Right to balance sheet copies: members entitled to receive financial statements before meetings, with penalties for non-compliance. Members and certain holders are entitled to receive the balance sheet, profit and loss account, auditors' report and other required annexures not less ... Summary
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Right to balance sheet copies: members entitled to receive financial statements before meetings, with penalties for non-compliance.
Members and certain holders are entitled to receive the balance sheet, profit and loss account, auditors' report and other required annexures not less than twenty-one days before the general meeting; listed companies may instead make documents available for inspection and circulate a statement of salient features. Exceptions cover persons not entitled to notices, unknown addresses and joint holders; earlier dispatch may be validated by unanimous agreement. Any member, debenture holder or depositor may on demand be furnished free copies, and non-compliance attracts fines and may be remedied by Central Government direction. Transitional savings apply to private companies.
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