Section 628
This query is : Resolved
10 March 2010
Does it attract s.628 if EPS is omitted from the Annual Report of a Listed Company? willful or not, s.628 is not compoundable under 621A. However is there any remedy to it?
10 March 2010
In my view Sec 628 is not attracted only for the reason that EPS has not been shown in the annual report. EPS is a number that can be derived on the basis of the Balance Sheet and P & L Statement read with the other notes to accounts. If any material numbers are omitted which have a bearing on the numbers per se, then only Sec 628 would be applicable.
11 March 2010
But it is a non compliance of section 211 (3A). Consequently, penal provisions as in 211(7) will attract.
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