Section 129 of 2013Financial Statement

Includes:

a) Balance Sheet

b) Profit and Loss Account/Income and Expenditure Account

c) Cash Flow Statement – NA to OPC/Small Company/Dormant Company

Financial Statement (FS)

d) Statement of changes in equity, if applicable; and

e) Explanatory note annexed to/forming part of, any of above

Financial Statement (FS)……….

Signed by – Chairperson if authorized or

Two directors, one MD if any and

CEO, if he is director

CFO & CS, wherever appointed or

In case of OPC - only by one director

Financial Statement (FS)……….

FS shall give a true and fair view of state of affairs

comply with Accounting Standards notified under section 133 and shall be as per Schedule III:

Provided: AS specified under Companies Act, 1956 shall be deemed to be AS until AS specified by CG

Above N.A. to Insurance/banking company/company engaged in generation/supply of electricity/any other class of company

 

Financial Statement (FS)……….

At every AGM, Board of Directors shall lay before such meeting FS for the FY

If company has one/ more subsidiaries, in addition to its FS, consolidated financial statement and also be laid before AGM along with laying of its FS

Attach along with its FS, a separate statement containing salient features of FS of its subsidiary/subsidiaries in Form AOC-1.

Financial Statement (FS)……….

“Subsidiary” shall include associate company and joint venture

21 days before AGM - FS and any notes forming part of such FS, auditor’s report and Board’s report – shall sent to every member & other persons so entitled

Financial Statement (FS)……….

All listed companies and

Public companies - net worth of more than Rs. 1Cr and turnover of more than Rs. 10 Cr, the financial statements may be sent-

Manner of circulation of FS

  By electronic mode if shares are in dematerialized

format and email Ids registered with Depository

Share otherwise than dematerialized format, to such members who have positively consented in writing for receiving by electronic mode; and

By dispatch of physical copies through mode of delivery as specified under section 20 of the Act, in all other cases.

Manner of circulation of FS …….

FS with Form AOC-4 within 30 days of date of AGM

If OPC within 180 days - i.e. 26th Sept

Filing of FS with Registrar

Class of companies as may be notified by Central Government from time to time, shall mandatorily file their financial statement in Extensible Business Reporting Language (XBRL) format and the Central Government may specify the manner of such filing under such notification for such class of companies.

XBRL

Period ending on 31st March every year

If incorporated on/after 1st January of a year, period ending on 31st March following year

If application by company which is holding/subsidiary of foreign company and required to follow a different FY for consolidation of its accounts outside India, Tribunal may, allow any period as its FY, whether or not that period is a year:

Existing Co’s - within 2 years from commencement, align its FY

Financial Year (FY)