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SECTION 301
IF THERE ARE NO TRANSACTIONS AS PER SECTION 301 DURING THE QUARTER THEN THE NIL STATEMENT HAS TO BE PLACED/RECORDED AT THE BOARD MEETING OR NOT.PLEASE ADVISE ITS URGENT
Replies (3)
Dear Priyanka,
I m not sure but unless u present a "Nil Statement" how u will bring this thing on records that there was no transactions........
Priyanka,
Section 301 (3) says that you need to enter the transactions within 7 days of the board meeting in which it is approved and if not then enter in the register within 7 day of entering into the contract and place the register or statement in the next board meeting.
However, there is nothing in this section tells about what if there is no transactions. It means if there is no transaction in any month, you need to put any statement or even NIL Statement in the Board.
Regards,
Cs. Ashish Shah
| Originally posted by : Cs. Ashish Shah | ||
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Priyanka, Section 301 (3) says that you need to enter the transactions within 7 days of the board meeting in which it is approved and if not then enter in the register within 7 day of entering into the contract and place the register or statement in the next board meeting. However, there is nothing in this section tells about what if there is no transactions. It means if there is no transaction in any month, you need to put any statement or even NIL Statement in the Board. Regards, Cs. Ashish Shah |
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Agreed wid Ashish..
That Statements are refered/verified by the Statutory Auditor for reporting under CARO...
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