Company Secretary and Compliance Officer
114788 Points
Joined January 2009
Yes it is mandatory to send annual report to shareholders of the company subject to the provisions of Companies Act, 1956.
As per section 219 of the companies act, 1956, A copy of every balance sheet (including the profit and loss account, the auditors' report and every other document required by law (AGM Notice) to be annexed or attached, as the case may be, to the balance sheet) which is to be laid before a company in general meeting shall, not less than 21 days, before the date of the meeting, be sent to every member of the company.
However, provisions of Service of documents on members by company are governed by section 53 of the companies act, 1956. So as per section 53(1), A document may be served by a company on any member thereof either:
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personally, or
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by sending it by post to him to his registered address, or
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if he has no registered address in India, to the address, if any, within India supplied by him to the company for the giving of notices to him.