Board's report requirements: directors must disclose company affairs, prescribed disclosures, responsibility statement, and face penalties for wilful non compliance. Section 217 mandates that the Board's report attached to each balance sheet must disclose the state of the company's affairs, transfers to reserves, dividend recommendations, material post year end financial changes, prescribed disclosures on energy and foreign exchange, and specified changes in the company's and its subsidiaries' businesses. It requires employee remuneration statements meeting prescribed thresholds, a Directors' Responsibility Statement on accounting standards and records, full explanations of auditor qualifications, authenticated signatures, and prescribes penal consequences for wilful non compliance with limited defences.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Board's report requirements: directors must disclose company affairs, prescribed disclosures, responsibility statement, and face penalties for wilful non compliance.
Section 217 mandates that the Board's report attached to each balance sheet must disclose the state of the company's affairs, transfers to reserves, dividend recommendations, material post year end financial changes, prescribed disclosures on energy and foreign exchange, and specified changes in the company's and its subsidiaries' businesses. It requires employee remuneration statements meeting prescribed thresholds, a Directors' Responsibility Statement on accounting standards and records, full explanations of auditor qualifications, authenticated signatures, and prescribes penal consequences for wilful non compliance with limited defences.
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