Profit and loss a/c of private limited company.

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Dear Friends,

According to the erstwhile Companies Act, 1956, P/L A/c of Private Limited company wasn't a public document and no person other than members of the Pvt. Ltd. company were authorised to inspect its P/L A/c. Is this privilege still available to the Pvt. Ltd. company under the Companies Act, 2013 ?

P.S. Section reference would be helpful. Thanks.

Replies (2)

No, this privilege is not available now.  Proviso  to  Sec.220(1)(a) of 1956 Act provided P&L A/c to be filed separately, which was inserted by Act 65 of 1960 when physical filing was applicable with an object that P&L A/c will not be kept open for public inspection.  E-filing prescribed separate forms for Balance Sheet and P&L A/c for all companies.  But still P&L A/c was not open for public inspection.  However,  there is no such provision in corresponding section 137 of the  new Act. 

 

Thanks for the clarification sir.

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