Restatement of Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
We have recently (31.03.2010 period) got our statutory accoutns for a company signed for the first year. The first year was for 18 months as per the companies act provision. On signing by auditors we have adopted the accounts in AGM as well as filed with ROC(We filed with ROC on the last of permission and even accoutns were adopted in AGM on the last date of statutory period allowed).
Now we want to restate the accoutns for the period ended 31.03.2010 by incorporating certain left out expenses.
-Can we do now and if yes which section of the concerned acts allow this.-Please elobarate.
Now we want to restate the accoutns for the period ended 31.03.2010 by incorporating certain left out expenses.
-Can we do now and if yes which section of the concerned acts allow this.-Please elobarate.
07 September 2010
It cannot be restated since accounts are adopted by shareholders in AGM and ROC returns had been filed.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
Please refer to section 210. It seems possible.
07 September 2010
My observation is as per opinion of ICAI in Compendium of Opinions Volume-XV1 ,Page 113.
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