Financial statement approval: Board must approve and specified officers must sign before submission; abridged Board's report allowed. Section 134 now requires Board approval of the financial statement, including consolidated statements, before signing and submission to the auditor, with specified authorised signatories (chairperson where authorised, or two directors including one managing director, plus CEO, CFO and company secretary where appointed; one director for One Person Company). It mandates inclusion of the web address for the annual return, revises board evaluation disclosure wording, allows reference to disclosures in the financial statements and web-hosted policies by indicating salient features and web-address, and enables the Central Government to prescribe an abridged Board's report for One Person and small companies.
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.
Financial statement approval: Board must approve and specified officers must sign before submission; abridged Board's report allowed.
Section 134 now requires Board approval of the financial statement, including consolidated statements, before signing and submission to the auditor, with specified authorised signatories (chairperson where authorised, or two directors including one managing director, plus CEO, CFO and company secretary where appointed; one director for One Person Company). It mandates inclusion of the web address for the annual return, revises board evaluation disclosure wording, allows reference to disclosures in the financial statements and web-hosted policies by indicating salient features and web-address, and enables the Central Government to prescribe an abridged Board's report for One Person and small companies.
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