Laying accounts at annual general meeting within statutory period laid down in sub‑section (3) of the section ‑ Whether mandatory on the part of board of directors
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Duty to lay accounts at annual meeting remains mandatory; adjournments cannot bypass statutory timing and expose directors to prosecution. Mandatory duty on the board of directors to lay the company accounts at every annual general meeting within the statutory period is reaffirmed. Although ... Summary
Duty to lay accounts at annual meeting remains mandatory; adjournments cannot bypass statutory timing and expose directors to prosecution.
Mandatory duty on the board of directors to lay the company accounts at every annual general meeting within the statutory period is reaffirmed. Although adjournment is permissible if accounts are not ready, the adjourned meeting must occur within the prescribed statutory period, including any authorized extension, and adjournments cannot be used to bypass timing requirements, failing which directors are liable to prosecution.
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