Company law query sec 139(2) read with rule 5

28 March 2018

whether criteria to be checked
- as on date of AGM (for example 15th July), or
-31st March,or
-any time during the year ended 31st March?

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4 Replies

Pankaj Agarwal (Article and Audit Assistant) (301 Points)
Replied 28 March 2018

on the date of appointment

Parminder Singh (744 Points)
Replied 28 March 2018

date of appointmwnt = date of AGM. Even o/s borrowings feom PFI and o/s deposits to be checked as on date?

Pankaj Agarwal (Article and Audit Assistant) (301 Points)
Replied 28 March 2018

I think it is on balance sheet date

Parminder Singh (744 Points)
Replied 28 March 2018

in my opinion paid up capital to be checked on balance sheet date but public borrowings at any point of time during the year

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