Posts

Showing posts from August, 2016

DIRECTOR REPORT

DIRECTOR REPORT BACKGROUND: It is mandatory for every company, to forward to its members, along with its annual Financial Statement the Board of Director’s report. Report of Board of Directors should be ‘ATTACHED’ to the Balance Sheet laid before the AGM. A director’s report is intended to explain to shareholders, the overall financial position of the Company and its operation & Business Scope. In Companies Act,2013 , lot of sections makes it mandatory to make disclosure in Boards report contrary to previous Act, where only section 217, talks about the Boards Report Provisions Relating to Director’s Report:- v Applicability of Provision of Section-134 of Director Report: The provision of Director Report (u/s 134) is applicable only to financial year commencing on or after 1 st April, 2014. v Signing of Director’s Report along with Annexure: As per Section 134(6) Board Report and annexure thereto shall be signed by ·         its ‘ CHAIRPERSON