Corporate updater- August, 2019

Updated: Sep 1, 2019

August is always august month for corporate compliance as some demanding matters are there to do this time in a time bounded manner. Following are the major compliance under Companies Act, 2013 which is to be carried out on or before 30th September, 2019.

Conducting the board meeting for the approval of annual accounts.

The financial statements of the company to be drafted and the same to be placed before a duly convened board meeting for obtaining the approval of the directors. The meeting should be ideally conducted before last week of August, 2019, as the same have to be audited by the Statutory Auditors before sending it to the shareholders. The approved financial statements to be authenticated by the Managing Director and Director of the company without fail. If there is no Managing Director then the same to be authenticated by two directors of the company.

Approval of draft Director’s report.

The board meeting, for the approval of the financial statements, should also consider the draft of the director’s report and authorize the Managing Director and a Director of the company to sign the same. All the material facts and figures as envisaged under section 134 of the Act to be strictly adhered to.

Fixing the date of annual general meeting.

The board meeting of august should decide, ideally, the date of the next annual general meeting and authorize the Chairman or any other director or KMP to issue the notice of annual general meeting along with relevant annexures. The last date for conducting the annual general meeting , in normal course, is 30th September, 2019. While fixing the date of annual general meeting care should be taken to ensure that the gap between the last annual general meeting and the ensuing annual general meeting is not exceeding 15 months