Company financial statements may be revised through an application requiring board disclosure, auditor hearing, and Registrar filing. Applications to revise financial statements under section 131 must be filed in Form No. NCLT-1 within fourteen days of the Board decision, disclose any immediate prior change in majority directors or auditor, and include the financial period, responsible officers and auditors, the Board resolution, and grounds for revision. The company must advertise the application fourteen days before hearing; the Tribunal will hear the auditor and others before issuing an order which must be filed with the Registrar of Companies within thirty days. Post approval, a general meeting may adopt and then file revised statements within thirty days.
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.
Company financial statements may be revised through an application requiring board disclosure, auditor hearing, and Registrar filing.
Applications to revise financial statements under section 131 must be filed in Form No. NCLT-1 within fourteen days of the Board decision, disclose any immediate prior change in majority directors or auditor, and include the financial period, responsible officers and auditors, the Board resolution, and grounds for revision. The company must advertise the application fourteen days before hearing; the Tribunal will hear the auditor and others before issuing an order which must be filed with the Registrar of Companies within thirty days. Post approval, a general meeting may adopt and then file revised statements within thirty days.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
