hi all,
just wanted to get the solution, a private limited company has received the signing date of balance sheet of jan12 for the financials for year ending 2011 and had not applied for extension
should the company held a back date AGM without approving the accounts.
and if at all the company has got the balance sheet signed as of date then should it go in for compoding of the same after filling the balance sheet as of date with roc
please advice
please clear your query as it is not clear when is the due date of agm and what is financial year?
Section 220(2) of Companies Act,1956
If the annual general meeting of a company before which a balance-sheet is laid as aforesaid does not adopt the balance-sheet or is adjourned without adopting the balance-sheet or, if the annual general meeting of a company for any year has not been held] a statement of that fact and of the reasons therefor shall be annexed to the balance-sheet and to the copies thereof required to be filed with the Registrar.
Keeping in mind the above provision you can show the meeting and adjourn the same stating the reason of non adoption of accounts.
CAclubindia
