
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22 August 2009 A BSE listed company,ended operations of its subsidiary company during 2008-09.

Though there's turnover of 500 crores in that subsidiary during 2008-09,this listed company is not prepared to disclose subsidiary's balance sheet, P&L and all subsequent details.

As a shareholder I feel unjustified. Do I've any legal or institutional support to ask to the management?

Ankur Garg

Ankur Garg (Expert)
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22 August 2009 Refer Section 219(1) of the Companies Act, 1956.

Regards

CHANDAN J

CHANDAN J (Querist)
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22 August 2009 Dear Mr Ankur,

Refered sec 219(1),it nowhere mentioned about "subsisdiary company". Cud you pls forward specific details.

vijay singhal

vijay singhal (Expert)
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22 August 2009 yes...for more detail refer sec 219(1)

Ankur Garg

Ankur Garg (Expert)
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22 August 2009 As per section 219 co. is reqd to provide its shareholder annual accounts

and under section 212 co. is required to attach the accounts of its subsi. companies unless exempted by CG.

Under section 219 u can ask the annual accounts.